Bitcoin (BTC) lost most of its value overnight due to the disruption of service from cryptocurrency exchange giant Bitfinex on September 30.
Bitfinex is investigating the issue
According to data from Cointelegraph Markets Pro and TradingView, the BTC / USD pair fell below $ 43,000 due to the news, after climbing as high as $ 43,800 during the day.
“We are investigating the issue with the platform and have temporarily suspended trading,” explained crypto exchange Bitfinex, which was experiencing downtime. While the source of the problem is not yet known, already fragile market sentiment was easily affected.
We are investigating issues with the platform and need to temporarily stop trading. We will keep everyone updated here and on our status page https://t.co/u3pYCVVGQq as we learn more.
We apologize for any inconvenience.
– Bitfinex (@bitfinex) September 30, 2021
Binance, the largest cryptocurrency exchange in terms of trading volume, also stopped trading for two hours as part of scheduled maintenance on Tuesday. This situation did not have a significant effect on the price of BTC.
On Thursday, the last day of the month, Bitcoin is trading at $ 43,000, which is the “worst-case monthly close forecast.”
This prediction was put forth by PlanB, the creator of the stock flow model, who made an accurate prediction by saying that the minimum closing price for August would be $ 47,000.
Investor and analyst Rekt CapitalHe said that for BTC / USD to regain bullish momentum, it must break above its 21-week moving average at the end of Sunday.