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Tag: 40K

  • Bitcoin slips below $40k as Bitbot’s presale surpasses $300k

    Bitcoin slips below $40k as Bitbot’s presale surpasses $300k

    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.

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  • Will it reach the $40k psychological level soon?

    Will it reach the $40k psychological level soon?

    Key takeaways

    Bitcoin eyes the $40k level

    Bitcoin, the world’s leading cryptocurrency by market cap, has been performing well over the last few weeks. It has added more than 7% to its value in the last seven days and the price of Bitcoin currently stands at $37,100 per coin.

    The broader cryptocurrency market has also been rallying, with the total crypto market cap now at $1.4 trillion mark. If the bulls remain in control, Bitcoin could test the $40k resistance level in the short term. 

    What is Memeinator?

    Bitcoin and the other major cryptocurrencies have been rallying since the start of the week. With the market experiencing a rally, investors could be looking at new projects and Memeinator is one to keep an eye on. 

    Memeinator is a Web3 project that is riding the meme coin wave and seeks to provide numerous utilities to users. The team focuses on eliminating worthless memes and improving content creation for users. 

    Memeinator also wants to become one of the top meme coins in the cryptocurrency space. The project wants to leverage AI technology to identify worthless memes, allowing investors to know them and avoid them. 

    The team pointed out that they will be working hard to ensure Memeinator reaches a $1 billion market cap in the medium term and would achieve this via massive adoption of its platform. 

    The Memeinator presale is currently in its sixth stage and the team has raised more than $1.2 million. The MMTR price began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early-bird investors a whopping 132% ROI at listing.

    Furthermore, the developers will launch a Memeinator game at the presale’s conclusion. The Memeinator game players will get to eliminate enemy memes to win some exciting prizes. 

    Why is the Memeinator presale attracting more investors?

    Memeinator continues to attract more investors thanks to its unique project proposition. The project is appealing to a wide range of audiences, from degens to crypto natives and speculators, giving it the opportunity to become a hit in the market. 

    The platform will use AI to analyse and evaluate memes on the internet, identifying lower-quality memes to replace or “destroy. Memeinator is also dedicated to uplifting meme culture and quality.

    Holders and network participants will be incentivized on the Memeinator network. The MMTR token has some excellent features, such as deflationary mechanisms and rewards for holders, incentivising the project for holders in the long term. 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

    Click here to read more about the Memeinator presale.

    Is the Memeinator a good investment? 

    The Memeinator project has so far raised over $1.2 million since the presale began. The project is an exciting one for investors thanks to its use of AI technology to provide excellent value to investors in the medium and long term.

    The team intends to grow the project to a billion-dollar market, and early investors would record huge profits if that happens. With the right level of adoption, Memeinator could become one of the top meme tokens in the cryptocurrency ecosystem. 

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  • Crypto Fear and Greed Index Points to Bitcoin Price Path to $40K

    Crypto Fear and Greed Index Points to Bitcoin Price Path to $40K

    Crypto fear and greed index has moved to the greed area ahead of the upcoming Bitcoin options expiry. Bitcoin price was trading at $30,392 on Wednesday, where it has been in the past few days. This price is a few points below the year-to-date high of $31,478. At its peak, the coin jumped by more than 104% from the lowest level in 2022.

    Fear and greed index points to greed

    The crypto fear and greed index has made a strong recovery in the past few weeks. It has moved from the fear zone of 41 to the greed area of 62. This means that investors are getting modestly greedy helped by the recent ETF news. The most recent Bitcoin news came on Tuesday when Fidelity announced that it had filed its ETF proposal with the SEC.

    Investors believe that a spot ETF will lead to more demand for Bitcoin from institutional investors. Still, this view should be taken with a grain of salt since ProShares Bitcoin Strategy ETF (BITO) has had modest growth in the past few years. It now has about $1 billion in assets. While BITO tracks Bitcoin futures, it has a close correlation with Bitcoin itself.

    The fear and greed index points to more upside for Bitcoin since investors tend to buy it when there is greed in the market. Perhaps, these gains will happen ahead or after the upcoming Bitcoin options expiry scheduled for Friday this week. 

    Data shows that most of these options are calls with a strike price of about $30,000. This explains why Bitcoin has barely moved this week.

    Bitcoin price prediction

    A good technical analysis can help you predict the next price action of a cryptocurrency or other assets. Turning to the daily chart, we see that Bitcoin is oscillating at the 50% Fibonacci Retracement level. This is an important level that traders look at.

    At the same time, this is an important price since it was the highest point on April 14th. Most importantly, the coin has formed what looks like a bullish pennant pattern. Therefore, there is a likelihood that the price will soon have a bullish breakout as buyers target the next key level at $35,000. This price is about 15% above the current level. A move above this level will see it jump to the next resistance point at $40,000.

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