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Bitcoin could hit $37K, but trader says BTC price top will be number you can’t comprehend


30 Sep 2021

#Bitcoin

Major buyer interest below $40,000 may get filled before Bitcoin price action launches to new all-time highs and beyond. Bitcoin (BTC) sealed another $40,000 retest on Sunday, Sept. 26, as the battle for the weekly close raged on. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $40,800 overnight, following an earlier unsuccessful attempt by sellers to flip $40,000 back to resistance.

With stubborn conditions keeping BTC price action in a narrow range, attention on Sunday focused on where the longer-term bottom might be. Analysts also stayed conspicuously bullish on what might come afterward. In a series of tweets reflecting on the broader state of Bitcoin, popular trader Pentoshi eyed $37,000 as a potential floor.

“This looks healthy on the HTF’s and is likely forming a base over the previous HH on the way to ATH’s and potentially a HL here at the Summer PoB,” popular Twitter trader Pentoshi commented in a series of tweets reflecting on the broader state of Bitcoin. “While I believe $BTC can briefly trade as low as 37k it is unlikely to be there long.”

Pentoshi noted significant buyer bids in place in the area between $36,000 and $40,000. These, as Cointelegraph also reported, are rare in terms of size. 

“We can see bids have been stacked on exchanges at those levels with the intent to fill, but the sheer size of them is something I’ve never seen before across most exchanges,“ he wrote. “The bottom is closer than you think, and the top is likely a number you can’t comprehend at this time.”

Huobi to “retire” all Chinese users

Elsewhere, concerns over China proved equally difficult to shift from sentiment. Exchange Huobi saw 10,000 BTC inflows as it prepared to halt its Chinese operations, these nonetheless small in comparison to those witnessed even last month.

“To comply with local laws and regulations, Huobi Global has ceased account registration for new users in Mainland China, effective September 24, 2021 (UTC+8),” an announcement from the exchange released Sunday reads. “Huobi Global will gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on Dec 31, 2021, and ensure the safety of users’ assets.”

As Cointelegraph reported, despite the wide media coverage, nothing has changed in China’s cryptocurrency stance, with its crypto ban in place and essentially unchanged since September 2017.


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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 87.6% 20 $19 083.51 -1.06% 1.40% $365 781 815 743 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.8% 83 $1 281.89 -2.22% -1.23% $157 194 265 600 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000050 0% 0% $67 952 795 097 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000020 0.01% 0% $47 326 491 868 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 14 $285.57 1.14% 4.15% $46 073 556 698 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 61.2% 86 $0.453299 -4.55% -8.26% $22 619 945 926 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000118 0.11% 0.06% $21 044 705 794 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 78% 41 $0.422139 -2.00% -5.32% $14 459 594 259 ADA 7 days price change
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14 Polygon (MATIC) MATIC Polygon predictions 70.8% 64 $0.767118 -0.22% 4.02% $6 700 252 529 MATIC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92.4% 5 $0.060883 0.66% 2.30% $6 190 317 836 WTRX 7 days price change

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