Bitcoin Hits $56k, Highest Level Since November 2021: Are We Seeing $60k Soon?
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BTC rallied nearly 10% on Monday to reach the $56k level for the first time since November 2021.
Bitcoin Dogs pre-sale has officially closed on its $5 million winning streak.
After reaching $56k, Bitcoin has seen the $60k resistance level.
The cryptocurrency market started the week strong, with Bitcoin adding nearly 10% to its value on Monday. Thanks to the rally, BTC reached its highest level since November 2021 at 56,740.
At press time, the price of Bitcoin stands at $55,850, up more than 8% in the last 24 hours. Thanks to the recent rally, Bitcoin's market cap has passed the $1.1 trillion mark for the first time in more than two years.
If the bulls take hold, the world's leading cryptocurrency will see the next resistance level at $60k in market value.
What is Bitcoin Dogs?
With Bitcoin rallying, it's no surprise that other Bitcoin-related projects are also experiencing positive performance. One such project is Bitcoin Dogs.
Bitcoin Dogs is a unique project that is being launched on the Bitcoin network and seeks to use the power of the blockchain to provide services to its users. It is the first BRC-20 token ICO on the Bitcoin network.
According to their white paper, Bitcoin Dogs seeks to combine the fundamental characteristics of cryptocurrencies, non-fungible tokens (NFTs), decentralized finance (DeFi) and the Web3 culture, to deliver exciting value to investors. With this, investors and users will have a very immersive experience when engaging with the Bitcoin Dogs project.
The Bitcoin Dogs ICO comes a few weeks after the launch of spot Bitcoin ETFs in the US. Bitcoin ETFs launched by BlackRock, Fidelity and others are growing in record numbers as more investors buy into the Bitcoin dream. On Monday, the trading volume of the Bitcoin spot ETF reached a new high of $2.4 billion.
Also, the Bitcoin halving is only two months away and is an exciting event that happens every four years. All these contribute to the unique nature of the Bitcoin Dogs ICO in the market.
Usually, most of the presales in the crypto market are ERC-20 and BNB tokens. However, Bitcoin Dogs is setting a new trend on the Bitcoin blockchain by introducing $0DOG, its native token, to investors such as the novel BRC-20 ICO.
The pre-sale of Bitcoin dogs is close to 5 million dollars
The Bitcoin Dogs presale has raised over $4.8 million just three weeks after its launch. Therefore, it shows that the interest of investors for this project and the project is increasing.
According to the white paper, $900 million of 0DOG tokens have been deposited. Investors will also have access to an exclusive collection of NFTs and an immersive gaming ecosystem reminiscent of popular titles such as Axie Infinity and Tamagotchi.
The group said that the pre-sale will only last for one month and is using the rarity and novelty of the BRC-20 to attract investors.
When the tokens are issued on BRC-20, investors buy the tokens on ERC-20. After paying with ERC-20 tokens, you provide a BTC wallet address and receive $0DOG tokens. You can pay for $0DOG token using ETH, USDT and USDC stablecoins.
Click here to learn more about the Bitcoin Dogs presale.
Should you invest in the Bitcoin Dogs project as BTC rises?
The cryptocurrency market has been very bullish since the beginning of the year and BTC is leading the way. Investors are looking for new and interesting projects and Bitcoin Dogs can be one of the projects that attract interest.
Bitcoin is currently gathering momentum and BTC-related projects are likely to record huge profits in the coming months and years. With the right adoption rate, $0DOG could be one of the gems of this bull run.
The post Bitcoin Hits 56k, Highest Level Since November 2021: Are We Seeing $60k Soon? First appeared on CoinJournal.
