BTC Price Loses $ 42,000 After Rejecting New Worst Case Focus

Bitcoin (BTC) fell below $ 42,000 on September 28 as the largest cryptocurrency deteriorated with losses overnight.

BTC bulls go at $ 44,000. run out of breath

Data from Cointelegraph Markets Pro and TradingView show that BTC / USD hit a local low of $ 41,670 on Bitstamp.

The decline followed a $ 1,000 hourly loss late Monday that certainly cut off any upside hopes from the weekend high of $ 44,400.

The change was widely expected. As reported by Cointelegraph, analysts are targeting levels even below $ 40,000 as potential exchanges.

On Monday, a trader also rejected the assumption that Bitcoin’s strength will play out in the new week, arguing that levels above $ 44,000 are simply regaining liquidity before falling again.

#bitcoin

He probably threw off his lagging shorts before lowering his next leg. The idea will void above 45.2k if it builds a bull market structure from there. pic.twitter.com/9ofwkkD8lP

– cevo (@cryptocevo) September 26, 2021

In the meantime, just two days to the end of the month, attention focused on USD 43,000 as the “worst case scenario” for BTC / USD in late September.

PlanB, the analyst who correctly forecast a “worst case” of $ 47,000 for August, also predicted that October will end with at least $ 63,000.

Trader – Bet Wise on the fourth quarter rebound

He is not alone as a growing number of market participants believe the fourth quarter will mark a turning point in the Bitcoin bull cycle.

Related: China Fear Now Infrastructure Bill Fear – 5 Things To Consider For Bitcoin This Week

Among them were famous merchants TechDevwho argues that historical precedent alone requires credibility for a new BTC bull run.

“Investing is a game of probability,” he sums up using a graphic that shows Bitcoin in 2013 and 2021.

“Since the story has proven prophetic in the first three quarters, I think it’s wise to bet on season four.”