Cryptocurrency billionaire, Arthur Hayes, thinks that the price of Bitcoin will go down around the time of its “halving. ” This has made people wonder if the bull market for Bitcoin is over.

Arthur Hayes thinks that the price of Bitcoin might go down in April around the halving event, even though most people are positive about it.

This prediction about the price of Bitcoin is based on studying what most people think, the economy, and how the U. S is affecting it. Having enough money in dollars to buy and sell crypto assets. Arthur Hayes, a wealthy individual who is involved in digital currency investments, predicts that Bitcoin’s value will decrease during the halving event.

Arthur Hayes, one of the founders of BitMEX, thinks that the cryptocurrency market will be tough until May, especially for Bitcoin. He believes that the value of Bitcoin will decrease around April 20, when the BTC halving is scheduled to happen.

Many people think that the halving will make prices go up, but Hayes expects them to go down because most people believe it will have a good impact.

Halving Dynamics: The next Bitcoin halving will cut miner rewards in half, from 6. 25 to 3125 Hayes isn’t sure about it. He believes that everyone feeling good about Bitcoin could make the market go down and make the price of Bitcoin drop.
Economic factors: The United States. The amount of money available in the economy may decrease because the Federal Reserve is tightening up its policies and the U. S is facing some challenges. Tax payments are due on April 15, and this could take a lot of money out of the market. The tightening rules and expected increase in TGA balance could cause people to quickly sell their cryptocurrency assets.
Strategic Moves: Hayes changed his investment to match the predictions. He sold assets like Solana (SOL) and changed them into Ethena’s USDe to make more money. He thinks that after May, when the pace of quantitative tightening slows down and there may be new government spending, it could be a better time for trading.

Bitcoin Price Prediction

Today, the price of Bitcoin has dropped to $69,115, which is about 4% lower than before. The value of the asset has dropped below a level that it usually stays above, which could mean that people are feeling differently about the market.

Technical analysis shows that there are levels where the price might stop going up at $71,425, $72,740, and $73,775. The pivot point at $69,875 is an important point where the price could change direction. Bitcoin is expected to have support at $67,525, and then at $66,034 and $64,641 if it goes down.

Bitcoin Price Prediction

Bitcoin Price Chart – Source: Tradingview

The RSI is at 33, which means the market is going down. The 50-day EMA at $69,725 is close to the pivot, showing that the market is uncertain right now.

In summary, Bitcoin is going down and needs to go above $69,875 to start going up again.

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