Is $40K Bitcoin the new $10K? BTC holds $43K support as exchange Bitfinex halts trading

2 weeks ago

Bitcoin (BTC) erased in a single day features on Sept. 30 as unexpected issues at main trade Bitfinex led to a mass outage.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

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Bitfinex investigates thriller shutdown

Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD shedding $43,000 following the scoop after hitting native highs above $43,800 on Bitstamp.

With the supply of the problem unknown on the time of writing, buyers have been left at nighttime as an already delicate crypto marketplace fell again in opposition to es

“We’re investigating problems with the platform and must briefly halt buying and selling,” Bitfinex wrote as a part of its latest service update.

WE’RE INVESTIGATING PROBLEMS WITH THE PLATFORM AND MUST BRIEFLY HALT BUYING AND SELLING. WE CAN STAY EVERYBODY UP TO DATE ON RIGHT HERE AND OUR STANDING WEB PAGE HTTPS://T.CO/U3PYCVVGQQAS WE ALL KNOW EXTRA. 
WE APOLOGISE FOR THE INCONVENIENCE.

— BITFINEX (@BITFINEX) SEPTEMBER 30, 2021

Tuesday had observed fellow trade Binance, the most important via quantity on this planet, droop buying and selling for 2 hours as a part of scheduled maintenance, this having no vital affect on BTC value motion.

With Thursday already set to be a charged day, alternatively, Bitcoin regarded set to near out September virtually precisely at its predicted “worst case situation” value of $43,000.

In so doing, the most important cryptocurrency would as soon as once more validate predictions made via stock-to-flow style writer PlanB, who additionally as it should be estimated the August shut of $47,000.

Fellow dealer and analyst Rekt Capital in the meantime reiterated the will for BTC/USD to reclaim its 21-week exponential transferring reasonable stage (EMA) via the tip of Sunday to maintain total bullish momentum.

Marketplace mimics $10,000 BTC from September 2020

In the meantime, the full personality of the Bitcoin marketplace used to be nonetheless a long way from bearish for many.

Similar: Bitcoin breaking new highs in This autumn will ‘briefly flip alts to mud’ — Analyst

In spite of lackluster value motion, the percentages stay for a dramatic go back to shape within the coming weeks and months, with comparisons to the similar length in 2020.

The most recent used to be from Cole Garner, who famous that the massive block of purchaser improve slightly below $40,000 used to be paying homage to the order ebook setups when BTC/USD used to be at $10,000 in September remaining 12 months.

CLOSING TIME WE NOTICED BIDS THIS THICK, #BITCOINUSED TO BE AT $10K. PIC.TWITTER.COM/NQQLEOUI36

— COLE GARNER (@COLEGARNERXBT) SEPTEMBER 29, 2021

This week additionally noticed long-time pundit Bobby Lee are expecting no longer best $100,000 within the mid time period, however up to $200,000 or extra for Bitcoin in a brand new “FOMO rally.”

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