Bitcoin Price Prediction: “Extreme Fear” Hits As Arthur Hayes Sees BTC At $50K After US Jobs Report, But Experts Say This P2E SHIB Might Explode

The
Bitcoin
price
dropped
1%
in
the
last
24
hours


to
trade
at
$56,311

as
of
00:23
a.m.
EST
on
trading
volume
that
tumbled
4%
to
$30
billion.

The
BTC
price
fell
slightly
below
$56,000,
sparking
concerns
among
investors,
before
rebounding.
The
Crypto
Fear
&
Greed
Index
slumped
to
22,
showing
”extreme
fear”
among
investors.

BitMEX
co-founder
Arthur
Hayes
added
to
the
bearish
narrative
when
he
said
he’s
shorting
Bitcoin
and
predicted
BTC
will
plunge
to
$50k
this
weekend
following
the
US
jobs
report
today.

$BTC
is
heavy,
I’m
gunning
for
sub
$50k
this
weekend.
I
took
a
cheeky
short.
Pray
for
my
soul,
for
I
am
a
degen.

—
Arthur
Hayes
(@CryptoHayes)

September
6,
2024

Such
a
prediction
comes
amid
concerns
about
the
sluggish
U.S.
economy
and
disappointing
employment
data. 

Bitcoin
Price
Bearish
–
A
Bullish
Trend
Reversal
Incoming?

The
Bitcoin
price,
as
it
coincides
with
the
overall
negative
sentiment
of
the
market,
has
been
trading
within
the
falling
channel
pattern,
according
to
data
from


GeckoTerminal.
The
$60,000
resistance
still
remains
a
challenge
for
the
bears.

BTC
now
trades
below
both
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
which
aligns
with
the
current
price
correction.

Even
though
the
Relative
Strength
Index
(RSI)
still
trades
below
the
neutral
zone,
currently
at
39,
it
shows
signs
of
a
rebound,
which
could
suggest
that
buying
pressure
may
pick
up
at
this
level.

With
the
asset
being
undervalued
and
investors
selling
more,
the
Bitcoin
price
may
rebound
in
the
coming
days
as
the
selling
opens
up
more
buying
positions.
In
this
scenario,
the
bulls
may
propel
the
price
of
Bitcoin
to
a
bullish
trend
reversal
as
they
target
$64,000.

However,
if
the
selling
continues
and
the
price
of
Bitcoin
maintains
the
bearish
momentum,
BTC
price
could
plunge
further
back
to
the
$54,300
support
level.

Meanwhile,
as
the
Bitcoin
price
market
remains
uncertain,
some
investors
are
diversifying
their
portfolios
with


Shiba
Shootout
(SHIBASHOOT),
a
new
Shiba
Inu
derivative
that
has
hurtled
past
the
$1
million
milestone
in
its
presale.

Shiba
Shootout
Presale
Blasts
Past
$1
Million,
Best
Meme
Coin
To
Buy
Now?

Shiba
Shootout
is
gaining
attention
for
its
Wild
West-themed
platform.
This
community-driven
project
combines
creativity
and
competition
in
a
unique
digital
frontier
setting.

Its
P2E
game
called
Shiba
Sharpshooters
is
built
around
the
town
of
Shiba
Gulch,
a
bustling
digital
settlement
that
is
a
favorite
with
Shiba
lovers
who
come
together
to
challenge
each
other.

Master

#Crypto
strategy
with

#Shiba
cowboys
in
thrilling
duels
for
big
rewards!
????
Join
the
adventure!

Sign
up
now
to
get
your
free
$SHIBASHOOT
tokens!

Jump
in
the
fun!
????

https://t.co/jCeu7XMBqR

pic.twitter.com/YjlGaaluBT

—
shibashootout
(@shibashootout)

June
28,
2024

The
mobile
game
has
already
amassed
over
1,000
downloads
on
the
Google
Play
Store,
with
a
Web3
app
launching
soon.

Apart
from
P2E
crypto
gaming
in
Shiba
Gulch,
$SHIBASHOOT
holders
can
also
easily
earn
passively
through


the
platform’s
staking
mechanism,

which
offers
868%
in
annual
rewards.

According
to
the
crypto
channel
99Bitcoins,
with
more
than
706k
subscribers,
investors
who
buy
$SHIBASHOOT
can
earn
“insane
rewards.“

If
you
are
interested
to
join
the
presale,
you
can
buy
the
token
now
for
$0.0201.
But
hurry
as
the
price
will
increase
in
less
than
three
days.

You
can
buy
SHIBASHOOT
tokens
on
the
official
website
here

using
ETH,
BNB,
USDT,
or
a
bank
card.

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