Bitcoin
BTC$19 947.39

3.63%

Ethereum
ETH$1 351.01

3.89%

Tether
USDT$1.000139

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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 87.6% 20 $19 947.39 3.63% -1.75% $382 369 238 889 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 63.6% 82 $1 351.01 3.89% -3.12% $165 698 908 342 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000139 0.01% 0.01% $67 958 881 228 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 15 $292.38 2.14% 2.98% $47 172 398 458 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999939 -0.01% -0.01% $47 033 032 643 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 61.6% 86 $0.470361 5.01% -0.77% $23 471 346 889 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000315 0.10% -0.03% $21 048 857 281 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 74.8% 46 $0.431465 1.94% -5.77% $14 779 010 315 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 87.6% 22 $33.68 3.12% -3.95% $11 960 746 922 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 88.8% 14 $0.060661 0.82% -3.25% $8 047 931 990 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.2% 68 $6.47 2.65% -4.06% $7 260 332 773 DOT 7 days price change
13 Polygon (MATIC) MATIC Polygon predictions 67.2% 61 $0.828688 6.82% 5.76% $7 238 024 558 MATIC 7 days price change
14 Dai (DAI) DAI Dai predictions 91.6% 1 $0.999942 0.02% 0.01% $6 786 494 749 DAI 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 93.6% 5 $0.061398 0.40% 1.26% $6 242 711 894 WTRX 7 days price change

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