Key takeaways
Bitcoin’s selling pressure continues as BTC dips below $40k
Bitcoin, the world’s number one cryptocurrency by market cap, has been underperforming over the last few days. It is down by more than 20% since the spot Bitcoin exchange-traded funds (ETFs) were approved two weeks ago.
At press time, the price of Bitcoin stands at $39,761, down by roughly 1% in the last 24 hours. Despite the current bearish trend, market participants still expect the bull market to launch in full force this year.
The Bitcoin halving is barely three months away and it usually signals the beginning of a Bull Run. If the bullish cycle commences this year, Bitcoin and altcoins could record massive gains in the coming months.
What is Bitbot?
The current bearish trend in the market hasn’t put a dent in the Bitbot presale. It has been a week since the Bitbot presale began and it has already crossed an important milestone.
The rising demand for Bitbot’s token can be attributed to its unique value proposition in the market. Bitbot is a Telegram trading bot that puts the power in the hands of the user. It is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram.
Bitbot provides an innovative way of trading as it leverages Telegram’s position as one of the leading social media platforms for crypto users.
Per the development team, Bitbot will provide numerous powerful features to help traders grow their trading portfolios. The features would be institutional-grade, granting them access to world-class trading functions.
The Bitbot team comprises individuals with vast experience in various fields including traditional finance and blockchain. With Bitcoin expected to reach new highs in the coming months, trading volume will skyrocket in the crypto market if that happens.
Bitbot’s trading innovations
Bitbot is working to develop excellent trading tools for traders. With the right level of adoption, its native token could become one of the biggest winners in the bull cycle.
An exciting aspect of Bitbot is that the tool prioritises security. According to the team, Bitbot will work with Knightsafe to offer a self-custody solution. Thus, mitigating the typical risks associated with Telegram trading.
Part of the funds raised from the presale will be directed towards the development of anti-MEV and anti-rug solutions for users to protect their assets. These features would enable traders to protect themselves from bots artificially pumping transaction costs and block scam projects.
BitBot uses an ultra-flexible wallet management fuelled by non-custodial API technology. The trading tool also uses the open-source smart contract wallet to provide a way superior security level for the non-custodial solution to users.
Bitbot is working on a copy trading feature that would allow investors to copy the trades of the strongest performing wallets based on on-chain activities; predicted to be one of the most popular aspects of the product.
Bitbot raises over $300k in a week
The Bitbot presale is moving on excellently. The team has raised more than $300k a week after the presale began. The presale is currently in its second stage and the team is close to reaching the $410,000 target set for this round.
The new milestone of $300k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.0105 in the current presale round and will increase to $0.011 once the third round commences.
Per the whitepaper, 20% of tokens will be held by the Bitbot development team to fund ongoing development. 14% to marketing & CEX listings while 3% is allocated to exchange liquidity provision.
Click here to read more about Bitbot’s upcoming presale.
Could Bitbot be a top performer in 2024?
The US SEC has already approved spot Bitcoin ETFs and the Bitcoin halving is 89 days away. These catalysts could help push Bitcoin’s price to a new all-time high this year and the broader crypto market could benefit.
The Bull Run could favour low-cap gems and Bitbot could be one of the biggest winners. Bitbot is putting in the work to become an excellent project for cryptocurrency traders.