Crypto bullish momentum fades as BitBot demand escalates

2024-4-7 00:04

The cryptocurrency bull run has faded recently as many investors take profits and wait for the next catalyst. Bitcoin price has retreated from an all-time high of over $73,000 to $67,000. Similarly, Ethereum token has plunged from over $4,000 to $3,320.

As a result, the total market cap of all digital coins has dropped from almost $3 trillion to $2.6 trillion. Despite these challenges, BitBot has continued its bullish momentum as its token sale jumped to over $2 million.

Why crypto bull run has faded

There are two main reasons why the crypto bull run has faded in the past few weeks. First, there are signs that the much-anticipated rate cut by the Federal Reserve will not happen any time soon. This view was supported by Friday’s strong job numbers.

According to the Bureau of Labor Statistics (BLS), the American economy added over 303k jobs in March, higher than the median estimate of 212k. The economy has added jobs for 36 straight months, the longest winning streak in years.

The unemployment rate dropped to 3.8% while the average hourly earnings rose by 4.1%, down from 4.3% in the previous month. These numbers came a few days after the ISM said that the manufacturing PMI increased in March, the first time since 2022.

There are also signs that inflation slowdown has slowed in the past few months. The headline Consumer Price Index (CPI) stood at 3.1 in February while the core CPI remained at 3.8%. The core CPI is almost double the Fed target of 2.0%.

Therefore, Bitcoin and other cryptocurrencies have dropped because most investors expect that the Fed will not cut rates this year. Other analysts expect at least one cut, down from three or four when the year started. This also explains why stocks have tumbled this week.

BitBot token sale continues

Meanwhile, the BitBot token sale has continued this week as the developers raised over $2 million, meaning that there is strong demand. Its token sale has now moved to its stage 9.

For starters, BitBot is a company that is seeking to disrupt the financial and trading industry. The developers are building Telegram bots that will send signals to thousands of customers.

To be clear: Telegram bots are not new. It is a big industry with thousands of companies offering the service. A careful look at these platforms show that most of them are scams.

BitBot aims to change this by creating a genuinely honest trading bot powered by the blockchain technology. It will also be a decentralized bot, where token holders will make decisions about the network.

Token holders will also take part in revenue sharing, get exclusive access to its products, and the ability to mingle with the community and trading experts.

Therefore, unlike meme coins like MEME, Book of Meme, Bonk, and Samoyedcoin which have no utility, BitBot will have important use. This utility could help to stabilize its price even when there is a new crypto winter.

Still, there is no uncertainty that the BitBot token price will rise after being listed by major exchanges. As a result, it is always important to use risk management strategies to prevent substantial losses. You can buy the BitBot token here.

The post Crypto bullish momentum fades as BitBot demand escalates appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61376.71 (-0.02%)
Объем 24H $24.183b
Изменеия 24h: -1.52 %, 7d: 6.10 %
Cегодня L: $60884.44 - H: $61728.04
Капитализация $1208.866b Rank 1
Цена в час новости $ 69433.56 (-11.6%)

bitcoin 160 all-time price retreated high token

bitcoin 160 → Результатов: 126


Фото:

Bitcoin, Ethereum, альткоины — Обзор криптовалют — 16/08/2019

Снижение на рынке ускорилось, в результате чего показатель капитализации со среды снизился на 7,1%, достигнув значения $261 млрд. Отмечается рост волатильности и объема торгов. Наш индикатор BC 10 Index снизился на 7%, опустившись до значения 160.

2019-8-16 13:25


Фото:

Bitcoin, Ethereum, альткоины — Обзор криптовалют — 24/07/2019

За последние два дня криптовалютный рынок потерял порядка 7,9% своей капитализации. Сейчас показатель находится в районе $267 млрд. Торги проходят на невысоких объемах при низкой волатильности.   Наш индикатор BC 10 Index потерял 7,1% , опустившись до значения 163 пункта.

2019-7-24 12:49


Bitcoin is Dying in This G20 Giant Because of its Suffocating Government

  It is quite evident by now that the government of India doesn’t like bitcoin in particular and cryptocurrencies in general. Regulators in the country have officially clamped down on bitcoin and other cryptocurrencies, with a draft legislation making it clear that holding, buying or selling cryptocurrencies in the country is a crime.

2019-7-23 16:39


Bitcoin Isn't Banned in India, Confirms Minister; That’s Just Half the Picture

  Bitcoin enthusiasts in India have a reason to rejoice – the country’s government hasn’t banned cryptocurrencies, yet. Responding to a question in the Indian Parliament about the status of cryptocurrencies such as bitcoin in India, minister of state for finance Anurag Thakur responded in the negative, according to a report by Inc42.

2019-7-22 14:47


Bitcoin Isn’t Banned in India, Confirms Minister; That’s Just Half the Picture

  Bitcoin enthusiasts in India have a reason to rejoice – the country’s government hasn’t banned cryptocurrencies, yet. Responding to a question in the Indian Parliament about the status of cryptocurrencies such as bitcoin in India, minister of state for finance Anurag Thakur responded in the negative, according to a report by Inc42.

2019-7-21 14:47


Американский конгрессмен Патрик Макгенри: Нет таких сил, чтобы уничтожить биткоин

Американский конгрессмен Патрик Макгенри считает, что биткоин продолжит своё существование независимо от воли политических элит. В ходе интервью на канале CNBC в эту среду собеседник спросил Макгенри, позволят ли регуляторы и политики существовать криптовалютам.

2019-7-18 20:52