Bitcoin struggles below $64k ahead of the halving: Will it plunge lower?
Key takeaways
BTC continues to struggle below the $64k level ahead of the Bitcoin halving event in two days.
Bitbot’s presale is now above $2.5 million.
Bitcoin stays below $64k ahead of halving
Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists. At press time, the price of Bitcoin stands at $63,030, up by less than 1% in the last 24 hours.
The poor performance comes ahead of the Bitcoin halving event in two days. The Bitcoin halving will see Bitcoin mining rewards slash by 50% from 6.25 BTC per block to 3.125 BTC.
Historically, the halving event leads to a massive surge in Bitcoin’s price. However, it remains unclear how Bitcoin will perform in the near term.
What is Bitbot?
While Bitcoin and other major altcoins continue to underperform, some presales are generating record funding from investors. Bitbot is one of the projects that is raising capital from investors to address certain pain points in the market.
Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user.
The project describes its product as a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. Bitbot provides traders with an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users.
It is set to provide users with high-end features to help traders grow their trading portfolios. The right level of adoption could see Bitbot become one of the most widely used tools by cryptocurrency traders.
Bitbot’s tech could improve trading chances
To improve the trading chances of its users, Bitbot will be introducing a wide range of tech innovations. Per their whitepaper. Bitbot will leverage the Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.
The team is currently developing anti-MEV and anti-rug solutions to help users protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.
Some of the funds generated from the presale will also be used to integrate Ultra-flexible wallet management fuelled by non-custodial API technology.
The copy-trading feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.
Bitbot’s presale hits $2.5m
The Bitbot presale is now in its tenth stage and is now moving swiftly. So far, the project has raised $2,506,930 of the required $2,518,000 in this current stage.
Bitbot continues to raise funds from investors despite the poor market conditions. The $BITBOT token is going for $0.0155 in the current presale round and will increase to $0.0163 once the eleventh round commences.
The whitepaper indicated that the Bitbot development team will hold 20% of the total token supply and will use it to fund ongoing development. Furthermore, 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.
Should you buy the Bitbot token now?
While the crypto market has been underperforming in recent weeks, Bitbot’s presale continues to attract more investors. The project seeks to take advantage of the growing trading volume in the market to attract more users.
Bitbot is looking to gain massive adoption in the market by offering unique technologies that would allow traders to improve their trading activities. BITBOT could become one of the biggest winners in this cycle with the right level of adoption. As trading volume in the market increases, BITBOT could also see a surge in adoption if it rolls out its features and solutions.
