Bitcoin
BTC$38 967.91

-7.44%

Ethereum
ETH$2 871.05

-8.60%

Tether
USDT$1.000160

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BTC price returns to $50K as Bitcoin bears lose $450M in daily liquidations


02 Sep 2021

#Bitcoin

September turns out to be anything but boring for Bitcoin as shorts lose big on a fresh move above the $50,000 mark. Bitcoin (BTC) swiftly reclaimed $50,000 on Sep. 2 as bears felt maximum pain and lost hundreds of millions of dollars. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD suddenly breaking through the $50,000 mark to hit its highest since Aug. 23.

After a night of bullish action, the pair left its lower trading range of recent weeks behind, with volatility still significant at the time of writing. Local highs topped $50,300 on Bitstamp. As Cointelegraph reported, $51,000 remains the level to beat in order to cement a continuation of the 2021 Bitcoin bull run. Heavy resistance remained at that level Thursday, with analysts waiting to see if the latest uptick had the momentum required to change the longer-term paradigm. 

“Bitcoin facing final hurdle before $57K,” Cointelegraph contributing analyst Michaël van de Poppe tweeted in his latest update. “Welcome back to $50,000 BTC,” fellow analyst Rekt Capital added.

Short traders lost out heavily from the upside, liquidations hitting almost half a billion dollars in the past 24 hours.

Not so boring after all

As Cointelegraph noted, September tends to be a "boring" month when it comes to Bitcoin returns, with 6% currently the best performance on record. Price forecasts take account of the anomaly, with the popular "worst-case scenario" series from stock-to-flow model creator PlanB calling for a $43,000 minimum monthly close.

The statistician's August monthly close prediction, $47,000, was exactly on point. October, he calculates, should close at a minimum of $68,000 — a new all-time high.


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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 70.4% 62 $38 967.91 -7.44% -7.59% $737 892 869 372 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 78 $2 871.05 -8.60% -11.22% $342 372 023 455 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000160 -0.01% -0.02% $78 287 072 748 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 71.2% 56 $428.81 -7.90% -9.28% $70 802 974 684 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000296 -0.04% 0.05% $42 399 121 779 USDC 7 days price change
6 Cardano (ADA) ADA Cardano predictions 74.4% 49 $1.23 -8.69% -1.46% $41 378 123 412 ADA 7 days price change
7 Solana (SOL) SOL Solana predictions 61.6% 87 $123.51 -9.84% -13.96% $38 846 684 963 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 68.8% 59 $0.691874 -6.72% -9.81% $32 976 873 993 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 69.6% 58 $77.73 -5.70% -0.40% $27 703 412 550 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 72.8% 48 $22.45 -8.55% -14.69% $22 171 004 822 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 71.6% 50 $0.153961 -6.54% -20.35% $20 426 155 179 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 66% 77 $76.46 -9.87% -13.92% $18 683 659 839 AVAX 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $0.999181 -0.15% -0.05% $14 221 363 997 BUSD 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66% 68 $0.000026 -7.57% -15.60% $14 165 186 561 SHIB 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 66% 64 $1.90 -8.89% -14.69% $14 121 576 857 MATIC 7 days price change

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