Bitcoin made history last week as it successfully jumped to an all-time high of over $70,000. This record capped a strong record since the coin was trading at less than $1 15 years ago. Its market cap surged to over $1.36 trillion. Other cryptocurrencies like BitBot and Ethereum Classic (ETC) have also done well recently.
Bitcoin price prediction
Bitcoin price has done well over the years as it outperformed most financial assets. The current surge is mostly because of the rising demand among institutional investors as evidenced by the rising ETF inflows.
These inflows have led to more Bitcoin demand at a time when supply growth is expected to drop because of the halving event. Halving will lead to a higher mining difficulty that will reduce the daily amount of coins that are produced to 450.
On the daily chart, we see that Bitcoin has constantly remained above all moving averages, which is a bullish sign. It also sits slightly below the psychological point at $70,000. Oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have also risen, pointing to ongoing momentum.
Therefore, the outlook for Bitcoin is extremely bullish and could surge to over $75,000 or even $80,000 this week.
BitBot price forecast
BitBot is one of the most upcoming cryptocurrencies in the industry. Currently in its pre-sale, the developers have raised over $932k from investors who are looking for the next big thing in the crypto industry.
BitBot is a blockchain project that aims to transform the trading industry for the better. As more people rely on bots for trading, BitBot hopes to provide accurate robots that are non-custodial.
Its bots will be developed by a team of experienced developers who have been in the industry for decades. In addition to the non-custodial nature, BitBot will have additional features that will make it a better platform.
For example, according to its white paper, BitBot will have a revenue-sharing model that will reward $BITBOT holders. These holders will also have exclusive access to its platform and take advantage of its governance process.
You can buy the BitBot token here. However, like all tokens, it is worth noting that there are risks involved. This means that any buyer should only invest funds that they are comfortable losing and use the best risk-management strategies.