TL;DR
-
Bitcoin crossed the $52k mark on Wednesday and could be heading towards the next resistance around the $60k level.
-
Bitcoin Dogs’ presale has already raised nearly $1 million within a few days, ushering in a new era of BRC-20 ICOs.
The cryptocurrency market has been bullish since the start of the week, with Bitcoin and other major cryptocurrencies rallying higher. Investors continue to eye new projects, and Bitcoin Dogs is one of the projects that could take advantage of Bitcoin’s current price rally.
Bitcoin eyes the $60k resistance level following its recent rally
The cryptocurrency market has been bullish since the start of the week, with Bitcoin’s price up by more than 10% in the last four days. It reached a yearly high of $52,623, its highest level since 2021.
At press time, the price of Bitcoin stands at $51,836, up by more than 5% in the last 24 hours. Thanks to the recent rally, Bitcoin’s total market cap has now crossed the $1 trillion mark for the first time in more than two years.
If Bitcoin can maintain its current momentum, it could reach the next resistance level at $60k in the coming days or weeks.
What is Bitcoin Dogs?
Bitcoin has been rallying over the last few days, and the BTC ecosystem remains the centre of attention in the crypto market. Projects launching on the Bitcoin network could record massive growth in the coming months and years. One such project is Bitcoin Dogs.
Bitcoin Dogs is a unique project leveraging the power of the Bitcoin network. It is set to become the first BRC-20 token ICO. The project will offer investors an exciting value proposition as it will combine the elements of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture. Thus, ensuring that investors and users have an immersive experience when they engage with the Bitcoin Dogs project.
Bitcoin Dogs’ launch comes just a few weeks after the launch of spot Bitcoin ETFs in the United States. The Bitcoin halving is also two months away, an exciting event that happens every four years.
Previously, most presales in the crypto market have been ERC-20 and BNB tokens. Bitcoin Dogs is setting a new trend by introducing $0DOG, its native token, as a novel investment opportunity on the Bitcoin blockchain.
Bitcoin Dogs presale approaches $1m
The Bitcoin Dogs presale is growing rapidly and has already raised more than $900k. The presale will usher in a new era of BRC-20 ICOs within the Bitcoin ecosystem.
The project’s tokenomics reveals that there would be 900 million tokens minted. Investors would also have access to an exclusive NFT collection and an immersive gaming ecosystem reminiscent of popular titles like Axie Infinity and Tamagotchi.
The Bitcoin Dogs presale will run for a month and will leverage the rarity and novelty of BRC-20 to attract investors.
The team explained that although the tokens will be minted on BRC-20, investors will purchase the tokens on ERC-20, with investors providing a BTC wallet address. The address provided will receive $0DOG tokens after paying with ERC-20 tokens. You can pay for the $0DOG token using ETH, USDT and USDC stablecoins.
Click here to learn more about the Bitcoin Dogs presale.
Should you invest in the Bitcoin Dogs project?
$0DOG could be one of the best-performing gems in the upcoming Bull Run. Bitcoin is rallying at the moment and projects related to BTC could record massive gains in the coming months and years.
2024 is expected to be the start of a new Bull Run and Bitcoin is looking to recover its all-time high price of $69k in the coming weeks or months.
With the right adoption level, Bitcoin-related altcoins like Bitcoin Dogs could experience a huge pump in price. In addition to the Bitcoin halving, the US Federal Reserve is expected to cut interest rates over the coming months, pushing more investors into the crypto market.
Overall, Bitcoin Dogs could be a winner in the current market conditions and its presale is the opportunity for investors to buy the $0DOG tokens at discount prices.
The post Bitcoin surpasses the $52k psychological level: Will it rally towards $60k soon? appeared first on CoinJournal.
