London, UK, March 11, 2024, Chainwire
Bitcoin made history and hit a new all-time high of $71,000, significantly increasing the global crypto market capitalization, which is now nearing the $2.7 trillion mark.
Riding the current Bitcoin wave, the First time presale on the Bitcoin networkBitcoin Dogs, is now 5 days away from closing on March 15, with over $9.7 million in funds raised since its recent debut on February 14.
With experts suggesting evidence that a bull run has started in 2023, investors are optimistic about the cryptocurrency market. Bitcoin ETF approval in January, halving in April, talk of ETH ETF approval later this year, and rumored Fed rate cuts form an optimal wave of optimism – and the Bitcoin Dogs team is hoping that a first of its kind coins like 0DOG are smartly poised to ride this wave as 2024 progresses.
0DOG is available for purchase on the Bitcoin Dogs Website.
BTC sets the stage for the launch of Bitcoin Dogs
2024 is proving to be interesting to say the least. The Bitcoin Dogs team attributes part of the project's success to its odd timing.
The bull market began to snowball early in the year, fueled by ETF approvals in January. The SEC passed 11 one-time requests, leading major financial institutions like Blackrock and Fidelity to begin accumulating BTC in unprecedented quantities – Blackrock's fund has now surpassed $11.5 billion in inflows total.
However, this was further compounded by other sources of institutional buying pressure beyond ETFs. Michael Saylor's MicroStrategy has doubled down on its long-term BTC accumulation strategy by acquiring 100 million dollars in new debt to make Bitcoin purchases last week. MicroStrategy now owns more BTC than any other public company, with a stash worth over $13 billion at current prices.
Saylor recently met with Jeff Bezos, with commentators suspecting a Bitcoin purchase by the Amazon boss. Bezos recently sold $8.5 billion in AMZN stock, and rumors are circulating that the sale was made to finance a BTC acquisition. Bezos would join Saylor and Elon Musk in the BTC-backed billionaires club if a purchase is confirmed.
Finally, the Federal Reserve should reduce interest rate throughout the year. Rate cuts mean investors are getting lower returns on “risk-free” investments like bonds, leading many to turn to “risky” assets like Bitcoin for bigger gains. The availability of cheap credit usually also leads to inflation, and Bitcoin is frequently purchased as a hedge against inflation. These two forces would likely drive demand for Bitcoin, as they did during the 2020 bull run.
Ordinals: the second wind of Bitcoin dogs
The Bitcoin Dogs team suggests that the project's proximity to Bitcoin puts it in an advantageous position to benefit from the positive spinoffs associated with a historic BTC rally. However, they also point out that there are other factors within the Bitcoin ecosystem that could further increase risk. Spotlight on 0DOG.
The project uses two cutting-edge Bitcoin technologies: BRC-20 and Ordinals NFT. The Ordinals protocol, put into service in 2023, makes it possible to issue and secure NFTs and personalized tokens on the Bitcoin blockchain, much like on Ethereum or Solana.
0DOG is one such token and is the first BRC-20 to launch via an ICO. Buyers hope 0DOG follows in others' footsteps BRC-20 tokens, many of which saw considerable gatherings. 1CAT, the Bitcoin Cats project token, saw over $50 million in trading volume quickly after its launch, and Ordinals tokens saw double-digit gains during Bitcoin's recent surge.
Thanks to Ordinals, Bitcoin NFTs also become more popular than their Ethereum counterparts. Given this hype magnet, the team behind Bitcoin Dogs is optimistic that Bitcoin Dogs could very well become the next viral collection to dominate the market, especially given the size of their community – the official X account has more than 100,000 subscribers before public registrations. The team is optimistic that this could propel 0DOG to new heights.
There are less than 5 days left in the Bitcoin Dogs presale, with a final presale price of $0.0404, after this time the coin will go public. Considering current market trends and upcoming developments, Bitcoin Dogs may present an interesting opportunity for those who will closely follow the latest developments in Bitcoin.
About Bitcoin Dogs
Bitcoin Dogs innovates in the Bitcoin ecosystem. For the first time ever, NFTs, gaming, and new token types come together to offer the first ICO on the original Bitcoin blockchain. Bitcoin's truly permissionless immutability is being leveraged to create the 0DOG token, while a play-to-earn (P2E) experience and NFT collection is being developed exclusively for 0DOG holders.
Users can find more information and how to buy Bitcoin Dogs (0DOG) by visiting the website.
Contact
Bitcoin Dog Team
Bitcoin Dogs
(email protected)