Is the $40,000 Bitcoin the new $10,000?As the exchange Bitfinex ceases trading, BTC holds 43,000 USD support


Bitcoin (Bitcoin) On September 30, the overnight earnings were wiped out because of a sudden problem with the main exchange Bitfinex, which caused a large-scale power outage.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitfinex investigation mysteriously closed

Data from Cointelegraph Markets Pro with Transaction view After hitting a local high above US$43,800 on Bitstamp, BTC/USD fell to the level of US$43,000 after the news.

Since the source of the problem is not clear at the time of writing, traders know nothing because the already sensitive cryptocurrency market has fallen back to the established support.

“We are investigating issues with the platform and have to temporarily suspend trading,” Bitfinex wrote in its statement. Latest service update.

On Tuesday, Binance, the world’s most traded exchange, suspended trading for two hours Regular maintenance, This has no significant impact on the BTC price trend.

However, since Thursday is already a charging day, Bitcoin looks to close almost exactly at its predicted “worst-case” price of $43,000 in September.

In doing so, the largest cryptocurrency will once again verify the inventory-to-flow model creator PlanB’s prediction, who also Correct estimate The August closing price was US$47,000.

At the same time, trader and analyst Rekt Capital Reiterate Need BTC/USD Recycle End its 21-week exponential moving average (EMA) by Sunday to maintain the overall bullish momentum.

Starting from September 2020, the market has simulated BTC for USD 10,000

At the same time, the overall characteristics of the Bitcoin market are still far from bearish for most people.

related: Bitcoin hits a new high in the fourth quarter and will “temporarily turn alternatives to ashes”-Analyst

Although the price trend is lacklustre, compared to the same period in 2020, a significant return is still possible in the coming weeks and months.

The latest news comes from Cole Garner, who points out Chunk Buyer support for just under 40,000 USD is reminiscent of the order setting of BTC/USD at 10,000 USD Last September.

This week also saw long-term expert Bobby Lee not only predicting a mid-term of 100,000 US dollars, but also as much as 200,000 USD or more Bitcoin is in the new “FOMO rebound”.