Swissblock analysts predict a $76k Bitcoin price target as Bitcoin Dogs presale ends in eight days
Key takeaways
Bitcoin set a new all-time high of $69,170 earlier this week and market experts expect it to rally higher.
Bitcoin Dogs has raised more than $8 million so far and its presale will close in eight days.
Bitcoin sets a new all-time high, targets $76k
The cryptocurrency market has been extremely bullish this week, with Bitcoin setting a new all-time high price on Tuesday. BTC traded at $69,170 on Tuesday, setting a new all-time high for the first time since November 2021. BTC flash crashed to the $62k level after reaching a new all-time high on Tuesday but is slowly recovering.
At press time, the price of Bitcoin stands at $65,864.60, up by more than 3% in the last 24 hours. Thanks to the recent rally, Bitcoin’s market cap has now crossed the $1.2 trillion mark for the first time in over two years.
Despite setting a new all-time high, Swissblock analysts are confident that BTC’s quick break back above the $62,000 level marked the start of a fresh uptrend targeting the $76,000 price level.
What is Bitcoin Dogs?
Bitcoin Dogs is one of the projects attracting attention within the Bitcoin ecosystem. It is a unique project as it is the first BRC-20 ICO on the Blockchain network.
According to the development team, Bitcoin Dogs will offer investors an exciting value proposition by combining the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture. This combination will enable users to enjoy an immersive experience when they engage with the Bitcoin Dogs project.
The Bitcoin Dogs ICO began three weeks ago and has already raised over $8 million. Its launch came a few weeks after spot Bitcoin ETFs in the US launched. The spot Bitcoin ETFs launched by BlackRock, Fidelity, and others are raking in record numbers as more investors buy into the Bitcoin dream.
In addition to that, the Bitcoin halving is only 46 days away, and it is an exciting event that could see BTC’s price soar higher in the near term. All these contribute to the special nature of Bitcoin Dogs’ ICO in the market.
Bitcoin Dogs is setting a trend by becoming the first BRC-20 ICO on the Bitcoin blockchain. Its native $0DOG will power the Bitcoin Dogs ecosystem.
Bitcoin Dogs presale surpasses $8m
The Bitcoin Dogs presale has already raised more than $8 million roughly three weeks after it was launched. The $8.13 million raised so far indicates rising interest amongst investors for this project and its token.
In their whitepaper, the Bitcoin Dogs team said there would only be 900 million $0DOG tokens. In addition to acquiring the tokens, investors would have access to an exclusive NFT collection and an immersive gaming ecosystem.
The presale will last for a month and is set to end in eight days. The team is already taking advantage of the rarity and novelty of BRC-20 to attract investors.
$0DOG tokens would be minted on the Bitcoin blockchain but investors will buy them on ERC-20. This is due to the popularity of ERC-20 tokens. Investors will provide a BTC wallet address and receive $0DOG tokens after paying with ERC-20 tokens. Investors can pay for the $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 sets a new all-time high?
Bitcoin has set a new all-time high and investors are paying more attention to Bitcoin-related projects. Bitcoin Dogs is the first ICO on the Bitcoin blockchain and is already attracting interest from investors.
With the right level of adoption combined with the ongoing bullish cycle, $0DOG could become one of the biggest winners in the coming months and years.
