Kategorie: Crypto Analysis

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.

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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.

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• Record trading volumes on spot ETFs have been linked to profit-taking. 
• Bitcoin Dogs rides Bitcoin price trends cemented by its Web 3.0 utility.
• Over $7.7 million has been raised in Bitcoin Dogs presale.

Record ETF trading volumes and BTC cooling off from its record price are two events keenly watched this week. The latest data shows the total trading volume on the 10 spot ETFs surpassed $10 billion. The record trading volumes highlight increased activity on Bitcoin. Nonetheless, buying trends are observed on Bitcoin Dogs, which saw more than $7.7 million in presale. With 9 days to the end of the presale, analysts expect Bitcoin Dogs price to skyrocket after listing.

Record trading volumes spot ETF volumes vs. Bitcoin price

It has been a busy week for Bitcoin after it reached its all-time high above $69,000. However, BTC price cooled off at this crucial market level. At the time of this publication, the world’s largest cryptocurrency had lost an intraday of 2.70%. The cryptocurrency was exchanging hands at $66,716.

Meanwhile, the ten listed spot Bitcoin ETFs inked a new record of $10 billion in trading volume. The volume breached last week’s daily record. Nonetheless, there is a difference in the two trading volumes.

Last week’s record volumes were attributed to large inflows into ETFs. This coincided with a surge in the price of Bitcoin, helping the cryptocurrency to claim its 2021 record. However, the new record trading volumes have been associated with heavy profit-taking. 

New data shared by Bloomberg ETF analyst Eric Balchunas showed that the $BITI ETF blew its record by most. This is not a surprise since it is a short Bitcoin ETF. Conversely, the decline in the price of Bitcoin goes unnoticed, cementing the selling hypothesis. Investors might be locking in some profits after Bitcoin remained bullish for a large part of the month. 

Bitcoin Dogs: A presale sensation breaches $7.7B

Just as Bitcoin continues to rattle crypto markets, Bitcoin Dogs is riding on this sentiment. It is not usual to witness a presale that is barely 3 weeks raise more than $7.7 million. Being the first BRC-20 token, investors have been attracted to the token riding on the legacy Bitcoin network. Even as inflows into Bitcoin ETFs continue, Bitcoin Dogs attract suitors. But let’s look beyond its parent, Bitcoin.

Bitcoin Dogs is a utility token, and one fact that has attracted a lot of attention is NFTs. As its team word has it, Bitcoin Dogs will be the biggest Bitcoin Ordinals NFT collection. The team will mint 10,000 unique tokens to be distributed to $0DOG holders. The opportunity lies in curating and selling these tokens on a decentralised market. This is especially true with the projected NFT market uptake in the bull market of 2024. 

Gaming and metaverse are also articulated goals in the Bitcoin Dogs ecosystem. Owing Bitcoin Dogs tokens entitles holders to perks and immersive experiences within the Dog community. Coin holders can engage in competitions and interactions or simply take their dogs through training sessions. The lively gameplay and virtual experiences cement Bitcoin Dogs’ role in Web 3.0. 

Is it the right time to buy Bitcoin Dogs?

With 9 days to go, there is no other time to purchase Bitcoin Dogs. This is the opportunity to acquire tokens before listing when the price is low. Besides, the $0DOG price rises at each stage of the presale. This has attracted investors looking to acquire tokens at a lower price than the rest.

And then there is the market opportunity. Once the presale ends, investors will buy Bitcoin Dogs on exchanges. As history has shown, highly speculative tokens like $0DOG experience gains immediately after listing. This makes the tokens expensive while boosting the value held by presale buyers at the same time. Thus, it makes sense to buy on presale before the projected price surge. 

To buy Bitcoin Dogs while on presale, investors can visit the project’s website page.

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• Bitcoin inflows and price trends have boosted Bitcoin Dogs presale.
• Bitcoin Dogs has additional use cases in gaming, NFTs, and the metaverse.
• The Bitcoin Dogs presale concludes on March 15

Bitcoin Dogs ($0DOG) is a crypto token on demand. Since launching its presale on February 14, the token has encountered an unprecedented demand. In barely three weeks, over $6.8 million worth of tokens have been purchased. The presale frenzy has been fueled by the connection between Bitcoin Dogs and the Bitcoin blockchain. Conversely, Bitcoin (BTC) has posted strong gains, hitting a price above $65,000. Expectations are that BTC could surpass its prior record as a string of events support a bullish 2024. As investors continue to make speculations, Bitcoin Dogs has been the core beneficiary.

Bitcoin to hit a new record as inflows intensify

A new Bitcoin price could be on the cards, as the cryptocurrency approaches its record of $69,000. At the time of this publication, the largest cryptocurrency was trading at $65,200. According to Markus Thielen, the founder of 10X Research, Bitcoin could surpass its previous record price.

Thielen points to the increased inflows into Bitcoin products after the approvals of spot ETFs. The 10X Research founder says inflows into spot ETFs have outpaced the number of Bitcoins created per day. He notes the situation has widened the supply-demand imbalance to 1:10.

The supply crunch is also highlighted in reports that OTC trading desks handle large institutional clients. This has resulted in balances falling from almost 10,000 BTCs in Q2 2023 to below 2,000 BTCs.

Bitcoin Dogs: First BRC20 token benefiting from Bitcoin legacy

Bitcoin Dogs is the first-ever ICO on the Bitcoin blockchain. As the frenzy around a record BTC price grows, analysts bet that Bitcoin Dogs is best placed for success. This is noticeable from the fire presale, in which 90% of 900 million minted tokens will be offered. 

Notably, Bitcoin Dogs ride key Bitcoin’s bullish events, such as institutional adoption after the approvals of spot ETFs. The Bitcoin halving in April, which is also boosting BTC price, is attracting investors to Bitcoin Dogs.

To many, Bitcoin Dogs is an opportunity to own a stake in the legacy Bitcoin blockchain. This has positioned Bitcoin Dogs as a high-potential project and token, boosting its presale. 

Bitcoin Dogs: An utility token in NFTs, metaverse, and gaming

The drive towards Bitcoin Dogs is also informed by its massive use cases. As such, investors are exposed to the world of NFTs, gaming, and metaverse. This expands the scope of benefits previously unavailable to users of the parent Bitcoin blockchain. 

In fact, Bitcoin Dogs will be the biggest Bitcoin Ordinals NFT collection. 10,000 unique and collectible tokens will be available to the token holders. Users can curate and sell the NFTs on a decentralised market. 

$0DOG holders will also be treated to breakthrough experiences through Dogaverse. The Bitcoin Dogs Club Metaverse, features immersive interactions on the virtual world. Interactions can range from social chatter and competitions. By being dog holders by default, $0DOG holders can also participate in dog training sessions and more.

11 days to go: FOMO building as presale end date set

Investors have been buying Bitcoin Dogs to catch up with the March 15 deadline. From here, the token will be up for listing, triggering bullish movements. The presale frenzy has been cemented by the tokens bought and a growing community. 

For example, on Telegram, the project has over 21,500 members. On Twitter, Bitcoin Dogs has amassed over 122,000 followers. Bitcoin Dogs team leverages social platforms to keep the community informed and engaged. 

As the presale approaches its finish line, the price of $0DOG is also rising. This has made the token attractive to early buyers when it is lowly priced.

Investors interested in the Bitcoin Dogs presale can visit the project’s official website page.

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Key takeaways

• BTC continues to trade around $62k as it closes in on its all-time high price.

• Bitcoin Dogs’ presale will end in 12 days and has already raised over $6.3 million

Bitcoin eyes its all-time high price of $69k

The crypto market was bullish this week, adding 20% to its value in the last seven days as it raced to the $64k level. Thanks to this week’s rally, BTC is now closing in on its all-time high price of $6k

At press time, the price of Bitcoin stands at $61,911, down by 1% in the last 24 hours. If BTC continues its rally, it could set a new all-time high price in the coming days or weeks. 

The world’s leading cryptocurrency by market cap will be eyeing the next resistance level at $65k if the bulls remain in control. 

What is Bitcoin Dogs?

Bitcoin Dogs could be one of the biggest beneficiaries as BTC continues to rally towards its all-time high price. It is a unique project that is launching on the Bitcoin blockchain. 

Bitcoin Dogs will leverage the Bitcoin blockchain’s power to provide utility to its users. It is the first BRC-20 token ICO on the Bitcoin network.

The development team believe that Bitcoin Dogs will offer investors an exciting value proposition by combining the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture. 

Bitcoin Dog’s ICO is in full swing and comes barely a few weeks after the launch of spot Bitcoin ETFs in the US. The spot Bitcoin ETFs launched by BlackRock, Fidelity, and others are raking in record numbers and this has helped BTC to rally by more than 20% in the last seven days. 

In addition to that, the Bitcoin halving event is less than 50 days away and could lead to another massive rally by BTC. All these contribute to the special nature of Bitcoin Dogs’ ICO in the market. 

Bitcoin Dogs is setting a new trend by introducing its $0DOG token as BRC-20. With the right level of adoption, Bitcoin Dogs could set the trend that would allow the Bitcoin blockchain to compete with Ethereum and BNBChain in terms of ICOs. 

Bitcoin Dogs presale surpasses $6 million

The Bitcoin Dogs presale is less than a month old and has already raised more than $5 million. Thus, indicating rising interest amongst investors for this project and its token. 

The team will only mint 900 million $0DOG tokens. In addition to that, investors would be granted access to an exclusive NFT collection and an immersive gaming ecosystem reminiscent of popular titles like Axie Infinity and Tamagotchi.

The team revealed that the presale will only run for a month and is set to close in 12 days. So far, the project has raised more than $6.3 million in less than three weeks. 

While the tokens will be minted on BRC-20, investors will buy the tokens on ERC-20. They will provide a BTC wallet address and receive $0DOG tokens after paying with ERC-20 tokens. Investors can pay for the $0DOG token using ETH, USDT and USDC stablecoins.

Click here to learn more about the Bitcoin Dogs presale.

Should you invest in the Bitcoin Dogs project before the presale ends?

The Bitcoin Dogs presale is set to end in 12 days, with the token’s price steadily rising throughout this ICO. Currently, $0DOG is going for $0.0281 but will increase to $0.0312 in the next presale stage. 

The cryptocurrency market has been bullish since the start of the year and investors are already looking for new and exciting projects. With the right level of adoption, Bitcoin Dogs could be one of the projects attracting interest. 

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