Bitcoin hits $56k, its highest level since November 2021: Are we seeing $60k soon?

Key takeaways

  • BTC rallied by practically 10% on Monday to achieve the $56k level for the primary time since November 2021.

  • Bitcoin Canines’ presale is formally closing in on the $5 million milestone.

Bitcoin eyes the $60k resistance level after hitting $56k

The cryptocurrency market started the week bullishly, with Bitcoin including practically 10% to its worth on Monday. Because of its rally, BTC reached $56,740, its highest level since November 2021. 

At press time, the value of Bitcoin stands at $55,850, up by greater than 8% within the final 24 hours. Because of the latest rally, Bitcoin’s market cap has now crossed the $1.1 trillion mark for the primary time in over two years.

The world’s main cryptocurrency by market cap shall be eyeing the subsequent resistance level at $60k if the bulls stay in management. 

What’s Bitcoin Canines?

With Bitcoin rallying, it isn’t shocking that different Bitcoin-related tasks are additionally experiencing optimistic performances. One such mission is Bitcoin Dogs

Bitcoin Canines is a novel mission that’s launching on the Bitcoin community and is looking for to leverage the blockchain’s energy to offer utility to its customers. It’s the first BRC-20 token ICO on the Bitcoin community.

Based on their whitepaper, Bitcoin Canines seeks to supply buyers an thrilling worth proposition by combining the essential options of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 tradition. With this, buyers and customers will take pleasure in an immersive expertise after they interact with the Bitcoin Canines mission.

Bitcoin Canines’ ICO comes barely a couple of weeks after the launch of spot Bitcoin ETFs within the US. The spot Bitcoin ETFs launched by BlackRock, Constancy, and others are raking in file numbers as extra buyers purchase into the Bitcoin dream. On Monday, Bitcoin spot ETF buying and selling quantity reached a brand new top of $2.4 billion. 

Moreover, the Bitcoin halving is barely two months away and is an thrilling occasion that occurs each 4 years. All these contribute to the particular nature of Bitcoin Canines’ ICO available in the market. 

Normally, most presales within the crypto market have been ERC-20 and BNB tokens. Nevertheless, Bitcoin Canines is setting a brand new development by introducing $0DOG, its native token, as a novel BRC-20 ICO for buyers on the Bitcoin blockchain. 

Bitcoin Canines presale approaches $5m

The Bitcoin Dogs presale has already raised greater than $4.8 million roughly three weeks after it was launched. Thus, indicating rising curiosity amongst buyers for this mission and its token. 

Per the whitepaper, there can be 900 million $0DOG tokens minted. Buyers would even have entry to an unique NFT assortment and an immersive gaming ecosystem paying homage to common titles like Axie Infinity and Tamagotchi.

The staff revealed that the presale will solely run for a month and is already leveraging the rarity and novelty of BRC-20 to draw buyers.

Whereas the tokens shall be minted on BRC-20, buyers will purchase the tokens on ERC-20. They may present a BTC pockets deal with and obtain $0DOG tokens after paying with ERC-20 tokens. You’ll be able to pay for the $0DOG token utilizing ETH, USDT and USDC stablecoins.

Click here to study extra in regards to the Bitcoin Canines presale.

Do you have to put money into the Bitcoin Canines mission as BTC rallies larger?

The cryptocurrency market has been bullish since the beginning of the 12 months and BTC is taking the lead. Buyers are already on the lookout for new and thrilling tasks and Bitcoin Dogs might be one of many tasks that’s attracting curiosity. 

Bitcoin is rallying for the time being and tasks associated to BTC might file huge beneficial properties within the coming months and years. With the best level of adoption, $0DOG might develop into one of many gems of this Bull Run. 

The submit Bitcoin hits $56k, its highest level since November 2021: Are we seeing $60k quickly? appeared first on CoinJournal.

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