Bitcoin
BTC$69 135.35

0.39%

Ethereum
ETH$3 749.24

0.60%

Tether
USDT$0.999886

0.01%

Binance Coin
BNB$602.25

0.35%

Solana
SOL$168.45

0.39%

USD Coin
USDC$0.999984

-0.01%

Analyst nails Bitcoin monthly close 2 months running


01 Oct 2021

#Bitcoin

Bitcoin price action exactly conforms to PlanB’s predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month. Bitcoin (BTC) was keen to retain $44,000 on Oct. 1 as the monthly close sparked a late show of strength. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it first returned to the $44,000 mark Thursday, then test lower levels before heading even higher.

While still not tackling resistance at $45,000 and higher, Bitcoin did not disappoint with its end-of-month performance, this almost exactly matching predictions from stock-to-flow model creator PlanB for a second month running. With $63,000 now planned for October, expectations were high for Bitcoin to make up for lost ground going into Q4.

“September was bad. October is great. November is great. December is great,” Cointelegraph contributor Michaël van de Poppe summarized, telling Twitter followers to “buy the f*cking dip.” 

Van de Poppe highlighted historical performance across various months each year, something which Cointelegraph previously noted all but consigned September to be a “boring” 30 days. Others, however, were more cautious. In its latest market update, crypto trading firm QCP Capital said that it would remain cautious in its approach to the market as a whole.

“Overall, we struggle to find any directional conviction amidst the macro and market crosswinds. Our strategy going into Q4 is to remain fairly neutral and nimble,” executives summarized.

Macro factors at play were China’s reiteration of its crypto crackdown and two United States issues: legislation and the potential approval of a Bitcoin exchange-traded fund (ETF). On Friday, a vote on the government’s infrastructure bill, originally slated to happen Monday, was again delayed after a shutdown later this month was averted in a separate vote.

Ether returns to $3,000

Altcoins, meanwhile, saw another 24 hours of modest-to-flat moves, again headed by Binance Coin (BNB) on 6% daily gains. All of the top 10 cryptocurrencies by market capitalization were in the green at the time of writing, however, marking a refreshing contrast to recent action. Ether (ETH), the largest altcoin, traded above $3,000 on the back of 3% returns.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80.8% 34 $69 135.35 0.39% 3.32% $1 362 207 405 241 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 74.4% 49 $3 749.24 0.60% 20.06% $450 406 009 355 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999886 0.01% -0.03% $111 924 580 011 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 6 $602.25 0.35% 3.75% $88 883 758 375 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 70% 64 $168.45 0.39% -2.37% $75 703 178 826 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $0.999984 -0.01% -0.01% $32 725 200 351 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 94.8% 5 $0.541808 1.13% 3.92% $30 032 688 498 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 77.6% 35 $0.173961 6.20% 13.64% $25 127 052 131 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 69.2% 69 $6.38 -0.23% -0.30% $22 158 372 384 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 87.2% 20 $0.462085 0.56% -4.21% $16 491 451 331 ADA 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 75.2% 46 $38.29 0.79% 2.74% $15 044 254 301 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 82.4% 33 $0.000025 2.87% 1.23% $14 782 406 602 SHIB 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 80.4% 34 $69 101.03 0.28% 3.28% $10 743 591 141 WBTC 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 80.4% 29 $7.34 1.56% 2.47% $10 558 252 393 DOT 7 days price change
15 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

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