Bitcoin Price Prediction: BTC Rises 2%, This 2.0 ICO Expects 100x Again As Arthur Hayes Warns of “Fierce Bull Sell” After Crypto Asset Halving.

adminApril 9, 2024

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Bitcoin price rose 2% in the last 24 hours. Traded for $71,145 As of 0:14 AM EST, trading volume had increased 88% to $39 billion.

This comes as BitMEX co-founder Arthur Hayes said Bitcoin and cryptocurrency prices more broadly would fall after the halving due to a “scheme” being used by the Federal Reserve to bail out the US financial system. It will.

“Given that the halving occurs at a time when dollar liquidity is tighter than usual, it will add momentum to the furious selling of crypto assets,” Hayes said in a blog post.

Arthur Hayes predicted that Bitcoin prices would plummet around the halving and that U.S. dollar liquidity would be tighter than usual at that time, spurring a crazy sell-off in the cryptocurrency asset. However, after May 1, the QT rhythm slows down and returns to the original rhythm. pic.twitter.com/nOT6D4I7Y8
— Wu Blockchain (@WuBlockchain) April 9, 2024

Bitcoin price is set to hit a new ATH

Bitcoin price chart analysis Source: Tradingview.com — BTCUSD Chart Analysis Source: Tradingview.com

Bitcoin price has continued to rise this year, with BTC reaching an all-time high (ATH) of $73,737.

However, BTC fluctuated within this range and went through a slight retracement, forming an ascending triangle pattern. This suggests the possibility of further price rises by the bulls as they touch the upper border of the triangle.

Bitcoin’s surge past $70,135 indicated a strong upward trend and sparked speculation about a trajectory toward higher levels. The king of cryptocurrencies is trading above the important $68,930 level, suggesting that the buying trend is likely to continue.

BTC is trading above its 50-day and 200-day simple moving average (SMA), which supports the bullish outlook for the price.

The relative strength index (RSI) stands at 62, supporting the bullish stance. A decisive move for a price surge would see the RSI surge towards the 70 overbought area, indicating intense buying pressure.

Bitcoin price prediction

Long-term analysis of Bitcoin price shows a bullish bias as bulls try to push the price beyond the ascending triangle pattern, aiming to break above $80,000. RSI provides a bullish outlook that encourages optimistic investors to add more tokens, which can push the price higher.

However, the 50-day SMA crosses below the 200-day SMA, forming a dead cross at $68,141. A dead cross invalidates any optimistic outlook and suggests a downward trend. In this scenario, the bulls could retreat to the $68,950 level. If it falls below this threshold, a downward adjustment may begin.

Meanwhile, investors are also buying Sponge V2 as they expect the BTC rally to push the price higher. Analysts say it’s likely to repeat the 100x pump of its predecessor, Sponge V1, during last year’s bear market.

Sponge V2: Your Best Chance to Earn 100X Profits?

Sponge V2 (SPONGE V2) is a meme coin that strives to emulate the incredible success of its predecessor, which achieved the highest market capitalization. It has $100 million, over 13,000 holders, and is listed on several centralized exchanges (CEXs). If you missed Sponge V1, there’s still a chance to get Sponge V2.

🚀Did you miss 100X in 2023?🎉 $sponge We’re back with V2 – bigger, better and ready to soak up the moisture!
Hurry up and stake your stake now to join the ride! 🔥#SpongeV2 #web3 #Cryptocurrency #how pic.twitter.com/VMooQjC79H
— $SPONGE (@spongeoneth) March 25, 2024

In February, the development team phased out Sponge V1, paving the way for holders to move to the more secure and cost-effective V2 on the Polygon Network.

Sponge V2 differs from previous versions in that it promises more rewards and a stronger ecosystem.

#SpongeV2 Explosion in 2024 🚀🔥#Cryptocurrency #memecoin #how #100x pic.twitter.com/GQQSbLPNla
— $SPONGE (@spongeoneth) March 29, 2024

Stake $SPONGE V2 on Polygon Network and receive 363% annual rewards.

There are opportunities to earn passively through the platform’s staking options. Stake your $SPONGE V2 tokensI got an impressive Annual Percentage Yield (APY) of 363% from Polygon Network.

The team will also release a play-to-earn racer game that will be available in paid and free versions where players can participate in racing competitions and earn token rewards.

Do not forget it. #Sponger! 🧽︎#SpongeV2 has some exciting utilities coming soon. #P2E game! 🔥
Get ready to profit $sponge Play games to earn tokens and rank on the leaderboard.
Stay tuned for more details! 🚀#memecoin #Cryptocurrency #how #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024

According to 99Bitcoins, a popular cryptocurrency channel on YouTube with over 700,000 subscribers, Sponge V2 could rise another 100x.

To participate in the pre-sale: You can purchase Sponge V2 tokens on the official website here.. Connect your digital wallet to exchange ETH or USDT for V2 tokens. You can also purchase tokens directly using your bank card.