Bitcoin
BTC$66 123.34

0.99%

Ethereum
ETH$3 555.02

4.45%

Tether
USDT$0.999468

0%

Binance Coin
BNB$606.32

1.74%

Solana
SOL$144.58

2.21%

USD Coin
USDC$1.000022

0%

Is $40K Bitcoin the new $10K Bitcoin?


30 Sep 2021

#Bitcoin

An unexpected problem causes Bitfinex to temporarily shut down, with Bitcoin price action undoing gains in the process. Bitcoin (BTC) erased overnight gains on Sept. 30 as sudden problems at major exchange Bitfinex caused a mass outage. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing the $43,000 level following the news after hitting local highs above $43,800 on Bitstamp. With the source of the issue unknown at the time of writing, traders were left in the dark as an already sensitive crypto market fell back toward established support.

“We are investigating issues with the platform and have to temporarily halt trading,” Bitfinex wrote as part of its latest service update.

Tuesday had seen fellow exchange Binance, the largest by volume in the world, suspend trading for two hours as part of scheduled maintenance, this having no significant impact on BTC price action. With Thursday already set to be a charged day, however, Bitcoin looked set to close out September almost exactly at its predicted “worst-case scenario” price of $43,000. In so doing, the largest cryptocurrency would once again validate predictions made by stock-to-flow model creator PlanB, who also correctly estimated the August close of $47,000.

Fellow trader and analyst Rekt Capital, meanwhile, reiterated the need for BTC/USD to reclaim its 21-week exponential moving average level (EMA) by the end of Sunday to preserve overall bullish momentum.

Market mimics $10,000 BTC from September 2020

Meanwhile, the overall character of the Bitcoin market was still far from bearish for most. Despite lackluster price action, the odds remain for a dramatic return to form in the coming weeks and months, with comparisons to the same period in 2020. The latest was from Cole Garner, who noted that the large block of buyer support just below $40,000 was reminiscent of the order book setups when BTC/USD was at $10,000 in September last year. 

This week also saw long-time pundit Bobby Lee predict not only $100,000 in the mid-term but as much as $200,000 or more for Bitcoin in a new “FOMO rally.”


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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 87.2% 16 $66 123.34 0.99% -4.79% $1 303 451 857 959 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 41 $3 555.02 4.45% -3.46% $427 135 531 951 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999468 0% -0.04% $112 500 110 914 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82% 33 $606.32 1.74% -11.61% $89 483 264 510 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 82.8% 28 $144.58 2.21% -9.57% $66 753 466 287 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 3 $1.000022 0% 0% $32 442 766 908 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 80.4% 27 $0.493733 5.33% 0.08% $27 436 964 277 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 73.2% 49 $0.136503 2.35% -6.62% $19 755 088 075 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 74.8% 51 $7.97 0.86% 13.14% $19 398 824 296 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 80.8% 29 $0.413290 2.36% -4.92% $14 764 940 323 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56.4% 94 $0.000021 3.96% -11.04% $12 205 332 764 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 75.2% 49 $30.08 2.56% -6.97% $11 831 150 649 AVAX 7 days price change
13 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 91.6% 1 $66 245.61 1.22% -4.60% $10 151 195 405 WBTC 7 days price change
15 TRON (TRX) TRX TRON predictions 85.6% 19 $0.115284 -0.54% 0.49% $10 062 292 912 TRX 7 days price change

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