Key takeaways
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Bitcoin recently touched the $50k level for the first time since December 2021.
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Altcoins could rally higher soon and this could see increased investments in projects like Bitbot.
Bitcoin’s rally to $50k could see more investment in cryptos
The cryptocurrency market has been bullish since the start of the year and Bitcoin’s latest rally could result in more investments in altcoins. Bitcoin, the world’s leading cryptocurrency by market cap, recently touched the $50k mark for the first time since December 2021.
The rally comes thanks to increasing inflows into spot Bitcoin exchange-traded funds (ETFs). As more retail and institutional investors enter the crypto market, there will be a focus on new and exciting projects.
Bitbot could be one of the projects that grab investors’ attention thanks to its unique value proposition.
What is Bitbot?
Bitbot is a Web3 project that is set to provide excellent services to cryptocurrency traders. It is a Telegram trading bot that gives users excellent features, enabling them to excel at crypto trading.
Bitbot is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. What makes Bitbot an exciting project is the innovative approaches it intends to provide traders. The tool will leverage Telegram’s position as a leading social media platform for crypto users.
The team also revealed that Bitbot will provide users with high-end features to help them grow their trading portfolios. These features are institutional-grade and will grant traders access to world-class trading functions.
As Bitcoin hits $50k, trading volume in the market increases. Bitbot intends to take advantage of the rising trading volume in the crypto market to gain massive adoption in the coming months and years.
Bitbot’s technological approach to trading
Bitbot is a unique project because it will roll out technological innovations that would benefit traders. The team is working on some tools that would ease the trading process for its users.
According to their whitepaper, security is one of the primary focus of the Bitbot tool. Bitbot will leverage Knightsafe to offer a self-custody solution, mitigating the typical risks associated with Telegram trading.
Furthermore, part of the funds raised from the presale would be used to develop anti-MEV and anti-rug solutions for users to protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.
In addition to that, Bitbot will use ultra-flexible wallet management fuelled by non-custodial API technology to provide an added layer of security to the users.
With the copy trading feature, Bitbot will make it easier to boost the profitability level of traders. The feature will allow traders to copy the trades of the strongest-performing wallets based on on-chain activities.
Bitbot’s presale rakes in $557k
The Bitbot presale is moving excellently and has raised more than $550k. The presale is in the third stage and is close to reaching the $630k target.
The new milestone of $557k shows that Bitbot is gaining fast adoption within the cryptocurrency space. Currently, the $BITBOT token is going for $0.011 but is set to increase to $0.0116 once the fourth round commences.
Bitbot’s tokenomics is easy as the development team will hold 20% of the total token supply and will use it to fund ongoing development. 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.
Click here to read more about Bitbot’s upcoming presale.
Could Bitbot’s token rally higher in 2024?
The Bitbot presale will be concluded in the coming weeks and the token will start trading on cryptocurrency exchanges. With the right level of adoption, $BITBOT’s price could reach new highs in the coming months and years.
Other external factors that could positively affect $BITBOT price include the upcoming Bitcoin halving. The crypto market is expected to record a massive rally following the halving and this could positively affect Bitbot and other gems in the market.
The post Bitcoin’s rally to $50k could see altcoins surge higher: should you buy Bitbot now? appeared first on CoinJournal.
