2024-3-9 17:51 |
Bitcoin has failed to sustainably break the $69,000 level so far but Tom Lee is convinced that it’s on the cards for the near term.
Lee expects Bitcoin to more than double in a year or soIn fact, the head of research of Fundstrat Global expects BTC to hit $150,000 level over the next 12 to 18 months.
Lee is super bullish on the world’s largest cryptocurrency by market cap because it has “already faced the peak of regulatory backlash”.
His view on the pioneer of the crypto market may be a positive for the recently launched Bitcoin Dogs as well considering it’s the first ever ICO (initial coin offering) on the Bitcoin blockchain.
The native token of Bitcoin Dogs goes by $0DOG that is currently in presale. But before you choose to invest in it to play continued strength in BTC – let’s find out more about the platform and the tailwinds that could help it appreciate in price moving forward.
Bitcoin Dogs may benefit from continued inflow into BTCFundstrat’s Tom Lee expects Bitcoin to surge much higher from higher because “we’ve got more visible demand from the Spot ETFs” the Securities & Exchange Commission approved in January.
Note that BlackRock is “seeing almost $800 million in inflows”, as per his recent interview with CNBC. The investment firm’s Bitcoin fund, in fact, hit $10 billion in just two months versus the first Gold ETF that took almost two years.
It is also worth mentioning here that Binance and Coinbase are now left with about 5,000 Bitcoin only between its price at writing and the $80,000 level. Such a massive supply shock suggests the upside in Bitcoin perhaps is no longer a matter of “if” but of “when”.
And all of it, by extension, may benefit Bitcoin Dogs and its $0DOG coin as well considering it’s the world’s first BRC-20 token. You can find out more about the project on this link.
$0DOG could benefit as supply and demand dynamics push BTC higherAnother factor that could play in favour of BTC and the Bitcoin Dogs is rate cuts.
Fed chair Jerome Powell reiterated in his testimony to the Senate this week that the central bank is not in a rush to lower interest rates just yet. He did, however, signal that they’re expected sometime this year.
Rate cuts may be a meaningful benefit for the $0DOG coin because they tend to make risk-on assets like cryptocurrencies more attractive as an investment.
Lee is constructive on Bitcoin because it’s not just the demand that’s serving as a tailwind for the world’s largest cryptocurrency. The supply end of it is also favourable with the halving event scheduled for next month.
As both supply and demand continue to push the price of BTC up, it’s conceivable that the related strength will reflect in Bitcoin Dogs as well. Click here to find out ways to invest in $0DOG today.
Bitcoin Dogs ($0DOG) presale has been outrageously successfulWhat makes Bitcoin Dogs particularly an attractive investment is the fact that the presale of its $0DOG coin is absolutely on fire.
The native token has raised close to $9 million in just three weeks that spells outrageous success. More importantly, $0DOG is going to end the presale on March 8th so you’re left with only a week to invest in it at presale price.
As a holder of Bitcoin Dogs, you’ll also gain access to an exclusive collection of NFTs. You’ll be eligible to participate in a play-to-earn ecosystem and the upcoming staking pools as well.
Interested in finding out more about Bitcoin Dogs and its $0DOG token? Click here to visit the website now.
The post Bitcoin Dogs ($0DOG) presale is approaching $9 million: should you invest? appeared first on Invezz
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