Monero price defies gravity before BitBot token launch
Monero price continues to defy gravity as it rises to its highest level since January 30. It has grown more than 80% from its lows this year, giving it a market value of more than $3.2 billion. The focus among cryptocurrencies is now shifting to the upcoming Federal Reserve interest rate decision and continued ETF earnings.
Monero is defying gravity.
Cryptocurrencies were rocked on Monday as attention focused on the Fed's upcoming decision. Bitcoin stabilized below the critical resistance point at $70,000. Other big cryptocurrencies such as Ether and Solana remained in a tight range.
Many altcoins, on the other hand, have gone through a big sell-off as concerns about the Federal Reserve continue. The sell-off came after the US posted strong jobs numbers on Friday, raising the possibility that the Fed will keep rates on hold at this week's meeting.
Despite no major ecosystem news, Monero, the world's largest privacy coin, had the best performance. In particular, the rally continued as Monero formed a golden cross pattern, which occurs when the 50-day and 200-day moving averages cross each other.
In most cases, this is one of the most popular brands in the market. After all, the token rose above the key resistance level at $180, the highest swing in December last year.
So there is a possibility that the bull run will continue in the coming days. If this happens, it will likely advance to the next level at $200. The stop loss of this trade will be at $170.
BitBot is seeing strong traction.
It is against this background that the BitBot token is gaining more attention in the market just a few weeks after completing its highly successful token sale. The developers have raised over $4.3 million from investors.
The BitBot token sale was very successful because the network is promising. According to the website, the developers are planning to create the biggest AI-powered Telegram trading bot.
This is worth noting as it is one of the largest social media companies on the scale of Telegram with over 900 million users.
Telegram bot industry is booming globally in demand for business solutions. According to recent data, these bots handle more than $164 million worth of tokens every day.
As such, there are signs that it will increase its focus on AI and security. Unlike other Telegram bots, BitBot will be a non-custodial platform, which means the developers will not be able to access users' funds.
BitBot developers are currently working on the app. They are also preparing to start the claims process. This is a situation that people who bought tokens can ask when they start trading. Learn more about BitBot here.
