Monat: März 2024

Bitcoin made history last week as it successfully jumped to an all-time high of over $70,000. This record capped a strong record since the coin was trading at less than $1 15 years ago. Its market cap surged to over $1.36 trillion. Other cryptocurrencies like BitBot and Ethereum Classic (ETC) have also done well recently.

Bitcoin price prediction

Bitcoin price has done well over the years as it outperformed most financial assets. The current surge is mostly because of the rising demand among institutional investors as evidenced by the rising ETF inflows.

These inflows have led to more Bitcoin demand at a time when supply growth is expected to drop because of the halving event. Halving will lead to a higher mining difficulty that will reduce the daily amount of coins that are produced to 450. 

On the daily chart, we see that Bitcoin has constantly remained above all moving averages, which is a bullish sign. It also sits slightly below the psychological point at $70,000. Oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have also risen, pointing to ongoing momentum.

Therefore, the outlook for Bitcoin is extremely bullish and could surge to over $75,000 or even $80,000 this week. 

BitBot price forecast

BitBot is one of the most upcoming cryptocurrencies in the industry. Currently in its pre-sale, the developers have raised over $932k from investors who are looking for the next big thing in the crypto industry. 

BitBot is a blockchain project that aims to transform the trading industry for the better. As more people rely on bots for trading, BitBot hopes to provide accurate robots that are non-custodial. 

Its bots will be developed by a team of experienced developers who have been in the industry for decades. In addition to the non-custodial nature, BitBot will have additional features that will make it a better platform.

For example, according to its white paper, BitBot will have a revenue-sharing model that will reward $BITBOT holders. These holders will also have exclusive access to its platform and take advantage of its governance process. 

You can buy the BitBot token here. However, like all tokens, it is worth noting that there are risks involved. This means that any buyer should only invest funds that they are comfortable losing and use the best risk-management strategies.

Ethereum Classic price prediction

Ethereum Classic price has done modestly well in the past few months. It has jumped from last year’s low of $12.40 to almost $40. This recovery is part of the broader cryptocurrency rally. Like Bitcoin, it is also soaring ahead of the upcoming ETC halving set for May.

Ethereum Classic price has constantly remained above all moving averages and the key resistance at $32.47, its highest point in January. The token has also moved above the Ichimoku cloud indicator, which is a bullish sign.

Therefore, the outlook for ETC price is bullish, with the next important level to watch being at $45.67, its highest level in 2023. This means that it has a 27% upside from the current level.

The post Crypto price forecast: Bitcoin, BitBot, Ethereum Classic appeared first on CoinJournal.

Cryptocurrency prices were mixed during the weekend as investors focused on the upcoming US inflation data. Bitcoin remained slightly below $70,000 while Ethereum was stuck at $3,950. Tokens like BabyBonk, Cryptex Finance, and Rarible surged while others like Wen, Solama, and Coq Inu plunged by double-digits. This article looks at what to expect with BitBot, CTX, and BabyBonk.

BabyBonk price forecast 

BabyBonk is a meme coin that was designed with the inspiration of Baby Doge Coin, one of the top tokens today. It is a BNB token that aims to be a better alternative to Bonk, the fourth-biggest meme coin in the world.

In addition to being just a meme coin, the token has more utility such as an NFT collection of 1,000 unique cards. It also has a unique card game known as Bonk Royale that people can play and earn rewards.

BabyBonk price surged hard during the weekend, reaching a high of $0.000000000099, its highest point since March 4th. The token has soared above all moving averages and is nearing its all-time high of $0.000000000010. 

It has also gotten highly overbought, with the Relative Strength Index moving to over 100. The MACD indicator has also soared. Therefore, the outlook for the BabyBonk price is moderately bearish as some investors start to take profits. If this happens, the token could drop and retest the support at $0.000000070. It will then rebound as other cryptocurrencies bounce back.

BitBot prediction

Unlike BabyBonk and Cryptex Finance, BitBot is not a cryptocurrency you can trade for now. Instead, it is a crypto project that has moved to its token sale ahead of its launch in the public market.

BitBot is a company aiming to disrupt the financial trading industry. The developers are aiming to launch a Telegram bot that will send signals to thousands and even millions of users from around the world.

Unlike many other Telegram bots, this one will be non-custodial, ensuring that users retain their full control.

The other benefit is that it will be a decentralized bot, ensuring that the $BITBOT token holders will have a say in the network. They will be able to vote on key decisions and also receive part of the revenue it generates.

BitBot’s token sale is doing well as the developers have raised over $900k from global investors. These investors hope to benefit from the eventual listing of the token in the coming weeks. You can buy the BitBot token here.

Cryptex Finance price forecast

Cryptex Finance’s CTX token has become one of the best-performing cryptocurrencies in the market. It surged to a high of $6 on Saturday, giving it a market cap of over $28 million. As it rose, the token crossed the important resistance point at $3.75, its highest point in March. It invalidated the double-top pattern. 

Cryptex has remained above the 50-period moving average and formed what looks like a bullish pennant pattern. Therefore, the outlook for the token is extremely bullish, with the next point to watch being at $6. A break above that point will confirm the bullish outlook.

The post Crypto price prediction: BitBot, BabyBonk, Cryptex Finance appeared first on CoinJournal.

Cryptocurrencies have continued their remarkable rally this year, outperforming traditional assets like stocks and commodities. Bitcoin has jumped by 57% in 2024, beating the tech-heavy Nasdaq 100 index, which is up by only 7.25%.

Cryptocurrencies are thriving

Most notably, cryptocurrencies have beaten gold even as it trades at its all-time high. And most analysts now predict that the iShares Bitcoin Trust (IBIT) will have more assets than the SPDR Gold ETF (GLD), which has over $56 billion in assets. IBIT has added about $13 billion in about two months.

Token sales are also doing well. As we have written recently, Bitcoin Dogs has raised over $9 million in the past 30 days, making it the fastest-growing token sale this year. BitBot, another token, is about to raise over $1 million.

The trend in the cryptocurrency market is expected to continue in the foreseeable future. For one, there is the rising demand for Bitcoin from institutional investors. In a Tweet, Bill Ackman, the respected billionaire, said that he may consider investing in Bitcoin.

A scenario:

Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues.

Bitcoin… https://t.co/a5LzX69R7q

— Bill Ackman (@BillAckman) March 9, 2024

The other evidence that institutions are doing well is that there is strong inflows in most Bitcoin ETFs. The only fund that is not doing well is the Grayscale Bitcoin Trust (GBTC), which has lost substantial sums of money because of its high fees.

Meanwhile, Bitcoin halving is expected to happen in April, which will lead to more supply challenges. Other coins like Bitcoin Cash, Ethereum Classic, and Bitcoin SV will also have their halving soon. 

The other catalyst for Bitcoin and other cryptocurrencies is the possibility that the Securities and Exchange Commission (SEC) will approve a spot Ethereum ETF this year. That ETF will likely see more institutional demand at a time when Ethereum supply is waning. 

BitBot token sale is doing well

All these factors, coupled with the potential easing cycle by the Federal Reserve and other central banks means that BitBot will likely see more inflows. 

BitBot, as you can see in this white paper, is a cryptocurrency project that seeks to become a major player in the Telegram bot market.

The developers aim to provide a Telegram bot that will send accurate signals to traders from around the world. 

This is a highly competitive market, with the number of these bots expected to continue rising in the long term.

BitBot’s advantage is that it is a non-custodial trading bot, which will have more security than traditional ones. Further, it will have a revenue-sharing feature, where $BITBOT holders will receive payments.

The other feature is that these holders will take part in its governance process. Like with Uniswap, these holders will be able to vote on key issues in the ecosystem like fees and its direction.

Therefore, with a strong community behind it, there is a possibility that the BitBot token will continue doing well when it finally goes public. Recently, we have seen many new tokens like Solama and MAGA surge. You can buy the Bit Bot token here.

The post Crypto bull run has more room to run as BitBot token sale thrives appeared first on CoinJournal.