Key takeaways

BTC reached a new all-time high of $70k on Friday and could be targeting that level again after retracing.

Bitbot’s presale has officially crossed the $900k mark as stage five nears completion.

Bitcoin, the world’s leading cryptocurrency by market cap, is having an interesting month so far. On Friday, BTC reached a new all-time high of $70k before retracing to the $67k region.

At press time, the price of Bitcoin stands at $68,730, down by less than 1% in the last 24 hours. If the recovery continues, BTC could be targeting the $70k region over the next few hours or days. 

With Bitcoin, Ether and other major cryptocurrencies rallying higher, trading volume in the market continues to increase. This means that traders have become more active in the cryptocurrency market.

For traders, leveraging tools that would help improve their trading activities is crucial. Bitbot is one of the projects that is developing tools to help traders in the cryptocurrency 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. 

Per the whitepaper, Bitbot is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. The product provides an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users. 

Bitbot will come with high-end features to help traders grow their trading portfolios. Some of the tool’s features are institutional grade, granting them access to world-class trading functions.

With the right level of adoption, Bitbot could become one of the most widely used tools by cryptocurrency traders. 

Bitbot plans to bring technological innovations that would benefit traders. The project will use Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

Furthermore, some of the funds raised from the presale will go towards 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.

Bitbot also has ultra-flexible wallet management fuelled by non-custodial API technology. In terms of profitability, Bitbot will provide users with a copy trading feature. This feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.

The Bitbot presale is now in its fifth stage and is now moving swiftly. So far, the project has raised $943,475 of the required $1,106,000 in this current stage. 

This latest milestone indicates that Bitbot is attracting attention from investors within the cryptocurrency space. The $BITBOT token is going for $0.0122 in the current presale round and will increase to $0.0128 once the sixth round commences. 

The project’s tokenomics show that the 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. 

The cryptocurrency market is currently in a bullish cycle and has more than $2.5 trillion currently in circulation. This means that the trading volume in the market has increased as more traders enter the market.

With this reality, tools like Bitbot will gain massive adoption in the market thanks to the rising trading volume. With the right level of adoption, BITBOT could become one of the biggest winners in the market. As trading volume in the market increases, BITBOT could also see a surge in adoption if it rolls out its features and solutions. 

The post Bitcoin eyes the $70k level again as Bitbot’s presale officially crosses $900k appeared first on CoinJournal.

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