Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Crypto market is doing exceptionally well since the start of this year with the leader Bitcoin already about to hit the $60,000 level.
But a bunch of crypto bulls foresee further upside in the coming months on the back of several near-term tailwinds for cryptocurrencies including Bitbot and Bonkbot.
Tailwinds that may help cryptocurrencies in 2024
These include, first of all, the recently approved Spot Bitcoin ETFs which continue to drive institutional capital into the crypto market – and a similar Ethereum denominated exchange-traded fund is expected soon as well.
On top of it, the U.S. Federal Reserve will likely announce its first rate cut in June; which would likely be significant considering risk-on assets tend to gain traction once the central bank moves to lower interest rates.
Lastly, the total supply of Bitcoin is slated to halve in April or May of 2024. Historically, the halving event delivers a significant boost to BTC and, by extension, the rest of the crypto space as well which this year include Bitbot and Bonkbot.
Let’s dive deeper into the two and see which one is more lucrative for investment in 2024.
How are Bitbot and Bonkbot different?
Both Bitbot and Bonkbot are Telegram trading bots aimed at helping investors maximise their profits out of the financial markets including cryptocurrencies in 2024.
However, there’s one fundamental difference between the two that makes one of them more exciting than the other.
Unlike Bitbot, Bonkbot is a custodial trading bot which essentially means that users need to trust the platform with their cryptocurrencies or digital assets at large if they pick Bonkbot. That makes Bonkbot relatively less secure than its peer Bitbot.
In fact, there have been reports of delayed transactions on Reddit. Some users even accused Bonkbot of removing their funds altogether.
What such issues warrant is “caution” – and that’s what market experts are recommending for those interested in investing in Bonkbot. While they still see “modest” upside in that Telegram trading bot in 2024, they do expect its potential to somewhat be overshadowed by the related risks.
Bitbot has a security-first approach
As mentioned earlier, Bitbot looks like an attractive investment for 2024 primarily because it’s a non-custodial trading bot.
Its commitment to security enables you to retain full control over your assets – an approach that seems to be sitting well with investors considering its ongoing presale has already raised nearly $0.8 million in a matter of weeks.
Note that strong demand typically signals future potential of any given investment and Bitbot apparently checks that box ever so conveniently.
The native Bitbot token is currently going for $0.0116 only which means you won’t have to put a lot of your capital on line to secure a sizable position in this Telegram trading bot either. Plus, it will likely list on a notable crypto exchange after the presale which may result in further price appreciation that you’d be able to benefit from if you invested in it today.
It is also worth mentioning here that holding Bitbot coin offers you access to a bunch of exclusive features as well. These include gem scanner, copy trading, and eligibility to capitalise on the platform’s revenue sharing and referral programmes.
Interested in finding out more about Bitbot and its native crypto token? Click here to visit the project website.
The post Bitbot vs Bonkbot: which one is a better investment for 2024? appeared first on Invezz
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.