Saturday, 20 April 2024

Crypto News

What’s the outlook for Bitbot?

What’s the outlook for Bitbot?

  • BTC price dropped sharply after reaching new ATH above $73k
  • Analysts say Bitcoin remains bullish; a bounce could help Bitbot price.
  • Bitbot is currently in presale but is creating waves as the world’s first non-custodial Telegram trading bot.

Bitcoin (BTC) price saw a significant decline this week, with the value of the flagship cryptocurrency dropping below $67,000. 

Despite this, bullish sentiment around the BTC price remains. Could the potential rebound help Bitbot (BITBOT), a new project that has the trading space highly anticipating its launch? 

Bitbot: Telegram bot pioneering non-custodial crypto trading

The crypto trading bot market on Telegram is getting bigger as the trading community looks to tap into the most advanced, AI enabled features and tools.

While it’s down to about $1.3 billion by market cap following recent declines, analysts have pointed to potential breakout growth for Telegram bots as crypto’s bull cycle strengthens. PAAL AI, Unibot and Banana Gun are currently some of the most popular trading bots in the market.

But Bitbot, the world’s first non-custodial Telegram trading bot, is gunning for dominance. Not only does it pack all the institutional-grade trading tools, it brings these to retail traders via a platform that puts the security of users’ assets first.

The incidents that had Unibot and Banana Gun users impacted in 2023 have helped spotlight Bitbot’s non-custodial security solution.

The project has teamed up with top digital assets self-custody provider KnightSafe to pioneer MPC custody for Telegram bot users. This capability to trade with the top tools while retaining full control of your assets’ private keys is coming to the space via Bitbot.

BTC price dropped sharply, but are bulls poised to retest $70k?

Bitcoin outpaced global assets in the recent months as it skyrocketed to a new all-time high near $74k earlier this week. According to CoinGecko data, Bitcoin notched its peak of $73,737.94 on March 14, 2024.

However, the cryptocurrency’s price declined 10% from the new ATH as BTC price dropped to lows of $64,866 on March 17. 

Bulls are now eyeing a rebound to the pyschological $70k area. But as bears continue to threaten, buyers may need to turn the $66k-$65k zone into a key support area to prevent a bearish flip to the $60k level.

If prices bounce higher from current levels though,…

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