The price of Bitcoin (BTC) has taken another large hit in the last couple of days and things are continuing to look quite bearish with some commentators predicting that Bitcoin could see a price correction all the back down to the $22k mark.
While things are bleak toward the top of the market it should be noted there is one project that actually predicted this fall back to earth for Bitcoin. Launchpad XYZ (LPX) is a new Web 3.0 platform that is still going through presale but is already making its mark on the market.
If you visit the site now you can see some of the best predictions they have already made. Among those was Bitcoin’s $28k short. For anyone who doesn’t know when an investor takes a short position, it means they sell off their asset in the hopes of buying it back at a lower price. With Bitcoin now showing bearish trends those that sold at $28k can wait to see if it goes as low as $22k before buying back in.
Before we look at what might have caused this price for crypto’s number one currency let’s first look at the site that predicted it before most.
“Meme coin investors are shifting gears! 🚀 With the recent price dump of $PEPE and $BITCOIN, the focus is now on high-utility projects. And the momentum continues! Launchpad XYZ just crossed a remarkable milestone, surpassing $1.5 million! Exciting times ahead! 😎 #crypto” pic.twitter.com/7JdQRk4dDC
— Take Meme Coin (@TakeMemeCoin) September 1, 2023
Launchpad XYZ- Just 1 day left to get the 19% presale bonus
There are many different reasons why the best investors always have an eye on the presale market. It is always good to keep an eye on upcoming projects, plus you can get tokens at a fraction of the price they will soon become if they are successful. What’s best though is some of the more generous projects will offer presale bonuses.
That is exactly what Launchpad XYZ (LPX) is doing. The trading platform is offering a staggeringly generous 19% presale bonus for anyone who signs up but you will have to hurry as there are less than 24 hours left to take advantage of this generous offer.
Considering how well their predictions have been going already it really seems like a no-brainer. Those who have already signed up and invested in Launchpad XYZ have been able to join the telegram signal group where they are getting the best trading information the market can offer.
🎉 We’ve reached 1,000 members in our Telegram Signals Group! 🎉
To mark this milestone, one lucky member will win a special prize. Get in before we limit access to the group!
— Launchpad.xyz (@launchpadlpx) August 31, 2023
Launchpad XYZ is a hugely ambitious Web 3.0 trading platform concept that hopes to onboard the next 10 million users onto the technology. They recognize that the technology is still very new and although it is intertwined with the crypto world it doesn’t mean that everyone understands all the little details of an ever-developing technology.
Their platform aims to simply things for their users. Beginners can become experts thanks to its simple interface and there will also be something for all levels of expertise. Not only will you get the best investment recommendations but you can also find tips like the best Web 3.0 games to invest in.
Should we be panicking about Bitcoin’s price?
Below is the price performance for Bitcoin (BTC) over the last 30 days. As we can see things have gone from bad to worse as bearish conditions set in. We can also see the moment that Launchpad XYZ signals predicted the short on the flagship currency.
So why have things gone so poorly for Bitcoin? Many expected the opposite to happen once the Grayscale news dropped so the trend is a little worrying. The Grayscale case was crypto’s second big win against the SEC in the last couple of months following the path of Ripple but the market did not react favorably this time.
The case Grayscale was making was they wished for the SEC to look over their ongoing efforts to change their Bitcoin trust into an ETF. The judge agreed the initial rejection of the application was unfair. This would lead most people to think the crypto market would see a recovery spike, especially with BlackRock and other big asset managers awaiting approval.
Instead, the SEC has pushed back their decision dates for these ETF applications and Bitcoin’s price has suffered. We believe ETF approval would far outweigh what is happening now but we can’t deny the good feeling around the process is wavering. For now, Bitcoin is a stay-away. Thank you Launchpad XYZ!
So while Bitcoin struggles to hold on to any sort of leverage there is a token going through presale that managed to advise its holder to get out while it was still at $28k. It seems like it’s a sign that this is the project to get behind. There is plenty of time to still invest in the presale but only one day left to get the tasty 19% presale bonus.