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Bitbot Presale Enters Final Stage As $4.3M Raise Target Approaches
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Bitbot, a new AI Telegram trading bot, has raised $3.9+ million after reaching stage 15 of its presale.
This strong momentum comes on the back of a comprehensive rebrand, including a new website and a greater focus on AI tools. And with Bitbot already raising 3X more in presale than its competition, there’s a lot for investors to be excited about.
Adjacency to the crypto-AI nexus has proven to be a boon for standout tokens during this bull run, and Bitbot will look to replicate the price action of similar projects with this deepening of its AI features such as the Gem Scanner.
Bitbot’s AI deployment appeals particularly to retail traders, a huge demographic that remains vital to the crypto market. Intelligent on-chain analysis tools give everyday traders access to institutional-grade insights, built into a Telegram interface to ensure accessibility for all.
Bitbot currently boasts a community of 100k+, with around 80k followers on X, 25k+ on Telegram, and more across other channels including Reddit and Discord.
Bitbot (BITBOT) is available to buy on the official site.
Bitbot occupies crypto’s growth sectors
AI blockchain tokens have been the stars of the 2024 bull run so far, at press time registering a $40 billion market cap, according to CoinGecko. Investment titan VanEck predicts that AI blockchain solutions will generate yearly revenue of more than $10 billion by 2030, signaling a strong expectation of growth.
Bitbot has a foot in another flourishing sector, too. Telegram trading bots have taken the market by storm since their inception in 2023, with a total of over $23 billion in trades being processed across all platforms.
The Telegram bot sector is valued, at press time, around the $1.5 billion mark, according to CoinMarketCap, and has been described as “crypto’s new cash cow.” With the current leader, BONKbot, heavily associated with the BONK token, there is even more potential for users to be onboarded due to the current trend of mainstream crypto adoption via meme coins.
Product Advisor, Andrew Jacobs, said:
“Bitbot is the perfect companion for those entering the crypto market for the first time, as well as traders who have seen it all. The proprietary AI gives users unmatched trading power in the palm of their hand, making high-level strategies accessible to everyone – and our industry-leading security makes sure investors stay safe in what can feel like a daunting environment.”
Bitbot iterates on first-generation Telegram bots in several areas, giving users a more capable product that arguably presents a stronger investment case.
The aforementioned Gem Scanner searches for undervalued tokens, allowing traders to optimize trade placement and strategy. An exclusive Alpha List delivers calls that help users find gems first, allowing them to beat the masses to the next huge opportunities.
Security is another area in which Bitbot excels: it’s the world’s first non-custodial Telegram bot, a new feature that fully protects against exploits and hacks. This is achieved using wallet solution partner KnightSafe to ensure users retain ownership of their coins until trade settlement is complete.
Anti-MEV and anti-rug pull protection round out Bitbot’s security arsenal, automatically blocking trades that show signs of fraudulent activity and preventing slippage from eating away at profits. This allows new market entrants to finally trade with peace of mind.
The BITBOT token explained
BITBOT, the token behind the trading platform, has its own set of benefits. Holders receive 50% of revenue generated from trading fees and get exclusive access to community groups where traders share investment opportunities and trading strategies.
Demand elsewhere in the Telegram bot sector has been clearly demonstrated since its birth in 2023. Banana Gun, for example, surged by 10x between October and April despite suffering a bug at launch – a problem Bitbot protects against with its Solid Proof audit and extensive security measures.
Meanwhile, BONKbot offers a “less refined” trading experience and is limited to Solana alone, yet the BONK token boasts a $1.6 billion market cap. Bitbot will operate across multiple chains with an advanced, AI-infused feature set, suggesting it has the potential to achieve even more.
After the presale, the BITBOT token will be listed on DEXs, at which point the market will decide the price of this AI token.
About Bitbot
Bitbot is a new AI Telegram trading bot that aims to put institutional-grade trading tools in the hands of retail users to enable them to trade using a variety of advanced features, including sniping and copy trading.
Audited by Solid Proof, Bitbot focuses on security and follows the motto, “Your keys, Your wallet, Your assets.” To this end, the project has partnered with Knightsafe to deliver the world’s first non-custodial telegram trading bot, mitigating counterparty risk and reinforcing this with anti-MEV and anti-rug technology.
For more information and to buy Bitbot (BITBOT), visit: Official Website | Whitepaper | Socials
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XRP price saw a couple of swing moves from the $2.85 resistance. The price is consolidating near $2.50 and might aim for more gains above the $2.65 level.
- XRP price is struggling to gain pace for a move above the $2.80 resistance zone.
- The price is now trading above $2.30 and the 100-hourly Simple Moving Average.
- There is a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might continue to accelerate if it clears the $2.72 resistance.
XRP Price Holds Gains Above $2.30
XRP price made another attempt to clear the $3.00 resistance. However, it failed to surpass $2.85 and corrected some gains unlike Bitcoin and like Ethereum. There was a move below the $2.65 and $2.50 levels.
A low was formed at $2.276 and the price is now correcting losses. There was a move above the $2.40 and $2.50 levels. The bulls pushed it back above the 50% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low.
The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $2.620 level. The first major resistance is near the $2.720 level. It is close to the 76.4% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low.
The next key resistance could be $2.850. A clear move above the $2.850 resistance might send the price toward the $2.950 resistance. Any more gains might send the price toward the $3.00 resistance or even $3.150 in the near term. The next major hurdle for the bulls might be $3.20.
Are Dips Limited?
If XRP fails to clear the $2.620 resistance zone, it could start another decline. Initial support on the downside is near the $2.50 level. The next major support is near the $2.40 level.
If there is a downside break and a close below the $2.40 level, the price might continue to decline toward the $2.30 support and the trend line. The next major support sits near the $2.050 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.5000 and $2.4000.
Major Resistance Levels – $2.6200 and $2.7200.
Cardano (ADA) whales, who have been instrumental in driving the cryptocurrency’s price by 270% in the last 30 days, have now sold a bunch of tokens. This sell-off comes ahead of this week’s token unlock, which market participants expect will cause volatility.
As of this writing, ADA trades at $1.23. Will this sell-off draw the price down further?
Cardano Key Holders Offload Some Tokens
On Monday, December 2, Cardano’s large holders’ netflow reached 63.58 million ADA, reflecting a strong buying trend among whales. The netflow metric tracks the difference between tokens bought and sold by these key players. A rising netflow indicates accumulation, while a decline indicates selling pressure.
As of now, the netflow has plunged to 7.62 million ADA, according to IntoTheBlock, suggesting that whales offloaded 55.96 million ADA — either to take profits or rebalance their portfolios. At Cardano’s current price, this sell-off amounts to a staggering $69 million.
From BeInCrypto’s observation, the recent sell-off may be tied to the upcoming token unlock on December 6.
Token unlocks, which release previously restricted tokens into circulation, often drive significant price movements by altering supply and demand dynamics.
According to Tokenomist (formerly Token Unlocks), Cardano is set to release 18.53 million ADA on that date, valued at $22.79 million. This anticipated supply shock could introduce volatility, potentially hindering the altcoin’s ability to sustain an uptrend during this period.
ADA Price Prediction: Overbought, Retracement Likely
On the daily chart, Cardano’s Bollinger Bands (BB) have widened, indicating heightened volatility. The BB also highlights whether an asset is overbought or oversold.
When the price touches the upper band, it signals an overbought condition, while contact with the lower band indicates oversold territory. Therefore, the image below confirms the thesis that ADA is overbought.
The Relative Strength Index (RSI), which measures momentum, also aligns with the bias. When the RSI reading is above 70.00, it is overbought. On the other hand, when the reading is below 30.00, it is oversold.
At press time, Cardano’s RSI stands at 82.15, firmly placing ADA in overbought territory. Given this condition, a price correction to $0.92 could be next. However, if Cardano whales resume accumulation, the trend could shift, potentially pushing the price above $1.33
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Solana started a fresh increase from the $215 zone. SOL price is rising and might aim for a move above the $240 and $250 resistance levels.
- SOL price started a fresh increase after it settled above the $222 level against the US Dollar.
- The price is now trading above $230 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $232 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could start a fresh increase if the bulls clear the $240 zone.
Solana Price Eyes Fresh Surge
Solana price formed a support base and started a fresh increase above the $220 level like Bitcoin and Ethereum. There was a decent increase above the $225 and $230 resistance levels.
There was a move above the 50% Fib retracement level of the downward move from the $246 swing high to the $215 low. Besides, there was a break above a key bearish trend line with resistance at $232 on the hourly chart of the SOL/USD pair.
Solana is now trading above $235 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $240 level or the 76.4% Fib retracement level of the downward move from the $246 swing high to the $215 low.
The next major resistance is near the $246 level. The main resistance could be $250. A successful close above the $250 resistance level could set the pace for another steady increase. The next key resistance is $265. Any more gains might send the price toward the $280 level.
Another Decline in SOL?
If SOL fails to rise above the $240 resistance, it could start another decline. Initial support on the downside is near the $230 level or the 100-hourly simple moving average. The first major support is near the $220 level.
A break below the $220 level might send the price toward the $215 zone. If there is a close below the $215 support, the price could decline toward the $200 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $230 and $220.
Major Resistance Levels – $240 and $250.
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