At $10600, Bitcoin price is on track for its second-best quarter ever
Data shows Bitcoin should seal both its best Q3 on record and its second-highest lifetime quarterly close on Sep. 30. Bitcoin (BTC) is on track for its best third quarter ever, data shows as Q3 2020 has just one day left to go.
According to price records from on-chain analytics resource Skew, this year should produce Bitcoin’s strongest Q3 in its history.
BTC price challenges Q2 2019 close
BTC/USD traded at around $10,680 at press time on Sep. 30. That number comfortably beats any other Q3 close on record, the next highest being last year’s $8,310.
What’s more, Bitcoin may seal the second-best quarterly close of its lifetime — but that depends on whether it can stay above Q2 2019’s $10,590.
“One more day to go and still looking like second-best quarterly close for bitcoin but it's a close call with Q2 2020,” Skew commented.
Bitcoin has stabilized in a $1,000 trading corridor since losing momentum after hitting $12,500 in August. The opinion is mixed for the short term, and concerns remain that BTC/USD may still drop to fill the last remaining CME futures “gap” at $9,600.
“There’s a rangebound structure with the upper resistance zone at $10,800,” Cointelegraph Markets analyst Michaël van de Poppe summarized in an update on Tuesday.
If BTC/USD fails to crack that resistance, he said, it was “very likely” that support levels lower down would be tested, notably $10,600, with potential for $10,400 and $10,200 to come into play.
Long term bulls in charge
Zooming out, however, the picture more conspicuously favors bulls. As Cointelegraph reported, long-term behavioral patterns remain true to form for Bitcoin, with this week proving no different.
Difficulty ribbon compression, a metric designed to quantify suitable BTC/USD entry points, has left its lower green “buy” zone for the first time since March.
Network fundamentals also speak to overall strength, with difficulty itself at all-time highs and set for another upwards readjustment of around 3% in three days’ time.
Hash rate, a measure of the estimated computing power being directed to mining, is also trending back towards its highest-ever levels. Among traders, however, discussion remains of potential near-term lows, including a dip below the CME gap toward $9,000.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 86.8% | 25 | $100 995.02 | 2.91% | -1.85% | $1 999 139 889 719 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 71.6% | 59 | $3 913.26 | 5.80% | 0.04% | $471 333 708 734 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $1.000251 | -0.01% | -0.08% | $139 777 511 417 |  |
|
| 4 |  XRP |
XRP predictions | 55.6% | 93 | $2.43 | 3.63% | -0.22% | $139 018 060 854 |  |
|
| 5 |  SOL |
Solana predictions | 81.2% | 37 | $232.19 | 4.56% | -1.58% | $111 192 264 405 |  |
|
| 6 |  BNB |
Binance Coin predictions | 73.2% | 53 | $719.41 | 4.66% | -1.84% | $103 601 476 112 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 75.2% | 52 | $0.416884 | 5.10% | -4.87% | $61 351 545 107 |  |
|
| 8 |  USDC |
USD Coin predictions | 90.8% | 1 | $0.999969 | 0% | -0.01% | $41 529 221 099 |  |
|
| 9 |  ADA |
Cardano predictions | 57.6% | 85 | $1.17 | 14.38% | -4.79% | $40 967 528 698 |  |
|
| 10 |  TRX |
TRON predictions | 55.6% | 94 | $0.295830 | 8.50% | -10.52% | $25 516 097 837 |  |
|
| 11 |  AVAX |
Avalanche predictions | 66% | 72 | $50.79 | 12.74% | -2.79% | $20 809 335 003 |  |
|
| 12 |  LINK |
Chainlink predictions | 66% | 77 | $28.66 | 25.98% | 19.27% | $17 963 420 662 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 64.8% | 69 | $0.000029 | 7.67% | -7.17% | $17 259 666 335 |  |
|
| 14 |  TON |
Toncoin predictions | 62.4% | 72 | $6.44 | 5.61% | -6.97% | $16 419 526 081 |  |
|
| 15 |  DOT |
Polkadot predictions | 60.4% | 87 | $9.36 | 9.57% | -12.57% | $14 305 286 039 |  |
