Bitcoin (Bitcoin) Quickly recovered $50,000 on September 2 because the bear felt the most pain and lost hundreds of millions of dollars.
Bitcoin triggered a new baptism of bear blood
Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD suddenly broke through the 50,000 USD mark and hit the highest point since August 23.
After a night of bullish action, the currency pair has left the lower trading range of recent weeks and remains highly volatile at the time of writing. Bitstamp’s local high broke through $50,300.
As Cointelegraph ReportIn order to consolidate the continuation of the Bitcoin bull market in 2021, $51,000 is still a level that needs to be broken.
Heavy resistance stay At that level on Thursday, analysts are watching whether the recent rise has the momentum needed to change the long-term paradigm.
“Bitcoin faces the last hurdle before $57,000,” Cointelegraph special analyst Michaël van de Poppe Tweet In his latest update.
“Welcome back to the $50,000 BTC,” analyst Rekt Capital Add to.
Short traders suffered heavy losses from the upside, and liquidation took a hit Nearly five billion dollars In the past 24 hours.
Not so boring after all
As Cointelegraph famousIn terms of Bitcoin returns, September is often a “boring” month, and the current 6% is the best performance on record.
Price predictions take into account anomalies and the popular “worst case” series from PlanB, the creator of the inventory-to-flow model call The minimum monthly closing price is $43,000.
Will the closing price in August really exceed $47,000?
By the way, these are the worst-case scenarios/lowest estimates, so don’t worry about September> $43,000. My basic scenario forecast is based on S2F: $100,000. I use floor material as an option. pic.twitter.com/HGXa5MMqH0— PlanB (@100trillionUSD) August 31, 2021
The statistician’s August monthly closing forecast was $47,000, which was completely correct. He calculated that the closing price in October should be at least $68,000-a record high.
