BTC eyes bounce to $70k after declines: What’s the outlook for Bitbot?

• BTC value dropped sharply after reaching new ATH above $73k
• Analysts say Bitcoin stays bullish; a bounce might assist Bitbot value.
• Bitbot is at the moment in presale however is creating waves because the world’s first non-custodial Telegram buying and selling bot.

Bitcoin (BTC) value noticed a major decline this week, with the worth of the flagship cryptocurrency dropping under $67,000. 

Regardless of this, bullish sentiment across the BTC value stays. Might the potential rebound assist Bitbot (BITBOT), a brand new venture that has the buying and selling area extremely anticipating its launch? 

Bitbot: Telegram bot pioneering non-custodial crypto buying and selling

The crypto buying and selling bot market on Telegram is getting larger because the buying and selling neighborhood seems to be to faucet into essentially the most superior, AI enabled options and instruments.

Whereas it’s all the way down to about $1.3 billion by market cap following current declines, analysts have pointed to potential breakout progress for Telegram bots as crypto’s bull cycle strengthens. PAAL AI, Unibot and Banana Gun are at the moment a few of the hottest buying and selling bots out there.

However Bitbot, the world’s first non-custodial Telegram buying and selling bot, is gunning for dominance. Not solely does it pack all of the institutional-grade buying and selling instruments, it brings these to retail merchants by way of a platform that places the safety of customers’ belongings first.

The incidents that had Unibot and Banana Gun customers impacted in 2023 have helped highlight Bitbot’s non-custodial safety resolution.

The venture has teamed up with prime digital belongings self-custody supplier KnightSafe to pioneer MPC custody for Telegram bot customers. This functionality to commerce with the highest instruments whereas retaining full management of your belongings’ non-public keys is coming to the area by way of Bitbot.

BTC value dropped sharply, however are bulls poised to retest $70k?

Bitcoin outpaced international belongings within the current months because it skyrocketed to a brand new all-time excessive close to $74k earlier this week. In keeping with CoinGecko knowledge, Bitcoin notched its peak of $73,737.94 on March 14, 2024.

Nonetheless, the cryptocurrency’s value declined 10% from the brand new ATH as BTC value dropped to lows of $64,866 on March 17. 

Bulls are actually eyeing a rebound to the pyschological $70k space. However as bears proceed to threaten, consumers might have to show the $66k-$65k zone right into a key help space to forestall a bearish flip to the $60k degree.

If costs bounce increased from present ranges although, a retest of the $70k mark might trace at a brand new leg up. This outlook is at the moment helped by the Worry & Greed Index, which stays elevated at 79.

Aggressive accumulation within the BTC market might intensify in coming weeks because the Bitcoin halving approaches. The spot BTC ETFs market within the US can be prone to proceed heating up, significantly as extra asset funding suppliers and advisors add Bitcoin ETFs to merchandise supplied to shoppers.

Present market circumstances might thus be a chance to place. Many traders are conscious of this dynamic and are eyeing prime gems prone to outpace friends in 2024 and past.

Bitbot value prediction

As Bitbot seems to be to launch its ground-breaking bot to the general public, crypto merchants eager to journey the underlying energy of the BITBOT token have aggressively allotted to its presale. Entry to all bot options in addition to the distinctive revenue-sharing mechanism stands out for customers.

Given its prime safety focus and the projections for the crypto buying and selling market, analysts have pointed to Bitbot as a possible 100x token in 2024.

Bitcoin’s doubtless bull market flip to new highs within the 12 months additionally provides to the constructive outlook for BITBOT. The token’s upcoming launch on buying and selling exchanges can be a key issue. This latter side will comply with BITBOT’s presale conclusion.

Presently, Bitbot has raised over $1 million in stage 5 of the presale, with BITBOT tokens priced at $0.0122. 

By the top of stage 15, the ultimate ICO spherical, the token’s value can have risen to $0.02. Submit-presale demand might simply push costs increased.

To be taught extra about Bitbot, go to the official web site.