Bitcoin dropped below $26k in sudden crash: Will traders suffer more losses

2023-8-18 12:49

Key takeaways

Bitcoin dropped below the $26k level on Thursday, with traders losing nearly $1 billion in the process.

Chancer’s stage two presale is now closing in on the $1.5 million mark.

The cryptocurrency market has been extremely bearish since the start of the week. The prices of most cryptocurrencies are down by more than 5% over the last seven days.

Despite the bearish sentiment, Chancer’s presale is set to hit another benchmark as stage two is approaching the $1.5 million mark.

Bitcoin drops to the $25k zone

Bitcoin, the world’s leading cryptocurrency by market cap, has been extremely bearish over the past 24 hours. BTC lost nearly 10% of its value and dropped to the $25,300 level late on Thursday.

The bearish trend saw long traders lose nearly $1 billion. However, the market is starting to recover, with Bitcoin and others setting new support levels. At press time, the price of Bitcoin stands at $26,543. 

What does this mean for Chancer?

The bearish performance could see some investors take advantage of the discount price to invest in more cryptocurrency projects. Investors could be looking to purchase more bitcoins and other cryptocurrencies ahead of a likely bullish cycle.

As more investors look for projects to invest in, Chancer could be one of the projects they might consider. 

Chancer is one of the exciting and new projects currently in the cryptocurrency space. With stage two presale set to hit an important milestone, it is clear Chancer is gathering momentum amongst retail investors. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

Chancer wants to decentralise the betting industry and is leveraging blockchain technology to achieve its objectives. 

With Chancer, there are no restrictions to betting opportunities for users. This implies that users can bet on a wide range of events, beyond traditional sports and casino bets. 

The Chancer presale is in its second stage and has raised nearly $1.5 million of the $2 million required. In the second presale, CHANCER is selling for $0.011 USDT but will be increased to $0.012 in the third stage. 

Funds raised from the multiple presale events will be geared towards building Chancer’s decentralised P2P betting platform. 

The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

According to their whitepaper, Chancer users will have access to a wide range of features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

Furthermore, with Chancer, users will no longer have to deal with the problems associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

An important feature of Chancer is that users can bet on various activities. Users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.012 in the third presale stage

Chancer’s second presale stage will be completed soon and the team will move to the next phase. In this current stage, the CHANCER token is going for $0.011 USDT

However, the team will increase the token price to $0.012 in the third presale round. Funds generated from the presale will be used to develop Chancer’s suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

The CHANCER token will power numerous activities within the ecosystem. Token holders can create and invest in markets within the Chancer ecosystem. Furthermore, token holders can also create, participate in, and profit from their very own predictive markets. 

The CHANCER token can be purchased using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The recent bearish trend in the market could see more investors troop into the market as they look for buying opportunities. 

Investors could be looking to invest in projects in their early stages and Chancer could be one of the projects to consider due to its unique native. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond. The adoption of the Chancer platform could result in a rally by its native CHANCER token. 

The post Bitcoin dropped below $26k in sudden crash: Will traders suffer more losses appeared first on CoinJournal.

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traders bitcoin below dropped 26k process stage

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