Bitcoin
BTC$27 087.02

-0.27%

Ethereum
ETH$1 894.54

-0.31%

Tether
USDT$1.000266

0%

Binance Coin
BNB$306.22

-0.05%

USD Coin
USDC$0.999950

-0.01%

XRP
XRP$0.523003

0.07%

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 93.2% 9 $27 087.02 -0.27% -0.06% $525 275 860 361 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 90.4% 5 $1 894.54 -0.31% 2.56% $227 788 525 796 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000266 0% -0.02% $83 174 583 635 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 92.8% 3 $306.22 -0.05% -0.74% $47 726 034 527 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $0.999950 -0.01% -0.02% $28 902 979 509 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 77.6% 45 $0.523003 0.07% 10.63% $27 189 376 584 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 94.8% 5 $0.379137 0.78% 2.17% $13 229 654 737 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 91.6% 10 $0.072900 0.75% 0.19% $10 178 444 950 DOGE 7 days price change
10 Solana (SOL) SOL Solana predictions 82% 26 $21.28 0.54% 4.16% $8 445 521 119 SOL 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 84.4% 24 $0.902754 0.60% -2.77% $8 377 081 385 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 79.6% 41 $0.081565 -3.18% 5.43% $8 293 183 944 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 75.6% 46 $0.081676 -3.05% 5.19% $7 366 637 548 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 79.6% 43 $95.13 0.59% 6.20% $6 951 023 390 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90.4% 7 $5.33 1.27% -0.64% $6 346 171 816 DOT 7 days price change

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