It’s looking very rosy for everything Bitcoin-related at the moment. On one hand, we have the crypto market’s number one token having a super week that has seen it hit its highest price in September. While on the other we have a new Bitcoin-inspired project – Bitcoin BSC (BTCBSC), closing in on the end of its presale and raising over $300,000 in the last 24 hours.
The Bitcoin price recovery was very badly needed as in the last two months we saw its price plummet from over $30k all the way back down to the $25k mark. This of course had a knock-on effect to the market as a whole and bearish conditions set in. 2023 has shown the resilience of the crypto market however and yet again it looks like it is recovering.
Bitcoin BSC looks set to be one of the success stories of 2023 as its presale is coming to an end soon. Just as we hit the $1 million left to be raised mark it seems FOMO has set in as in just 24 hours another $300k worth of BTCBSC has been purchased. Let’s take a look at why investors all seem to want a piece of this project.
Bitcoin BSC- Time running out to get this token at its lowest price
It seems like investors are feeling the rush to get involved with Bitcoin BSC (BTCBSC) before time runs out. The project has plenty of great reasons why people might be interested but we are sure this late rush is to get involved at the lowest available price.
The people behind the project have cleverly kept the price of Bitcoin BSC the same for the whole presale. This is because they are offering investors the chance to feel what it would have been like to invest in Bitcoin all the way back in 2011 before most of us even knew what crypto was. That price is $0.99 and boy is it long gone now. We think it will also be quick to go for Bitcoin BSC once listings begin as hype builds.
As we mentioned this likely isn’t the only reason that investors are likely flocking to invest in this new Bitcoin-inspired project. One of the challenges these new ‘inspiration’ coins face is that they have become so popular that they are now their own subsection of the market. Meaning they now have to stand out from their competitors.
Bitcoin BSC has made the clever choices to adapt what works from other projects but also has one key USP that sets them out from the crowd. That USP is that the coin is built on the Binance Smart Chain. When compared to other Bitcoin-inspired tokens the BSC has lower gas fees meaning transactions on the chain will be cheaper and faster giving it a significant edge.
The other great thing about the BSC is that it shares a code with the Ethereum network. This means that the BSC gets faster and cheaper transactions but doesn’t sacrifice when it comes to security or smart contract capabilities.
We mentioned above that Bitcoin BSc has adapted some of the better properties employed by its rivals. One of these is certainly staking. Anyone who keeps a close eye on presale markets will see how staking has become a heavily used and crucially successful system employed by new projects over the last few months.
The standout example that Bitcoin BSC will be hoping to replicate is from BTC20. Another Bitcoin-inspired project, they employed the clever tactic of allowing investors to stake their tokens during the presale. Over 2/3rds did and what this does is give an extra layer of security as investors are way less likely to dump tokens they have staked once listings begin.
This turned out to be true and BtC20 pumped instead once their listings started. With Bitcoin BSC over 1.6 million tokens have already been staked which is roughly 50% so things are looking good. Incredibly that amounts roughly to an APY of 160%. This is incredible value considering so many tokens have already been staked.
Last but not least is the benefit to the environment a proof-of-stake token brings when compared to its muse. Bitcoin mining has become very difficult lately and regulation may be closing in regarding how much energy it uses. It will always be number one likely but for a new up-and-coming project like Bitcoin BSC being more environmentally friendly gives it a brighter future.
Let’s now take a quick look at Bitcoin and the growth it has seen in the last while.
Is Bitcoin about to pump again?
The 30-day price movement chart for Bitcoin (BTC) will be a beautiful work of art for BTC investors who were really having a rough September. It is now back-to-back days that cryptos number one currency has hit a monthly high and things are looking up again.
Some analysts are worried that something nefarious may be going on and price manipulation is going on but there is also evidence in Bitcoin’s past that a price recovery was on the cards. When Bitcoin dips below its 200-day EMA it tends to bounce back as witnessed in March and June of this year so this uptick is explainable.
Either way, it is certainly an interesting time for the market’s flagship token. We will be watching with interest over the coming days as its movement toward the end of the week could tell a lot about where it will head as we head into Q4.
Conclusion
So, Bitcoin has had an interesting week. An unusually volatile day at the time of writing too. While the pump is nice we are a little suspicious about what is going on so are perfectly happy looking for an alternative like Bitcoin BSC. Its presale seems to be speeding toward its conclusion and it looks like that great value at $0.99 won’t be around for much longer.
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