SEC Hints At Ethereum ETFs; American Investors Show Interest in Bitbot Presale
After Bitcoin ETFs became hot property in 2023 following approval from the US Securities and Exchange Commission (SEC), rumors persist in 2024 that Ethereum ETFs could be the next evolutionary move in the crypto market, potentially opening the way for billions of dollars of new investment.
Bitbot continues to stand out as a project that could capitalize on this wave of new investment, having already raised $1.3m in its fast-selling crypto presale. Introducing the world’s first non-custodial trading bot, Bitbot is quickly capturing the imagination of crypto investors from the United States.
The SEC has strongly hinted that Ethereum ETFs could follow in the footsteps of Bitcoin ETFs and be approved shortly. Blockworks reports that 23rd May is the critical date, marking the 240-day deadline for the SEC to publicize their verdict on proposals from Van Eck and Art/21 Shares.
Unlocking Ethereum ETFs would be another hugely bullish step for crypto markets, already riding the wave of new liquidity from Bitcoin ETFs and the imminent Bitcoin halving event. With heavyweights like BlackRock and Grayscale awaiting decisions on their Ethereum ETF application, the green light from the SEC could ignite another crypto rally that Bitbot and the BITBOT token can jump aboard all the way to the moon.
The Telegram trading bot sector is now worth over $1 billion, offering Bitbot and its crypto presale investors a significant market to target. Over 1 million users have used these bots, with an overall lifetime trading volume of over $12 billion. Analysts expect these numbers to grow massively in 2024 - trading volume has already grown over $6.5 billion this year. All this presents the BITBOT token with serious growth potential.
To fully capitalize on this potential, Bitbot’s non-custodial security protocol, in partnership with Knightsafe, aims to learn lessons from competitors such as Banana Gun and Unibot, which both suffered recent security breaches. Employing a “not your keys, not your crypto” ethos, Bitbot users only need to relinquish control of their funds once transactions are complete. Had this framework been employed by Unibot, over $500k would have remained safe in users’ wallets.
In addition, Bitbot protects against malicious MEV bots and rug pull strategies. The latter being a mitigation tactic that would’ve saved Banana Gun from security issues last year.
Bitbot also offers users a rich suite of outstanding features to maximize their trading journey and profitability. For instance, the platform’s sniping feature allows users to buy low and sell high by setting predetermined parameters for maximum profits. In addition, the Gem Scanner tool seeks out undervalued gems and crypto presales, and the copy trading feature allows users of all abilities to copy the most successful trades to help them on their trading journey.
This close proximity to the AI industry sets the BITBOT token up to benefit from the current bullishness surrounding the AI space - valued at over $40 billion at the time of writing.
Bitbot also offers its token holders superb income opportunities. In addition to the revenue-sharing program, which sees BITBOT holders grab a 50% share of all trading fees, the platform’s referral scheme allows anyone who refers new users to Bitbot to enjoy 15% of the new user’s transaction fees. These two initiatives present BITBOT holders with scope for both short and long-term gains.
Analysts are already busily assessing the likely performance of Bitbot once its crypto presale concludes and the BITBOT token is unleashed on public exchanges. To illustrate its potential, one can look at the outstanding recent performance of Banana Gun and Unibot, despite their recent security breaches.
Banana Gun dropped 90% in value upon allegations of an attempted rug pull that was later attributed to a bug in the contract. However, its rebound has been impressive, with the token now trading at around $32 at the time of writing, a more than 3x rise from its September 2023 launch price of $9.93. In addition, Banana Gun has exploded to a market cap of around $85 million.
Similarly, after launching at $17.56 in June 2023, Unibot has shrugged off the hack that saw over $560k of user funds lost to post a value of around $30 at the time of writing, an increase of over 70%. With Banana Gun’s market cap at around $30 million, the potential open to Bitbot’s crypto presale investors is clear.
What’s more, those who invest in the Bitbot presale today, with the token priced at $0.0134, will see a token price appreciation of 49.25% before the presale even ends.
Then consider the overall bullish sentiment across crypto markets right now, with predictions of a crypto market cap of $7.5 trillion by 2025. This sentiment would be further boosted if Ethereum ETFs got the go-ahead from the SEC. Also, considering the imminent Bitcoin halving event and rumored interest rate cuts from the Fed, these ingredients could easily see Bitbot take flight and 50x from its early-stage price this year.
While investors worldwide look likely to profit from any Ethereum ETF approval by the SEC thanks to the knock-on effect on the broader crypto market, American investors are already aiming to capitalize by flocking to the Bitbot crypto presale in their thousands.
Currently in stage 7 and priced at the knockdown value of $0.0134, now is the time for American investors to grab their BITBOT tokens while stocks last. With each stage selling out at breakneck speed, any delay could result in diminished returns once Bitbot hits public exchanges and likely goes into orbit.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.