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 | 81.6% | 27 | $63 731.32 | -1.41% | -5.15% | $1 254 718 965 668 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.4% | 45 | $3 048.04 | -2.05% | -6.28% | $365 984 339 181 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000527 | 0.01% | 0.04% | $109 527 253 340 |  |
|
| 4 |  BNB |
Binance Coin predictions | 88.4% | 18 | $558.98 | -0.11% | -6.15% | $83 585 746 502 |  |
|
| 5 |  SOL |
Solana predictions | 75.2% | 51 | $142.40 | -1.33% | -5.02% | $63 625 804 667 |  |
|
| 6 |  USDC |
USD Coin predictions | 94% | 2 | $1.000198 | 0.01% | 0.03% | $33 909 730 390 |  |
|
| 7 |  XRP |
XRP predictions | 69.6% | 58 | $0.515110 | 2.69% | -4.81% | $28 397 582 786 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 68.8% | 59 | $0.152823 | 0.19% | -10.17% | $22 000 479 669 |  |
|
| 9 |  TON |
Toncoin predictions | 65.6% | 64 | $6.30 | -10.61% | -5.87% | $21 855 614 662 |  |
|
| 10 |  ADA |
Cardano predictions | 67.2% | 60 | $0.490471 | 6.05% | -2.74% | $17 472 860 958 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.8% | 85 | $0.000023 | 0.64% | -5.01% | $13 501 804 322 |  |
|
| 12 |  AVAX |
Avalanche predictions | 67.2% | 60 | $35.69 | 0.71% | -5.73% | $13 488 699 302 |  |
|
| 13 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 82.8% | 31 | $63 865.14 | -1.06% | -5.00% | $9 923 604 206 |  |
|
| 15 |  DOT |
Polkadot predictions | 71.2% | 57 | $6.79 | -0.01% | -5.17% | $9 753 046 496 |  |
