The price of Bitcoin has risen to $70,000, while Ethereum is now considered a high-end purchase at above $3,500.
It has been reported that Hong Kong is likely to approve the first Bitcoin ETFs by early next week, making it a significant location for the cryptocurrency market. Meanwhile, the presale of Bitbot (BITBOT), a new cryptocurrency, has reached $2.3 million due to growing investor interest.
This news has boosted Bitcoin’s potential to reach a new all-time high, as Hong Kong’s decision could lead to a surge in demand for ETFs. The positive impact on Bitcoin’s price is also expected to positively affect other altcoins, with Bitbot being one of the most talked-about new tokens.
There are also talks of Hong Kong approving the first official spot for Bitcoin ETFs before Monday, according to reports. This could be a significant development for the market, as the Securities and Futures Commission is said to have received applications from major Chinese funds for spot Bitcoin ETFs.
While the decision has not yet been officially announced, the market has already shown signs of positivity. Last January, when the first Bitcoin ETFs were approved in the US by the Securities and Exchange Commission, the prices of BTC and other cryptocurrencies saw a significant rise.
The recent news of Hong Kong’s potential approval has caused BTC to trade above $70,900, with Ethereum also experiencing a slight increase to $3,520. If the ETFs attract significant inflows, as seen with previous ETFs like BlackRock’s IBIT, it could lead to a rally in BTC, ETH, and other coins in the coming weeks.
Additionally, new tokens that are able to tap into market fundamentals and have a strong market presence are expected to attract investors in the future.
One such token is Bitbot, the first non-custodial cryptocurrency trading bot on Telegram. While most Telegram trading bots are custodial solutions, Bitbot takes a different approach, giving users full control over their wallets and private keys. This focus on security, in partnership with Knightsafe, sets Bitbot apart from other trading apps.
Bitbot’s AI capabilities also make it a top choice for traders, with access to advanced institutional-grade trading tools such as gem scanners, copy trading, and automated execution without compromising security and convenience.
The presale of Bitbot’s native token, BITBOT, is currently ongoing, with benefits such as revenue sharing, trading discounts, and airdrops for early bird investors. The presale has already reached $2.3 million, with five stages left before the market debut of tokens. This could be a great opportunity for investors, especially considering the potential for Bitcoin and Ethereum to enter parabolic modes.
To learn more about Bitbot, visit their website.