2023 has been an excellent year for Bitcoin, as it doubled its value since the beginning of the year. However, broader market and financial conditions have stopped its growth, making it impossible for BTC to reach $50,000 by the end of the year. Experienced traders know that, so they diversified their investments into high-potential platforms such as Bitcoin, BSC, etc. So, let's see what's happening with Bitcoin and why the new version - Bitcoin BSC is a better investment option in 2023.
Could The Next Bitcoin Halving Result in a Bull Run?
Bitcoin uses the Proof-of-Work mechanism to allow users to earn tokens using so-called "mining rigs." The method was hugely popular among crypto platforms in the past, but due to massive energy consumption and other issues, most established cryptos adopted the Proof-of-Stake mechanism instead.
Bitcoin is one of the rare cryptos still being mined, and in April 2024, the platform will go through another halving process. In other words, the difficulty of mining BTC tokens will increase by 50%, which should help push the token's prices higher. This will be the fourth time Bitcoin is going through the process, and if we look back on previous price movements after the halving process, Bitcoin could enter a bull run, resulting in significant price gains.
The three previous halvings happened in 2012, 2016, and 2020, resulting in triple-digit price rallies followed by new all-time highs 12 to 18 months after the events. That was always followed by downtrends that would keep the crypto in a bearish market for up to 16 months until the next halving event.
If we look at Bitcoin's year-to-date prices, it gained over 56% in 2023 as the entire crypto market recovers from the worst year on record. However, Bitcoin is facing a few significant challenges that could slow its growth or even push the prices down despite halving in Q1 of 2024. Bitcoin's future prices largely depend on the amount of M2 money supply rates.
Previous halvings increased M2 money supply growth by up to 6%, which could be impossible in the current state of markets. The money supply is positive in 2023 but well below 6%, which could prevent Bitcoin from a major bull run in the next year.
Bitcoin BSC is the Best Alternative to BTC
The original Bitcoin faces several issues that will likely slow its growth and potentially result in losses. That's why so many investors are looking for high-growth potential altcoins in their earliest stages, as that would result in the highest gains after the platforms go live. 2023 introduced dozens of new cryptos that resulted in profits of over 2,500%. The latest investment option gaining traction is an improved version of Bitcoin built on the BNB Smart Chain called Bitcoin BSC.
Why Is Bitcoin BSC A Good Investment Option?
As mentioned above, Bitcoin BSC is built entirely on the BNB Smart Chain. The network uses the same code as Ethereum, so it offers the same high-end security and smart contract capabilities as the world's 2nd largest crypto network. Moreover, BNB Smart Chain offers lower gas fees, faster transaction speeds, and more affordable overall than Ethereum.
The native token $BTCBSC is a BEP-20 token, which means it's easily accessible through regular wallets, including Trust Wallet and MetaMask, making transferring tokens to and from crypto exchanges simple and fast.
Unlike the original Bitcoin network that uses the highly inefficient Proof-of-Work mechanism to reward users with BTC tokens, Bitcoin BSC uses the Proof-of-Stake mechanism. Therefore, it's primarily a staking platform that allows users to set up a passive income. Their rewards depend on the number of staked $BTCBSC tokens. The more you stake - the higher the rewards. Other than that, Bitcoin BSC has excellent tokenomics copied directly from the original platform, so let's see how that works.
Bitcoin BSC Tokenomics and Rewards
Of the 21 million $BTCBSC tokens, only 6.125 million are available in presale for $0.99 per token. The presale price and the number of tokens available during the event mirrors the original Bitcoin presale in 2011. The remaining 14.875 million tokens will stay locked and be given out through staking rewards over the next 120 years. Out of the 6.125 million tokens available during the presale, 2% will be pre-mined to set up liquidity pools. The platform facilitates long-term participation and motivates the community to hold on to their tokens, ensuring long-term growth and success.
Bitcoin BSC Token Presale Event
The official $BTCBSC token presale is underway and going exceptionally well. The platform raised close to $2 million in a matter of days and is now around 50% of reaching its soft cap of $3.96. You can get tokens by exchanging ETH, BNB, or USDT after you connect your wallet. If you purchase any $BTCBSC tokens, you can claim them days before the first listing. However, if you use ETH to buy the tokens, remember that you'll have to cover Ethereum and the BNB network gas fees.
Bitcoin is having a tough year, and despite regaining some ground, the macroeconomic elements worldwide have slowed its growth, frequently resulting in negative price changes and small bull runs. BTC tokens are not expected to grow beyond $35,000 by the end of the year, so they won't be enough to help you multiply your investments. However, if you invest in Bitcoin BSC during the presale, you will have a chance to enjoy some massive gains after the platform goes live. So, visit the official site and don't miss your chance to become a part of this amazing crypto community on their way to the moon!