Bitcoin (BTC) savage below $42,000 on Tuesday, Sept. 28, as the largest cryptocurrency worsened overnight losses.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC bulls run out of steam at $44,000

Information from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,670 on Bitstamp.

The fall followed a $one,000 hourly loss belatedly Monday, which firmly halted whatsoever bullish hopes from the weekend's high of $44,400.

The turnaround was broadly expected. As Cointelegraph reported, analysts were already eyeing levels even below $forty,000 as potential floors.

On Monday, one trader as well refused to believe Bitcoin's strength going into the new week, arguing that levels above $44,000 were only a liquidity grab before heading lower again.

With two days left until the monthly close, meanwhile, attention was on $43,000 equally the "worst-instance scenario" for BTC/USD to finish September.

PlanB, the analyst who correctly predicted the $47,000 "worst case" for Baronial, as well envisages October endmost on at least $63,000.

Trader — "Wise to bet" on Q4 rebound

He is not alone, with an increasing number of market participants firmly convinced that Q4 volition form a turnaround point in the Bitcoin bull run.

Related: Cathay fearfulness is now infrastructure bill fear — 5 things to lookout man in Bitcoin this calendar week

Amid them was pop trader TechDev, who argues that historical precedent alone demands credence be given to a fresh BTC price surge.

"Investing is a game of probability," he summarized against a chart showing Bitcoin in 2022 and 2022.

"When history has proven prophetic for the kickoff 3 quarters, I think it'southward wise to bet on information technology for the fourth."
BTC/USD comparison. Source: TechDev/Twitter