The positive price evolution for the first days of September

The positive price evolution for the first days of September

During the month of Monday, the price of Bitcoin returned to over $ 10,000, reaching $ 10,400 according to Coinmarketcap. The positive price evolution comes after a week when BTC fluctuated between $ 9400-9700, with reduced transaction volumes.


According to analysts, the positive price evolution took place on the basis of three factors:

  • Liquidation of shorts contracts on BitMEX;
  • Expiration of CME futures contracts;
  • Influx of USDT introduced on the market by Tether.

In the last 24 hours, shorts contracts worth about $ 3.5 million have been liquidated on the BitMEX derivatives platform. Also, on August 31, the deadline for CME futures contracts expired. Historically, these activities are causing a price increase for Bitcoin.

USDT – Major changes

In addition, on September 2, Tether made several major USDT moves. According to reports published by WhaleAlert on Twitter, $ 7 million was transferred into an unknown wallet and another $ 10 million was issued.

7,000,000 #USDT ($ 7,014,281) transferred from Tether Treasury to unknown wallet

Tx: https://t.co/THhkneSMcR

– Whale Alert (@whale_alert) September 2, 2019

According to a recent analysis by analyst Luke Martin:

“The ongoing evolution of the BTC has a good chance of recovering a position of over $ 10,000. The price consolidation period generated a ramp for organic growth up to $ 10,300 ”.

At the same time, Google searches for the term Bitcoin saw a sudden increase over the course of Monday. Apparently, interest in BTC has risen sharply in most countries, without apparent justification.

Read This Now:   “Ether is a commodity, not a security”

Google Trends shows that current values ​​reached December 2017, when Bitcoin reached a record high of $ 20,000.


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