Bitcoin (BTC) viel beneden $42,000 op sept. 28 as the largest cryptocurrency worsened overnight losses.

BTC / USD 1-uur kaarsgrafiek (Bitstamp). Bron: TradingView

BTC bulls run out of steam at $44,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,670 op Bitstamp.

The fall followed a $1,000 hourly loss late Monday, which firmly halted any bullish hopes from the weekend’s high of $44,400.

The turnaround was broadly expected. Zoals CoinTelegraph meldde, analysts were already eyeing levels even below $40,000 as potential floors.

Op maandag, one trader likewise refused to believe Bitcoin’s strength going into the new week, arguing that levels above $44,000 were simply a liquidity grab before heading lower again.

With two days left until the monthly close, ondertussen, attention was on $43,000 as the “worst case scenario” for BTC/USD to finish September.

Plan B, the analyst who correctly predicted the $47,000 “worst case” for August, likewise envisages October closing on at least $63,000.

Trader —Wise to beton Q4 rebound

He is not alone, with an increasing number of market participants firmly convinced that Q4 will form a turnaround point in the Bitcoin bull run.

Verwant: Angst voor China is nu angst voor infrastructuurrekeningen 5 dingen om deze week in Bitcoin te bekijken

Among them was popular trader TechDev, who argues that historical precedent alone demands credence be given to a fresh BTC price surge.

“Investing is a game of probability,” he summarized against a chart showing Bitcoin in 2013 en 2021.

“When history has proven prophetic for the first 3 quarters, I think it’s wise to bet on it for the 4th.”

BTC/USD comparison. Bron: TechDev/ Twitter