Key takeaways
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BTC reached a new all-time high of $70,000 last Friday and could retarget that level after a pullback.
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Bitbot’s presale has officially surpassed $900,000 as phase five nears completion.
Bitcoin could soon push past $70k
Bitcoin, the world’s largest cryptocurrency by market capitalization, has experienced an eventful month. Last Friday BTC reached a fresh all-time high of $70,000 before retracing to the $67,000 region.
At the time of writing the Bitcoin price sits at $68,730, down by less than 1% over the past 24 hours. If the recovery continues, BTC could target the $70,000 area again within hours or days.
What is Bitbot?
As Bitcoin, Ether and other major cryptocurrencies rally, trading volume across the market has increased, driving greater trader activity. For active traders, access to efficient tools is essential to improve trading outcomes.
Bitbot is one project building tools designed to support traders in the crypto space.
Bitbot is a Web3 project focused on bringing distinct value to crypto traders. It operates as a Telegram-based trading bot that aims to put control directly in users’ hands.
According to its whitepaper, Bitbot is a self-custodial trading bot that enables users to trade through their own cold wallets via Telegram. The product offers an innovative approach to trading by leveraging Telegram’s role as a popular social platform among crypto users.
Bitbot includes advanced features intended to help traders grow their portfolios. Several tools are designed with institutional-grade capabilities in mind, offering access to world-class trading functionality.
With sufficient adoption, Bitbot could become a widely used tool among cryptocurrency traders.
Bitbot aims to boost trader capabilities with technology
Bitbot plans to introduce technological innovations to benefit traders. The project will use Knightsafe to provide a self-custody solution designed to mitigate typical risks associated with trading on Telegram.
Part of the funds raised in the presale will be allocated to developing anti-MEV and anti-front-running solutions to help users protect their assets. These measures aim to shield traders from malicious bots that inflate transaction costs or target and block fraudulent projects.
Bitbot also offers highly flexible wallet management powered by non-custodial API technology. For profitability and ease of use, Bitbot will provide a copy-trading feature that allows users to replicate trades made by the highest-performing wallets based on on-chain activity.
Bitbot presale surpasses $900k
Bitbot’s presale is currently in its fifth phase and progressing rapidly. So far the project has raised $943,475 of the $1,106,000 target for this phase.
This milestone shows Bitbot is attracting investor attention within the crypto community. The $BITBOT token is priced at $0.0122 during the current presale round and is set to increase to $0.0128 when the sixth round begins.
Project tokenomics indicate the Bitbot development team will hold 20% of the total token supply to finance ongoing development. In addition, 14% is allocated for marketing and centralized exchange listings, while 3% is reserved for exchange liquidity provisioning.
Click here to learn more about Bitbot’s upcoming presale.
Could Bitbot achieve widespread adoption?
The cryptocurrency market is currently in an upcycle with more than $2.5 trillion in circulating value, which has driven higher trading volumes as new traders enter the market.
Given this environment, tools like Bitbot stand to gain traction as trading activity increases. With the right level of adoption and successful rollout of its features and protections, BITBOT could become a notable winner in the market and see significant user growth as trading volumes continue to rise.