Tuesday, 3 October 2023

Crypto News

Will traders suffer more losses

Will traders suffer more losses

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…

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