With the BitBot token sale thriving, the cryptocurrency bull market has more room to run.

Cryptocurrencies continued their remarkable rise this year, outperforming traditional assets such as stocks and commodities. Bitcoin is up 57% in 2024, beating the tech-heavy Nasdaq 100 index, which is up just 7.25%.

Cryptocurrency is thriving

Cryptocurrencies, in particular, beat gold while trading at all-time highs. And now most analysts predict that iShares Bitcoin Trust (IBIT) will have more assets than the SPDR Gold ETF (GLD), which holds over $56 billion in assets. IBIT added about $13 billion in about two months.

Token sales are also going well. As we wrote recently, bitcoin dog It raised more than $9 million in the last 30 days, making it the fastest-growing token sale of the year. bitbotAnother token, , is expected to raise over $1 million.

The trend in the cryptocurrency market is expected to continue in the future. First of all, demand for Bitcoin from institutional investors is increasing. Respected billionaire Bill Ackman tweeted that he might consider investing in Bitcoin.

scenario:

Rising Bitcoin prices lead to increased mining, which leads to increased energy use, which leads to higher energy costs, which leads to higher inflation, which causes the dollar to fall, which drives demand for Bitcoin, which then leads to increased mining, which drives energy demand, and the cycle continues.

Bitcoin… https://t.co/a5LzX69R7q

— Bill Ackman (@BillAckman) March 9, 2024

Another evidence that institutions are doing well is that most Bitcoin ETFs are seeing strong inflows. The only fund that performed poorly was Grayscale Bitcoin Trust (GBTC), which suffered significant losses due to high fees.

Meanwhile, the Bitcoin halving is expected to occur in April, which will lead to more supply issues. Other coins such as Bitcoin Cash, Ethereum Classic, and Bitcoin SV are also scheduled to have halvings soon.

Another catalyst for Bitcoin and other cryptocurrencies is the possibility that the Securities and Exchange Commission (SEC) will approve a spot Ethereum ETF this year. This ETF will likely see more institutional demand at a time when Ethereum supply is dwindling.

BitBot token sale is going well

All of these factors combined with a potential easing cycle from the Federal Reserve and other central banks are likely to result in more money flowing into BitBot.

BitBot, as you can see here: blank, This is a cryptocurrency project that aims to become a major player in the Telegram bot market.

The developers aim to provide a Telegram bot that sends accurate signals to traders around the world.

This is a highly competitive market, and the number of these bots is expected to continue to increase in the long term.

The advantage of BitBot is that it is a non-custodial trading bot. This is more secure than traditional trading bots. There is also a revenue sharing feature where $BITBOT holders can receive payouts.

Another feature is that these holders participate in the governance process. Like Uniswap, these holders can vote on key issues in the ecosystem such as fees and direction.

So, with a strong community behind it, there is a chance that the BitBot token will continue to perform well when it is finally released. Recently we have seen many new tokens soaring, such as Solama and MAGA. You can purchase Bit Bot tokens. here.