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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 58% 88 $23 111.56 1.40% 2.46% $445 467 385 928 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.8% 85 $1 597.71 1.63% -3.12% $195 518 478 203 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000214 0% 0% $67 518 894 139 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.8% 72 $307.54 1.77% 1.44% $48 561 092 766 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92% 1 $0.999961 -0.01% 0.02% $43 079 802 564 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 67.2% 74 $0.411374 1.67% 0.42% $20 899 274 392 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $0.999970 -0.02% 0% $15 797 945 581 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 60.8% 79 $0.389742 4.62% 8.05% $13 479 166 661 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 75 $0.087530 3.33% 2.02% $11 612 632 457 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 62% 78 $1.15 6.65% 12.37% $10 012 288 547 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 56% 90 $24.46 2.79% -1.52% $9 087 126 673 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 57.2% 87 $6.59 3.51% 6.21% $7 583 086 372 DOT 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 54.4% 92 $20.95 17.58% 20.92% $6 593 829 036 AVAX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 59.6% 84 $0.000012 3.13% -2.02% $6 476 713 621 SHIB 7 days price change

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