The continuous interaction among various cryptocurrencies brings about an interesting correlation, especially with Bitcoin (BTC) that sets the path for pricing, value. Along with the Bitcoin Halving event, that determines how the crypto market behaves.
Bitcoin – The Big Bang of the Crypto Universe
Bitcoin (BTC) is where the crypto universe begins. BTC introduced the concept of decentralized digital currency, without any middlemen like banks. BTC’s blockchain technology ensures secure transactions, and its scarcity (with a maximum supply of 21 million coins) contributes to its value.
Bitcoin Halving
Every 4 years a significant event occurs in the Bitcoin network known as ‘Bitcoin Halving’.
The supply and demand dynamics of BTC are affected by its Halving. Halving effectively reduces the available supply of Bitcoins by reducing the rate at which new BTC enters the market. Due to Halving the supply decreases. After the halving event the price of Bitcoin should rise, assuming demand remains constant or increases, basic economic principles suggest that.
This ensures its scarcity, value preservation, and long-term sustainability as a digital currency. The last Bitcoin halving happened on May 11, 2020, resulting in a block reward of 6.25 BTC. The next halving is expected in early to mid 2024 when the block reward will fall to 3.1251.
The final halving is expected to occur around 2140 when the number of bitcoins circulating will reach the theoretical maximum supply of 21 million.
$0.005 Target for Memecoin BEFE
Begun with the goal of restoring memecoins to their former glory, BEFE broke the memecoin market. Launched with no pre-sale and no taxes, it has been experiencing an unprecedented surge, hitting new records along the way.
Due to the ‘Bitcoin Effect’, when the price of BTC due to the event of Bitcoin Halving, the price of other cryptocurrencies tends to rise as well.
Now if Bitcoin reaches its speculated price surge, it would likely trigger a massive bull run in the crypto market. This could lead to increased interest and investment in memecoins, potentially leading to a significant price surge.
Why choose BEFE – the reboot of memecoins
Performance: It has shown commendable resilience and growth, with a nearly 600% gain since its launch and a 30% surge in February alone. An average daily trading volume of over $300k signals strong investor interest and liquidity.
Market Sentiment: The Fear & Greed Index for BEFE, standing at 74 (Greed), provides insight into market sentiment. The Greed index is used to gauge the emotions and sentiments of investors, where “Greed” suggests a bullish market outlook among investors. This potentially indicates a continued interest and upward momentum.
Strength Index: Its Token’s 14-day Relative Strength Index (RSI) of 46.19 shows that it is neither overbought nor oversold, suggesting a stable investment opportunity relative to other meme coins.
Listing on Multiple Exchanges: It is listed on prominent centralized exchanges such as Gate.io, AscendEX (BitMax), MEXC, and Biconomy Exchange. Such wide availability makes sure that investors have multiple avenues to invest & explore.
Website: befetoken.com
Telegram: t.me/befetoken
Twitter: twitter.com/befetoken
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
