Bitcoin
BTC$60 252.30

-1.62%

Ethereum
ETH$4 018.12

-2.21%

Binance Coin
BNB$473.38

-1.64%

Cardano
ADA$2.12

-1.64%

Tether
USDT$1.000291

-0.03%

Solana
SOL$189.40

-3.30%

Is $40K Bitcoin the new $10K?


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.”


Related

Bitcoin futures ETF in danger of hitting upper limit for contracts
Bitcoin futures ETF in danger of hitting upper limit for contracts
Bitcoin gains $2K in hours after BTC price bounces near previous all-time high
Bitcoin gains $2K in hours after BTC price bounces near previous all-time high
Bitcoin futures ETF hits $1B AUM in a record-breaking two days
Bitcoin futures ETF hits $1B AUM in a record-breaking two days
Bitcoin sees its highest ever daily close as BTC/Euro pair hits all-time highs
Bitcoin sees its highest ever daily close as BTC/Euro pair hits all-time highs
Next Bitcoin price crash will be shallower than 80%, says Pantera Capital CEO
Next Bitcoin price crash will be shallower than 80%, says Pantera Capital CEO
The price of Bitcoin jumped towards its all-time high on Friday morning
The price of Bitcoin jumped towards its all-time high on Friday morning
Bitcoin to new all time highs?
Bitcoin to new all time highs?
Bitcoin approaches all-time high but hits resistance at $60,000
Bitcoin approaches all-time high but hits resistance at $60,000
New tickers and ARK filing shows Bitcoin futures ETF approval imminent
New tickers and ARK filing shows Bitcoin futures ETF approval imminent

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 66.8% 74 $60 252.30 -1.62% -1.26% $1 135 935 887 079 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 71.2% 59 $4 018.12 -2.21% 5.61% $474 376 781 470 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 68.8% 62 $473.38 -1.64% 1.64% $78 960 770 465 BNB 7 days price change
4 Cardano (ADA) ADA Cardano predictions 89.2% 13 $2.12 -1.64% -1.97% $69 627 800 399 ADA 7 days price change
5 Tether (USDT) USDT Tether predictions 92% 1 $1.000291 -0.03% 0.04% $69 594 352 711 USDT 7 days price change
6 Solana (SOL) SOL Solana predictions 70.8% 56 $189.40 -3.30% 18.36% $57 001 510 155 SOL 7 days price change
7 XRP (XRP) XRP XRP predictions 76.8% 49 $1.078786 -0.88% -3.63% $50 645 066 240 XRP 7 days price change
8 Polkadot (DOT) DOT Polkadot predictions 59.2% 82 $42.08 -3.54% 1.93% $41 561 903 600 DOT 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 69.6% 60 $0.256259 2.18% 8.35% $33 782 163 270 DOGE 7 days price change
10 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $1.000258 -0.06% 0.04% $32 574 092 120 USDC 7 days price change
11 Terra (LUNA) LUNA Terra predictions 67.6% 61 $40.61 -4.86% 10.46% $16 301 378 596 LUNA 7 days price change
12 UniSwap (UNI) UNI UniSwap predictions 77.6% 42 $25.72 -3.26% -2.22% $15 732 380 214 UNI 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 58.8% 92 $0.000038 13.53% 50.59% $15 098 126 510 SHIB 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 71.2% 61 $63.71 -2.12% 12.40% $14 033 729 136 AVAX 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 72.4% 50 $29.63 -3.22% 10.93% $13 659 959 203 LINK 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.