The emerging prominence of artificial intelligence (AI) language learning models is bringing a new paradigm to the cryptocurrency market, empowering potential investors in their research. For instance, OpenAI's ChatGPT and Google Bard are being utilized by investors to conduct analysis and provide insights and predictions for a wide array of new and established cryptocurrencies.
One of the new cryptocurrencies that AI language learning models predict could perform exceptionally well in 2024 is Bitbot (BITBOT). News of its presale launch on the 17th of January has gone viral, with over 300 million tokens up for purchase during Bitbot's much-awaited 15-stage presale event—and token prices starting at a discounted rate of $0.01. Its promise is already being reflected by its strong community numbers – over 84K on X and 5.5K on Telegram. Not to mention the 132k already raised in 2 days.
Read on to learn why ChatGPT believes Bitbot can generate a potential 50x-100x gain in the wake of the Bitcoin ETF approval and halving/bull run cycle in 2024.
The crypto world is evolving at the speed of light, with a trend firmly emerging for trading bots; they're becoming an essential part of the modern crypto trader's arsenal. ChatGPT, for instance, believes that.
"A combination of convenience, automation, accessibility, and privacy are among the key reasons why Telegram trading bots, in particular, have gained traction."
Trading bots facilitate the autonomous execution of trades in the cryptocurrency market based on predefined strategies and parameters. Telegram trading bots allow this to take place within a user's Telegram app. With the widespread accessibility and use of Telegram in the crypto world, plus their ability to integrate with major crypto exchanges, these tools enable simpler, easier onboarding and UX for trading and the ability for traders to stay ahead of the market 24/7.
The palpable demand for Telegram trading bot solutions has led to the launch of tools like Unibot, Banana Gun, and Maestro. However, the current crop of Telegram trading bots has had serious security breaches.
In October, Unibot suffered a $560K hack, and Maestro suffered a $485K hack, as reported in Cointelegraph. And Banana Gun lost 99% of its coin value quickly after launching due to a suspected rug pull.
This is driving demand for a new, robust, and comprehensive Telegram trading bot with industry-level security. The solution: Bitbot.
Bitbot is launching the world's premier non-custodial Telegram crypto trading bot, partnering with decentralized digital asset self-custody service Knightsafe to deliver seamless interaction between DeFi protocols, crypto exchanges, and Telegram. Retail investors had the short end of the stick for far too long compared to crypto whales and institutional investors, who possess an unparalleled advantage, tools, and capital.
Bitbot is accessible to traders of all skill levels. The sign-up process is simple, and users can create up to three free wallets. As we'll see in more detail below, users can trade from their cold wallets via Telegram: a key USP.
The bedrock of Bitbot's value proposition lies in one of crypto's basic tenets: "Not your keys, not your crypto." Bitbot users will be able to connect their cold wallets, retaining full custody over their private keys, ensuring complete and unbridled control over their digital assets, and only having their funds transferred once trades are complete.
Bitbot achieves this through advanced custodial technology supported by Knightsafe. Multi-party computation wallets replace private keys with a multiple key share system between parties. This ensures that no single entity holds your keys at any one time.
Another one of Bitbot's most anticipated features is its Gem Scanner, which scours the internet and social media for ongoing presale events. Its Alpha List feature will help traders improve their signal-to-noise ratio by enabling automatic trading of promising presales based on robust on-chain analytics.
And with its automated trade sniping feature, users can have Bitbot perform automated trades for them by setting their gas fee tolerance and snipe trades without being adversely affected by slippage. This offers traders the ability to buy at the bottom and sell at the top on autopilot.
Finally, Bitbot emphasizes its commitment to security through its anti-MEV (maximal extractable value) bot, which protects the interests of its users from MEV bots that exploit on-chain monitoring for potential opportunities and artificially pump gas fees for financial gain.
Bitbot will also feature anti-rug pull tools, ensuring Bitbot users and their digital assets are covered with round-the-clock industry-grade security protection against potential scams. Anti-rug features monitor on-chain activity for anything suspicious with the aim of avoiding a Banana Gun type scenario.
Bitbot could not have launched at a more optimal time. Now that the Bitcoin ETFs are signed, sealed, and delivered—and we're months away from the Bitcoin halving and a highly likely bull run—the demand for trading solutions like Bitbot can reasonably be expected to soar.
According to CoinDesk, for the earliest presale investors, Unibot delivered 200x last year, with its token breaching $200 as its market cap ballooned past $200 million before it was hacked. Similarly, despite its fiasco, Banana Gun still has a market cap of around $30 million.
The Telegram trading bot space is only just getting started. There are a few niche players in a market that's already boasting $5 billion in trading volume. And considering that Bitbot has learned from its competitor's mistakes by offering a much stronger product and security features, 50x-100x gains in a bull market scenario for early-stage investors seem like conservative estimates.
With a total user base of over 800 million Telegram users, it's easy to see why analysts are bullish about Bitbot's prospects in 2024.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.