Is $40K Bitcoin the new $10K 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.”
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 93.2% | 9 | $27 087.02 | -0.27% | -0.06% | $525 275 860 361 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 90.4% | 5 | $1 894.54 | -0.31% | 2.56% | $227 788 525 796 |  |
|
| 3 |  USDT |
Tether predictions | 95.6% | 1 | $1.000266 | 0% | -0.02% | $83 174 583 635 |  |
|
| 4 |  BNB |
Binance Coin predictions | 92.8% | 3 | $306.22 | -0.05% | -0.74% | $47 726 034 527 |  |
|
| 5 |  USDC |
USD Coin predictions | 95.6% | 1 | $0.999950 | -0.01% | -0.02% | $28 902 979 509 |  |
|
| 6 |  XRP |
XRP predictions | 77.6% | 45 | $0.523003 | 0.07% | 10.63% | $27 189 376 584 |  |
|
| 7 |  ADA |
Cardano predictions | 94.8% | 5 | $0.379137 | 0.78% | 2.17% | $13 229 654 737 |  |
|
| 8 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 91.6% | 10 | $0.072900 | 0.75% | 0.19% | $10 178 444 950 |  |
|
| 10 |  SOL |
Solana predictions | 82% | 26 | $21.28 | 0.54% | 4.16% | $8 445 521 119 |  |
|
| 11 |  MATIC |
Polygon predictions | 84.4% | 24 | $0.902754 | 0.60% | -2.77% | $8 377 081 385 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 79.6% | 41 | $0.081565 | -3.18% | 5.43% | $8 293 183 944 |  |
|
| 13 |  TRX |
TRON predictions | 75.6% | 46 | $0.081676 | -3.05% | 5.19% | $7 366 637 548 |  |
|
| 14 |  LTC |
Litecoin predictions | 79.6% | 43 | $95.13 | 0.59% | 6.20% | $6 951 023 390 |  |
|
| 15 |  DOT |
Polkadot predictions | 90.4% | 7 | $5.33 | 1.27% | -0.64% | $6 346 171 816 |  |
