Skip to content

Press Releases are sponsored content and not a part of Finbold's editorial content. For a full disclaimer, please click here. If you encounter any issues, kindly report them to [email protected]. Crypto assets/products can be highly risky. Never invest unless you’re prepared to lose all the money you invest.

Bitcoin And Ethereum Prices Continue To Struggle As Whales Back New Bitcoin BSC Token After Raising Almost $5 Million

Press Releases

Bitcoin and Ethereum continue to stagnate this September. Ethereum is down nearly 5% on a monthly basis and about 2.5% on a weekly basis. Bitcoin has broken roughly even on both a weekly and monthly basis but shows little potential upward momentum going forward.

However, while the two major tokens continue to struggle, a new token called Bitcoin BSC has emerged as a potential alternative. The stake-to-earn project has defied the bear market by raising nearly $5m in a few weeks and offers strong APY yields (108% at the present time) that are always useful in difficult market conditions. 

Bitcoin and Ethereum Trading Sideways

Major cryptocurrencies like Bitcoin and Ethereum have not seen much movement in either direction this month. Bitcoin is currently priced at about $26,500 while Ethereum is priced at $1,590. 

Bitcoin has been trading sideways between $26,000 and $27,000 for the past month, since it dropped from $29,000 in mid-August. 

Ethereum has fared similarly, trading between $1,500 – $1,700 this past month, down from $1,850 in mid-August. Many traders are suggesting a major breakout for both of these coins soon, depending on the Fed’s monetary policy and the SEC’s decisions regarding spot Bitcoin ETF applications. 

October has traditionally been a strong month for Bitcoin investment judged by monthly returns, and this could prompt further investment. Moreover, many are surprised at Bitcoin’s resiliency in the face of market conditions, such as corrections to the S&P 500 and NASDAQ 100. Many investors seem unwilling to sell the assets, indicative of why the token is so resilient in its current range. 

However, this could change soon. A rise in interest rates could force the hands of many existing holders into sell positions. One Twitter analyst with 300,000 followers has suggested that BTC will have to hit the $20,000 mark before any upside potential is to be expected. 

Another trader (Rekt Capital) mirrored a near-identical idea to over 350,000 followers, indicating that Bitcoin could repeat patterns observed in both 2015 and 2019 (two pre-halving years), dipping back down to $20,000 as a result.  

Short-term BTC holders might soon be in the red as Bitcoin is not offering much in either direction. It also does not provide any staking rewards to investors, unlike presale offerings such as Bitcoin BSC. 

Could Bitcoin BSC be a Better Alternative?

With the future of Bitcoin (and Ethereum) uncertain, many are flocking to alternative tokens such as Bitcoin BSC, a stake-to-earn Bitcoin replica that has already seen $4.8 million worth of investment since its initial launch. It presently offers an impressive 108% PoS APY.

 The reasons for this whale interest make perfect sense when you examine the presale. It has a similar tokenomics to Bitcoin in 2011, but at a price of $0.99. 

Yet this is a utility-driven token derived from the BNB Smart Chain, with no official relationship with Bitcoin. This means that it is low-cost, eco-friendly, and smart contract-capable. In contrast, Bitcoin has been heavily criticized for being an environmentally damaging token with no rewards, slow confirmation times, high fees, and limited utility. 

In other words, the appeal is that it takes Bitcoin in 2011 but enhances it heavily through a high voltage BNB Smart Chain, taking all of the benefits yet none of the drawbacks.

Many analysts, such as Michael Wruble, have pointed out that clones like Bitcoin BSC offer a far superior upside profile in comparison to Bitcoin. It resets Bitcoin to what it was like back in 2011, at a much lower price. 

Another Bitcoin replica, BTC20, recently experienced a 600% upside shortly after completing its presale, highlighting the potential of such projects.

Bitcoin BSC is likely to soon hit its ~$6 million hard cap and is priced at $0.99, leaving limited time to invest.

Visit Bitcoin BSC Presale


This post is sponsored. Finbold neither endorses nor takes responsibility for the accuracy, quality, advertising, products, or other materials on this page. Readers are strongly encouraged to perform their own research before making any decisions regarding the company. Finbold will not be held accountable, either directly or indirectly, for any harm or loss that may stem from or be linked to the usage or reliance on any information, goods, or services mentioned on the page.