Bitcoin Price Prediction: The learning cryptocurrency is heading towards $1 million as Arthur Hayes sees a possible bull market in the $1.4 trillion US liquidity boost.

adminApril 27, 2024

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Bitcoin price is little benefit It was trading at $64,183.60 as of 5:40 a.m. ET over the past 24 hours as investors slowly bought the largest cryptocurrency by market capitalization.

BTC’s flat trading may not last long. Former BitMEX CEO Arthur Hayes has predicted that the cryptocurrency market could see a “reacceleration” of the bull market due to potential changes in the US economy.

Hayes said the April 26 measure led by Treasury Secretary Janet Yellen could bring in as much as $1.4 trillion in liquidity. X post. This additional capital could boost riskier asset classes, including cryptocurrencies.

Bitcoin price loses key support.

BINANCE:BTCUSDT Chart Image Credit: StevenWalgenbach

BTC/USDT 4-hour chart (Source: TradingView)

that much Bitcoin The price fell below the $65,104.05 support in the last 48 hours and has not recovered above this point since. Bulls have been trying to push the prices of major cryptocurrencies back above this key level over the past 24 hours, but sellers have blocked any major moves.

As a result, BTC is currently at risk of falling to the next support level at $60,714.87 in the coming days. This bearish argument could be invalidated if Bitcoin price closes a 4-hour candle above $65,104.05 within the next 12 hours.

Traders can identify the 4-hour candle just above this barrier as a buy entry. With the possibility of incoming buying pressure, the Bitcoin price may continue to rise towards the $69,085.36 resistance level.

Sufficient bullish momentum may cause market leaders to turn this price range into support. BTC Then you can have a platform that can reach up to $74,005 in the short term.

Bitcoin price about to enter new bullish phase

Technical indicators on the BTC 4-hour chart are sending mixed signals. Meanwhile, the relative strength index (RSI) is showing weakness below the simple moving average (SMA) line. The former is also negatively slanted.

This not only means that the seller has an advantage over the buyer, but also warns that the seller is getting stronger. Therefore, it will be easier for bears to push Bitcoin price lower over the next 24 hours than for bulls to push it higher.

On the other hand, Moving Average Convergence Divergence (MACD) is on the verge of triggering a major bullish technical signal. BTC appears to be close to entering a new bullish phase, with the MACD line rising towards the MACD signal line.

With BTC about to enter a new bull period and Hayes looking at the potential to inject $1.4 trillion of liquidity into the U.S. economy, Bitcoin Derivatives 99Bitcoin It appears to be well positioned to profit.

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This earning potential is increased by the fact that users have access to more educational content as they complete tasks.

With approximately 2 million users registered on the platform and over 700,000 community members across all social platforms, 99BTC has immediate access to a large pool of potential investors.

Investors are rushing to buy 99BTC and participate in the lucrative staking program.

Investors poured more than $830,000 into the pre-sale of 99BTC. This enthusiasm for learning tokens can be partially attributed to the fact that they offer 2,237% annual staking returns.