{"id":503372,"date":"2024-04-09T09:16:58","date_gmt":"2024-04-09T09:16:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=503372"},"modified":"2024-04-09T09:16:58","modified_gmt":"2024-04-09T09:16:58","slug":"bitcoin-price-prediction-btc-gains-2-as-arthur-hayes-warns-of-a-raging-firesale-of-crypto-assets-post-halving-and-this-2-0-ico-looks-to-100x-again","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-gains-2-as-arthur-hayes-warns-of-a-raging-firesale-of-crypto-assets-post-halving-and-this-2-0-ico-looks-to-100x-again","title":{"rendered":"Bitcoin Price Prediction: BTC Gains 2% As Arthur Hayes Warns Of A &#8220;Raging Firesale&#8221; Of Crypto Assets Post Halving And This 2.0 ICO Looks To 100X Again"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price rose 2% in the last 24 hours <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><span style=\"font-weight: 400;\">to trade at $71,145<\/span><\/a><span style=\"font-weight: 400;\"> as of 00:14 a.m. EST on trading volume that surged 88% to $39 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This comes as BitMEX co-founder Arthur Hayes says that Bitcoin and crypto prices more broadly will slump after the halving because of a &rdquo;bag of tricks&rdquo; used by the Federal Reserve to bail out the US financial system.<\/span><\/p>\n<p>&ldquo;Given that the halving occurs at a time when dollar liquidity is tighter than usual, it will add propellant to a raging firesale of crypto assets,&rdquo; Hayes said in a&nbsp;<a href=\"https:\/\/cryptohayes.medium.com\/heatwave-68dc6ccb3d21\" target=\"_blank\" rel=\"noopener\">blog post<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Arthur Hayes predicts that Bitcoin prices will plummet before and after the halving, US dollar liquidity will be tighter than usual at that time, which will add impetus to the crazy selling of crypto assets. However, after May 1, the QT rhythm will slow down and return to the&hellip; <a href=\"https:\/\/t.co\/nOT6D4I7Y8\">pic.twitter.com\/nOT6D4I7Y8<\/a><\/p>\n<p>&mdash; Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1777538343586378231?ref_src=twsrc%5Etfw\">April 9, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Set To Record A New ATH<\/span><\/h2>\n<figure id=\"attachment_503451\" aria-describedby=\"caption-attachment-503451\" style=\"width: 1281px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-503451\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/BTCUSD_2024-04-09_08-14-03.png\" alt=\"Bitcoin Price Chart Analysis Source: Tradingview.com\" width=\"1281\" height=\"555\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/BTCUSD_2024-04-09_08-14-03.png 1281w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/BTCUSD_2024-04-09_08-14-03-300x130.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/BTCUSD_2024-04-09_08-14-03-1024x444.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/BTCUSD_2024-04-09_08-14-03-768x333.png 768w\" sizes=\"(max-width: 1281px) 100vw, 1281px\"><figcaption id=\"caption-attachment-503451\" class=\"wp-caption-text\">BTCUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Bitcoin price has been in a continuous uptrend this year, which saw BTC reach an all-time high (ATH) of $73,737.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, BTC went through a slight retrace, fluctuating within this range, forming an ascending triangle pattern, suggesting potential for a further price increase by the bulls, with the bulls having touched the upper boundary of the triangle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin, having surged past the $70,135 mark, signifies a robust uptrend, igniting speculation about its trajectory toward higher levels. The king of crypto is trading above the pivotal $68,930 level, suggesting a potential continuation of the buying trend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">BTC trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the bullish outlook of the price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Relative Strength Index (RSI) stands at 62, supporting a bullish stance. A decisive move to surge the price may see the RSI soar to the 70-overbought region, indicating intense buying pressure.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Prediction<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The long-term analysis of the Bitcoin price shows a bullish bias as the bulls strive to propel the price over the ascending triangle pattern, aiming to surpass the $80,000 mark. The RSI offers some bullish prospects for optimistic investors to add more tokens, which could push the price higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the 50-day SMA crosses below the 200-day SMA, forming a death cross at $68,141. A death cross negates all the bullish prospects, suggesting an incoming downward trend. In such a scenario, the bulls may retreat to the $68,950 mark. A dip below this threshold may initiate a downward correction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, as the BTC bulls look to propel the price even higher, investors are also buying into Sponge V2, which&nbsp; analysts say has the potential to repeat the 100x pump of its predecessor, Sponge V1, in a bear market last year.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Sponge V2: Best Opportunity For 100X Gains?<\/span><\/h2>\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/sponge\" rel=\"nofollow\">Sponge V2 (SPONGE V2)<\/a> is a meme coin striving to emulate the remarkable success of its predecessor, which hit a peak market cap of <span style=\"font-weight: 400;\">$100 million, had over 13,000 holders, and was listed on multiple centralized exchanges (CEXs). If you missed Sponge V1, you still have an opportunity with Sponge V2.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#128640;Missed 100x in 2023?&#128165; <a href=\"https:\/\/twitter.com\/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SPONGE<\/a> is BACK with V2 &ndash; Bigger, Better, and ready to absorb the damp! <\/p>\n<p>Hurry and stake now to join the ride! &#128293;<a href=\"https:\/\/twitter.com\/hashtag\/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw\">#SpongeV2<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Web3?src=hash&amp;ref_src=twsrc%5Etfw\">#Web3<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Alts?src=hash&amp;ref_src=twsrc%5Etfw\">#Alts<\/a> <a href=\"https:\/\/t.co\/VMooQjC79H\">pic.twitter.com\/VMooQjC79H<\/a><\/p>\n<p>&mdash; $SPONGE (@spongeoneth) <a href=\"https:\/\/twitter.com\/spongeoneth\/status\/1772216915101978792?ref_src=twsrc%5Etfw\">March 25, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In February, the development team phased out Sponge V1, which paved the way for holders to be moved to the more secure and cost-efficient V2 on the Polygon Network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sponge V2 differs from its predecessor as it promises more significant rewards and a robust ecosystem.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw\">#SpongeV2<\/a> blasting off in 2024 &#128640;&#128293;<a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/MemeCoin?src=hash&amp;ref_src=twsrc%5Etfw\">#MemeCoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Alts?src=hash&amp;ref_src=twsrc%5Etfw\">#Alts<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/100x?src=hash&amp;ref_src=twsrc%5Etfw\">#100x<\/a> <a href=\"https:\/\/t.co\/GQQSbLPNla\">pic.twitter.com\/GQQSbLPNla<\/a><\/p>\n<p>&mdash; $SPONGE (@spongeoneth) <a href=\"https:\/\/twitter.com\/spongeoneth\/status\/1773742035503120862?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400;\">Stake $SPONGE V2 On The Polygon Network, 363% Annual Rewards<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You have an opportunity to earn passively through the platform&rsquo;s staking option, where you can <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/sponge\" rel=\"nofollow\"><span style=\"font-weight: 400;\">stake your $SPONGE V2 tokens<\/span><\/a><span style=\"font-weight: 400;\">, earning an impressive 363% annual percentage yield (APY) on the Polygon Network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The team is also set to launch a play-to-earn racer game, available in both paid and free versions, where players will engage in racing competitions and earn token rewards.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Don't forget, <a href=\"https:\/\/twitter.com\/hashtag\/SPONGERS?src=hash&amp;ref_src=twsrc%5Etfw\">#SPONGERS<\/a>! &#129533;&#128166;<a href=\"https:\/\/twitter.com\/hashtag\/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw\">#SpongeV2<\/a> is bringing exciting utility through our upcoming <a href=\"https:\/\/twitter.com\/hashtag\/P2E?src=hash&amp;ref_src=twsrc%5Etfw\">#P2E<\/a> game! &#128293; <\/p>\n<p>Get ready to earn <a href=\"https:\/\/twitter.com\/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SPONGE<\/a> tokens by playing the game and ranking on the leaderboard.<\/p>\n<p>Stay tuned for more info! &#128640;<a href=\"https:\/\/twitter.com\/hashtag\/MemeCoin?src=hash&amp;ref_src=twsrc%5Etfw\">#MemeCoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Alts?src=hash&amp;ref_src=twsrc%5Etfw\">#Alts<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/100x?src=hash&amp;ref_src=twsrc%5Etfw\">#100x<\/a> <a href=\"https:\/\/t.co\/5aaLxGz8N1\">pic.twitter.com\/5aaLxGz8N1<\/a><\/p>\n<p>&mdash; $SPONGE (@spongeoneth) <a href=\"https:\/\/twitter.com\/spongeoneth\/status\/1771117138381525404?ref_src=twsrc%5Etfw\">March 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">According to 99Bitcoins, a popular crypto channel on YouTube with over 700K subscribers, Sponge V2 could soar a further 100X.&nbsp;<\/span><\/p>\n<p><iframe title=\"New 50X Potential Crypto BUY NOW!? MISSED SPONGE V1 DON'T MISS V2! Sponge V2 has 100X Potential\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/QBOKO7TfAq8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">To join the presale, <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/sponge\" rel=\"nofollow\"><span style=\"font-weight: 400;\">you can buy the Sponge V2 tokens on the official website here<\/span><\/a><span style=\"font-weight: 400;\">. Link your digital wallet to swap your ETH or USDT for V2 tokens. You can also purchase the tokens directly using your bank card.&nbsp;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Related News<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/shiba-inu-price-prediction-2024-moon-crash-landing-calsona-caibe\/\"><span style=\"font-weight: 400;\">&#128021;&#128200; Shiba Inu Price Prediction 2024: &#128640; To The Moon Or &#128201; Crash Landing?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-crypto-icos-2024-top-picks-big-returns-juliana-clarisse-calsona-zcxqe\/\"><span style=\"font-weight: 400;\">&#128640;&#129297;&#128176; Best Crypto ICOs of 2024: Top Picks for Big Returns &#128176;&#129297;&#128640;<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\/\"><span style=\"font-weight: 400;\">How to Buy Bitcoin Online Safely<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Smog (SMOG) - 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This comes as\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC Gains 2% As Arthur Hayes Warns Of A &quot;Raging Firesale&quot; Of Crypto Assets Post Halving And This 2.0 ICO Looks To 100X Again\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-09T09:16:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/bitcoin-crypto-currency-1024x640.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evans Karanja\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nmivanco\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Evans Karanja\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372\"},\"author\":{\"name\":\"Evans Karanja\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/72acfe14b9166e2ecc820938305f46b6\"},\"headline\":\"Bitcoin Price Prediction: BTC Gains 2% As Arthur Hayes Warns Of A &#8220;Raging Firesale&#8221; Of Crypto Assets Post Halving And This 2.0 ICO Looks To 100X Again\",\"datePublished\":\"2024-04-09T09:16:58+00:00\",\"dateModified\":\"2024-04-09T09:16:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372\"},\"wordCount\":712,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372#respond\"]}],\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/503372\",\"name\":\"Bitcoin Price Prediction: BTC Gains 2% As Arthur Hayes Warns Of A \\\"Raging Firesale\\\" Of Crypto Assets Post Halving And This 2.0 ICO Looks To 100X Again - InsideBitcoins.com\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"datePublished\":\"2024-04-09T09:16:58+00:00\",\"dateModified\":\"2024-04-09T09:16:58+00:00\",\"description\":\"The Bitcoin price rose 2% in the last 24 hours to trade at $71,145 as of 00:14 a.m. EST on trading volume that surged 88% to $39 billion. 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