{"id":516312,"date":"2024-05-03T12:07:29","date_gmt":"2024-05-03T12:07:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=516312"},"modified":"2024-05-03T12:07:29","modified_gmt":"2024-05-03T12:07:29","slug":"bitcoin-price-prediction-arthur-hayes-says-btc-has-bottomed-mr-100-buys-for-the-first-time-since-the-halving-and-99btc-reaches-for-1m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-arthur-hayes-says-btc-has-bottomed-mr-100-buys-for-the-first-time-since-the-halving-and-99btc-reaches-for-1m","title":{"rendered":"Bitcoin Price Prediction: Arthur Hayes Says BTC Has Bottomed, \u201cMr.100\u201d Buys For The First Time Since The Halving, And 99BTC Reaches For $1M"},"content":{"rendered":"

The Bitcoin price rose 2% in the last 24 hours to trade at $59,165<\/a> as of 02:55 a.m. EST on trading volume that plunged 29% to $29.6 billion.<\/p>\n

This comes as former BitMEX CEO Arthur Hayes believes that Bitcoin has hit a bottom and will steadily go up over the next few months.<\/p>\n

“The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” he said. “While I don’t expect crypto to fully realize the recent US monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher.”<\/p>\n

BTC hit a low of around $56,800 this week, but Hayes says it is set to rally above $60,000 and then stay range-bound between $60k and $70k until August.<\/p>\n

The recent dip prompted BTC whale entity nicknamed “Mr.100” to buy Bitcoin for the first time since the Bitcoin halving event. The Mr.100 whale wallet bought over 4,100 BTC worth over $242 million at around the $58,000 mark.<\/p>\n

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⚡️ JUST IN: ‘Mr. 100’ buys the Bitcoin dip for first time since halving. Is the BTC bottom in? <\/p>\n

Mr. 100, who was previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement. pic.twitter.com\/KjjtLoD5Ut<\/a><\/p>\n

— VIC TRADER (@vicsocialtrader) May 3, 2024<\/a><\/p><\/blockquote>\n