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.

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