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Can Ravencoin sustain momentum after 5% gains?

Ravencoin surged on Friday despite a bearish crypto market The blockchain, forked from Bitcoin, is a beneficiary of the ETH merge Technical indicators are currently bearish, casting doubts on sustained gains Ravencoin RVN/USD surged 5% on Friday. At the time of writing, the token was trading for $0.03651. Although the pump is not tied to any…


  • Ravencoin surged on Friday despite a bearish crypto market

  • The blockchain, forked from Bitcoin, is a beneficiary of the ETH merge

  • Technical indicators are currently bearish, casting doubts on sustained gains

Ravencoin RVN/USD surged 5% on Friday. At the time of writing, the token was trading for $0.03651. Although the pump is not tied to any specific factor, there is a rising interest in Ravencoin among crypto miners. As a PoW blockchain, it was one of the notable gainers after Ethereum’s proof-of-stake merge.

Crypto miners opted for Ravencoin as an alternative to ETH mining. Besides, the blockchain platform has equally seen rapid expansion. This follows a step by FTX crypto exchange to list RVN perpetual features a mid-last month. The futures let investors speculate on the price of RVN.

It is of importance to note that Ravencoin was forked from bitcoin in 2018. The network aims for the issuance and transfer of new digital assets. Ravencoin is a proof-of-work consensus algorithm network. Its native token, RVN, powers decentralised applications and non-fungible tokens. From the technical outlook, RVN faces hurdles to the upside.

RVN shows some bullishness at the support zone

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Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


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Coingate

CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.


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Source: TradingView

From the daily chart above, Ravencoin collapsed from $0.0771 in mid-September, shedding off 52% of its value. Technically, Ravencoin is showing some bullishness but remains locked in a broader support zone. 

The momentum indicator, MACD, shows a clear bearish level, while the Stochastic Oscillator is at 32. The latter is slightly above the oversold zone but within the vicinity.

Bottom line

Ravencoin may not sustain the current gains due to largely bearish momentum. From the chart, the token is facing immediate resistance at $0.042. To invalidate the current sentiment, RVN must clear above the resistance level. The key indicators should also turn green. As it is, RVN is not out of the woods yet.


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Bitcoin

Spot Bitcoin ETFs Secured Inflows on Friday While GBTC Struggles to Hold 300,000 BTC

Following a sequence of five days of net outflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced modest inflows on Friday, capturing nearly 900 bitcoins from the market, totaling $59.7 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC) teeters on the brink of falling below the 300,000 mark, as it recorded a holding of 304,970.43 bitcoins as of [……
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Bitcoin

Bitwise: Bitcoin Will Have ‘a Great Next 12 Months’

Bitwise Asset Management expects bitcoin to have a great next 12 months. A Bitwise researcher has explained that the cryptocurrency will likely continue to test its “higher highs” this year and next. He considers regulatory risk to be the primary concern for bitcoin. ‘I Think We’re Just Getting Started’ Bitwise Asset Management has reaffirmed its [……
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Bitcoin

Bitbot’s presale frenzy grows as $1.1M is raised: Can $BITBOT claim a 100x gain?

Bitbot has generated FOMO due to its self-custodial features. The project runs a $100,000 airdrop with $1,000 rewards. $BITBOT carries a 100x potential amid presale frenzy and unique strengths. Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented…


bitbot crypto trading bot website homepage
  • Bitbot has generated FOMO due to its self-custodial features.
  • The project runs a $100,000 airdrop with $1,000 rewards.
  • $BITBOT carries a 100x potential amid presale frenzy and unique strengths.

Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented gains, cementing the status of Telegram bots as an unstoppable crypto phenomenon. Bitbot launches when this frenzy is still alive while guaranteeing added security advantages. This has created a frenzy for the token, with the presale raising more than $1.16 million through stage 6. Consequently, Bitbot has been labelled a 100x token amid its self-custodial features. Let’s investigate more about this token.

Bitbot generates FOMO: What is its unique value proposition?

The key to Bitbot’s popularity is intense speculation. This is the first Telegram trading bot project offering self-custodial features. But what does this mean?

Trading on Telegram trading bots has been beset with controversy. The exploits of leading projects such as Unibot and Banana Gun showed how less protected investors are. This has been caused by the fact that these projects are custodial. They hold users’ private keys and assets, exposing them to potential losses if their accounts are compromised.

With self-custodial features, Bitbot allows users complete control over their assets. Users control their private keys, meaning no one can steal their assets if the platforms are exploited. This is an advantage to users seeking greater control and peace of mind when trading on Telegram trading bots. 

Owing to the self-custodial features, Bitbot has generated a frenzy that the token could explode when listed. Similar price trends have been recorded in other Telegram trading bots launched earlier. As such, Bitbot’s superior strengths could fuel higher price movements and return more to investors.

In addition to being self-custodial, the project is attractive with its enhanced security mechanisms. The wallet is secured by KnightSafe security protocols for institutional-grade reinforcement. There are other safety enhancements, such as anti-rug features. 

The all-around protections have created an expectation that $BITBOT is a huge potential token. The frenzy is underlined by the rapid presale and token predictions, which are as high as 100x. 

Bitbot: Profitable token with up to $100K airdrops and 50% revenue shares

The number of followers on Bitbot’s socials has grown rapidly, thanks to profitable offers. An example is Twitter, which has over 114,000 followers. The attraction has been due to the profitable opportunities posted on the platforms. The notable one is the $100,000 airdrop that has attracted fans. 

The competition is open to all fans globally. Winners stand a chance to walk away with $1,000 worth of Bitbot tokens from a $100,000 prize pool.

The prelaunch offer is ongoing, with users needing to act on Bitbot to win odds. One just needs to participate in Bitbot, share about the project, subscribe to its mailing list, and more. Winners will be rewarded right before the project kicks off. 

Bitbot is also a source of long-term passive income generation. Token holders get a share of 50% of transaction fee revenue generated from the platform. Aside from enjoying seamless trading through an app, one grows their investment over time. The unique advantage over rivals makes Bitbot a very attractive trading platform. This generates value for the token, unlocking its future potential.

Can $BITBOT rise by 100x?

Telegram trading bots represent the future of trading, and statistics back this up. The sector has witnessed over $13.6 million in cumulative trading volumes. This is an advantage to the Bitbot token, debuting when a market frenzy unfolds. As such, the debut could be met with wild price movements.

Whether $BITBOT can rise 100x is speculative. However, rival tokens, which carry lesser superior features, have risen by approximately similar margins. As such, $BITBOT carries the potential to claim a 100x gain. A robust presale and speculation cement the token’s status as a potential big gainer.

To purchase $BITBOT while on presale, investors can visit the project’s website page.


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