The market is buzzing with anticipation for Bitcoin this year as analysts predict favorable days ahead. The bullish sentiment surrounding the historic coin is fueling welcome optimism in the crypto space. While Bitcoin is expected to regain its footing, the Algotech community is in another corner of the cryptoverse, celebrating its trending presale success.
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Algotech Presale Hot on the Market
Algotech (ALGT) has witnessed significant success in its ongoing presale. The algorithmic trading platform has maintained constant promising performance since its first introduction to the market.
Some notable feats include raising $1.1M in a private seed round and following up with $1.7M in ten days during its first presale round. The token also displayed impressive investor confidence as the total token supply for the first presale round was sold out in those ten days.
Now in its second presale round, selling at $0.08, the coin has raised an impressive $3.8M. In its next funding stage, the coin’s price is set to rise by 25%, but despite the hike, it will still remain under $1, making it one of the more affordable coins on the market at the moment.
However, with the rise in investor interest and demand for ALGT, it’s hard to say how long the coin will remain under $1.
Standard Chartered Bullish on Bitcoin
In a bold statement, the reputable global bank, Standard Chartered (STAN), has cast a vote of confidence for the continued growth of Bitcoin.
The bank initially issued a statement earlier in the year predicting that Bitcoin would hit $100K in 2025, but then they made a rebuttal and raised their price prediction for the year 2024 by 50% to $150K from $100K. For 2025, the bank forecasted in an emailed investment note that Bitcoin would be well above the $250K mark before settling around $200K.
The bank based its analysis and prediction on a comparison with the price of gold after gold exchange traded funds were introduced in the US. They cited the strong inflows into the recently launched bitcoin ETFs in the US as the primary source of their bullish predictions. The bank believes these inflows will continue to drive up the price of Bitcoin.
Geoffrey Kendrick, one of the bank’s analysts, wrote: “For 2024, given the sharper-than-expected price gains year-to-date, we now see potential for the price to reach the $150K level by year-end, up from our previous estimate of $100K.”
Bitcoin performed notably well at the beginning of the year, but its price has since witnessed a downturn, even more so with the impending halving taking place in a couple of days.
Analysts predict that the halving will be followed by an unprecedented bull run, so it remains to be seen whether the bank’s predictions will hold true.
Bet on the Bulls
It is an important trait for any trader to be capable of recognizing a profitable opportunity when they see one. Investing in promising upcoming projects is a surefire way to maximize gain for profit-seeking investors, and low-cost tokens are popular among these investors.
If traders miss the chance to buy in before a token takes off, the next best bet is to buy the dip. Bitcoin is available on Binance and other global exchange platforms.
Meanwhile, ALGT is available exclusively via presale. Visit their social media channels for more information and timely updates.
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