The crypto market looks like it is starting to recover after a decent last 7 days. As is always the case, Bitcoin (BTC) acts as a proverbial canary in the mine for the market as a whole. If it is performing well there is a trickle-down effect and the rest of the market is normally green too.
Bitcoin had had a poor September up until now but on the 18th, it hit a monthly high as it briefly broke $27k before losing a little in value to close out the day. There are still some reasons to be a little cautious when it comes to Bitcoin but luckily there is a Bitcoin alternative that is currently taking the market by storm and it just happens to be a Bitcoin-inspired token too.
Bitcoin BSC (BTCBSC) is the latest in a strong 2023 trend so let’s get into what makes it the perfect alternative to invest in right now.
Bitcoin BSC- Only $1 million left to raise before the end of this presale
The trend we are talking about above is the so-called ‘inspiration’ coins and it has been one of the more profitable strategies that new projects have employed. The idea is you take a strong traditional giant (like Bitcoin of course!) and keep some of its best features but add your own touch to it. The benefit is of course after years of market development new projects can see what will be helpful additions.
Bitcoin BSC (BTCBSC) as we mentioned is a Bitcoin-inspired coin. It is clear that the market already has taken to it as it is just about to hit the $3 million raised mark at the time of writing. That means there is less than $1 million left until they meet their target and judging by the pace of the presale that means investors need to act now if they want to get involved before it pumps.
Being a Bitcoin-inspired project has an obvious advantage since Bitcoin is the market's number one token but it also has one significant disadvantage too. Bitcoin is by far the most popular choice for these types of projects so it almost turns into a subsection of the market. Luckily Bitcoin BSC shares the best qualities of any of its rivals while also having one significant USP.
Bitcoin BSC is built on the Binance Smart Chain which has some key features that help it stand out from the crowd. Firstly, it uses the same code as Ethereum so they do not lose out on any security features or smart contract capabilities. However, the BSC also has lower gas fees meaning transactions are both cheaper and faster. This puts Bitcoin BSC head and shoulders above other Bitcoin-inspired projects.
One of the reasons we would encourage interested investors to get involved ASAP is the low price of BTCBSC. For the duration of the presale, the price has been just $0.99. The reason for this? They want to give investors the chance to invest in Bitcoin at the price right before it took off all the way back in 2011. After this of course the price of BTC never came close to that low again so this is a golden opportunity.
Another trend the Bitcoin BSC inventors have been clever to capitalize on is staking. A bit of a part player when you look at the market as a whole has now become integral to new project's success in the last few months. Another Bitcoin-inspired project BTC20 (BTC20) saw great success with their staking system early on.
By allowing staking during presale they saw up to 2/3rds of their purchased tokens staked before the listing even began. This worked great as it ensured the project wouldn’t collapse due to the added security staking brings and gave it a greater chance to pump from the off, which it did.
Already nearly 1.5 million BTCBSC tokens have been staked so we are excited to see what that will do to its price once the listings begin soon. Of course, as a proof-of-stake token, Bitcoin BSC is also better for the environment than its idol. Bitcoin has come under fire from environmental advocates due to the amount of energy it takes to mine but no such process is needed for BTCBSC which will stand to it in the future.
So, we are sure by now any readers are thoroughly convinced by the potential of Bitcoin BSC so let’s get back and have a look at the original.
Bitcoin- Reasons for Optimism and Caution
Above is the 7-day performance chart for Bitcoin (BTC). It obviously makes for much nicer reading for investors after a rough start to the month. The small dip at the end is likely just a price correction but the next week will tell us a lot.
Bitcoin is now starting to bounce back from the 200 Exponential Moving Average (EPA). Generally, when BTC falls below the moving average it makes a strong comeback. March and June of this year showed positive reactions in this regard so bulls will be hopeful that this pump is going to have legs.
On the other side of things, some are drawing very similar comparisons to the pump surrounding the spot ETF grayscale news. This was when the market looked like it was about to bounce back after the Greyscale win vs. the SEC but it turned out to be a false dawn of sorts.
So, in regards to Bitcoin, we think this might be one to sit on the sidelines and let it develop a little more before making a decision to get involved. Luckily, we have Bitcoin BSC which is the perfect alternative at the moment. However, potential investors will need to act fast if they want to get it at $0.99. The presale is likely to sell out very soon and the coin looks likely to pump once listings begin.