{"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":"<p>The Bitcoin price rose 2% in the last 24 hours <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\">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<p>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<p>&ldquo;The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,&rdquo; he said. &ldquo;While I don&rsquo;t expect crypto to fully realize the recent US monetary announcements&rsquo; inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher.&rdquo;<\/p>\n<p>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<p>The recent dip prompted BTC whale entity nicknamed &ldquo;Mr.100&rdquo; 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<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#9889;&#65039; JUST IN: &lsquo;Mr. 100&rsquo; buys the Bitcoin dip for first time since halving. Is the BTC bottom in? <\/p>\n<p>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. <a href=\"https:\/\/t.co\/KjjtLoD5Ut\">pic.twitter.com\/KjjtLoD5Ut<\/a><\/p>\n<p>&mdash; VIC TRADER (@vicsocialtrader) <a href=\"https:\/\/twitter.com\/vicsocialtrader\/status\/1786242394201161856?ref_src=twsrc%5Etfw\">May 3, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Price Set To Surge Over The Bullish Pennant Pattern<\/h2>\n<figure id=\"attachment_516313\" aria-describedby=\"caption-attachment-516313\" style=\"width: 1281px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-516313\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/IMG_2901.png\" alt=\"Bitcoin Price Chart Analysis Source: Tradingview.com\" width=\"1281\" height=\"555\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/IMG_2901.png 1281w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/IMG_2901-300x130.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/IMG_2901-1024x444.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/IMG_2901-768x333.png 768w\" sizes=\"(max-width: 1281px) 100vw, 1281px\"><figcaption id=\"caption-attachment-516313\" class=\"wp-caption-text\">BTCUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\n<p>The Bitcoin price has been on a steady rise since October last year hitting new yearly highs, which saw it surpass the previous all-time high (ATH) of $69,000 to a new ATH at $73,737. However, this level has remained a challenge for the bulls. The price has been fluctuating within this range, forming a bullish pennant.<\/p>\n<p>With the recent dip, BTC surpassed the lower boundary of the pennant, breaching the $60,000 critical support to as low as $56,800. This level has acted as the local support, set to encourage the bulls to push the price higher.<\/p>\n<p>BTC trades above the 200-day Simple Moving Average (SMA), a confirmation of the bullish potential to the upside. A sustained bullish stance could allow BTC to overcome the 50-day SMA hurdle at $66,096.<\/p>\n<p>Moreover, the Relative Strength Index (RSI) is rebounding from the 30-oversold level, currently at 36. A signal that buyers are now buying. If the buying action continues, the RSI could surge to the 50-midline level as it heads to the 70-overbought region, an indication of intense buying pressure.<\/p>\n<h2>Bitcoin Price Prediction<\/h2>\n<p>The Bitcoin price analysis indicates that BTC is set for an upward price movement above the bullish pennant as the bulls target a new ATH at $85,000.<\/p>\n<p>With the RSI already crossing to the 30-oversold region, BTC bulls could prompt a buyback campaign, which could advertently push the price higher above the $73,000 resistance.<\/p>\n<p>Conversely, in the instance the bears take control of the price at this level, Bitcoin could retrace back to the support zone at $49,636, which coincides with the 200-day SMA.<\/p>\n<p>Meanwhile, with the BTC price seemingly headed in a northern direction, investors are also diversifying their portfolios via the $99BTC presale, which has raced to within a whisker of $1 million raised.<\/p>\n<h2>99Bitcoins Raises Over $990K &ndash; Best Crypto To Buy Now?<\/h2>\n<p>The <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\">99Bitcoins (99BTC)<\/a> educational platform has over 700,000 subscribers on its YouTube channel and over two million people registered for the website&rsquo;s courses. It uses a simplified approach with interactive videos to make learning about the blockchain space easier and fun.<\/p>\n<p>99Bitcoins now aims to create a decentralized platform where people can easily learn about crypto and leverage their education to earn tokens.<\/p>\n<p>Its Learn-to-Earn model utilizes a combination of gamification and a leaderboard reward system that means you earn crypto by learning about crypto.<\/p>\n<p>99Bitcoins also integrates with BRC-20, which paves the way for the building of dApps on the Bitcoin network.<\/p>\n<p>Users also have an opportunity to earn passively through <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\">the platform&rsquo;s staking mechanism<\/a>,which offers an annual percentage yield (APY) of a whopping 1,833%.<\/p>\n<p>According to Jacob Bury, a popular crypto analyst on YouTube, 99BTC has the potential to turn $1K into $10K.<\/p>\n<p><iframe title=\"New 10x Potential Crypto Presale 99Bitcoins - Flip $1k into $10k?!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/G2trqq3KNYE?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>You can buy 99BTC now for $0.00103, with a price hike coming in less than six days. If you are interested, buy soon for the best price.<\/p>\n<p>To join the presale, <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\">you can buy $99BTC from the official website here<\/a>. You have the option of buying the tokens using ETH, USDT, or a bank card.<\/p>\n<h2>Related News<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.linkedin.com\/pulse\/best-crypto-buy-now-2024-top-picks-explosive-growth-calsona-6bnie\">Best Crypto to Buy Now (2024): Top Picks for Explosive Growth! <\/a><\/li>\n<li><a href=\"https:\/\/www.linkedin.com\/pulse\/next-crypto-explode-unveiling-potential-market-shaker-calsona-hmwze\">Next Crypto to Explode: Unveiling the Potential Market Shaker of 2024 <\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\/credit-card\/\">How to Buy Bitcoin with Credit Card<\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The Bitcoin price rose 2% in the last 24 hours to trade at $59,165 as of 02:55 a.m. EST on trading volume that plunged 29% <a class=\"read-more-link\" href=\"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=\"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\">[&#8230;]<\/a><\/div>","protected":false},"author":1907,"featured_media":516319,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>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 - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The Bitcoin price rose 2% in the last 24 hours to trade at $59,165 as of 02:55 a.m. EST on trading volume that plunged 29% to $29.6 billion. 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