The price of bitcoin (BTC) recovered this Friday, October 1. The main cryptocurrency in the market opened a new month and the last quarter of this year with an increase of about 8% so far this day.
At the time of writing this article, the price BTC’s market share is $ 47,400. For the first time since last September 20 , the main cryptocurrency is at that level, which it had lost as a result of the Evergrande crisis, one of the main real estate companies in China .
Then, a new bitcoin ban in the Asian giant seemed to end up squandering hopes of a recovery in the cryptocurrency market, which today begins to see this rise.
According to data from CoinMarketCap, bitcoin had already achieved a rise of more than 5% this Thursday, September 30 , going from 41,500 to more than 43,000 dollars during the day. In total, the cryptocurrency has risen more than 10% in a couple of days and seems to be heading back towards $ 50,000 per unit.
As bitcoin recovers its price, the cryptocurrency market once again exceeded 2 trillion dollars in total capitalization. Other major cryptocurrencies have also risen in the last 24 hours .
In that list, Ethereun’s native currency, ether (ETH) stands out, which returns over $ 3,000 . Solana, too, who goes over 150 dollars per unit; or Polkadot, whose market value is over $ 30 right now.
$ 63,000 by the end of October?
PlanB, one of the most recognized analysts in the market, had predicted that BTC would close August around $ 47,000 and September at about $ 43,000. Both predictions were correct and were part of its bearish scenario .
Now, the creator of the valuation model of the cryptocurrency known as stock-to -flow, set the target price for the end of October at $ 63,000 . According to his model, the cryptocurrency should approach $ 100,000 per unit by the end of November and be over 135,000 by the end of this year 2021.
