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Crypto traders eye Bitbot launch as top economist says ETFs are a “game-changer”

By:
on Jan 12, 2024
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  • Mohamed El-Erian says spot Bitcoin ETFs will broaden participation in Bitcoin investing.
  • Bitbot is a new Telegram trading bot offering institutional-grade trading tools to retail investors.
  • The presale for the BITBOT token goes live on January 17, 2024.

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Crypto has entered a new investing era with spot Bitcoin ETF trading going live for the first time in the US on Thursday. As the market anticipation swells, a top economist says this development could elevate crypto investing to another level.

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Amid a mega start to the spot ETF, with predictions of Bitcoin (BTC) and crypto swirling, could new Telegram trading bot Bitbot (BITBOT) be another game-changer for traders?

El-Erian says ETFs will broaden participation in crypto investing

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Mohamed El-Erian, president of Queens’ College, Cambridge and chief economic advisor at Allianz, has shared his outlook for what SEC’s approval of spot Bitcoin ETFs means for the cryptocurrency sector, noting that calls of this being a “game-changer” were “right”.

El-Erian’s comments, shared via his official X account on January 11, came as the Bitcoin ETF market saw over $1.3 billion in volume in the first few hours of trading. The historic day coincided with a sharp swing in the price of benchmark cryptocurrency, with BTC jumping to above $48k before “sell the news” pressure pulled it back to around $46k.

Commenting on the spot ETF trend and what it could mean for Bitcoin investing, El-Erian noted:

“Advocates are right in calling this a “game changer” for #crypto as a financial asset/investment, though not as a potential global currency. This #SEC decision will do more than deepen and broaden participation in #Bitcoin #investing.”

As well as “countering legitimacy concerns fueled by the well-publicized scandals of the last few years,” the approval and trading are a notable development that anchors crypto as an asset in the investment world. This should be the case despite the fact that the ETFs do not mean Bitcoin will grow into a global currency, El-Erian noted.

Market experts say huge inflows into Bitcoin ETFs could catalyse Bitcoin price growth, opening up opportunities and revolutionising the broader crypto investment space. It’s this growing investment world that Bitbot (BITBOT) could redefine.

What is Bitbot?

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Set for presale launch on January 17, Bitbot is a Telegram trading bot designed to give retail investors access to institutional-grade trading tools. Telegram bots are custom trading tools or apps that allow small traders to take advantage of the Bitcoin investing world, without relying on hunches or exposing themselves to certain risks.

Bitbot, a new project, packs significant improvements compared to Telegram trading bots currently in the market.

As the first non-custodial trading bot, it boasts a new layer of security. With Bitbot, users have complete sovereignty over their assets – your keys, your assets. Recent exploits in the Telegram bots ecosystem means Bitbot’s eventual launch is already a highly anticipated event.

Other than tapping into MPC Custody and a keyless system, Bitbot has in-built Anti-MEV Bot and anti-rug features, adding another layer of protection against malicious monitoring bots or potential scams.

BITBOT presale launches next week

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Ahead of the trading platform’s launch, the native BITBOT token is set for presale. This is an opportunity for the traders to join the community, trade and invest.

BITBOT will be the governance token and will offer access to an exclusive revenue sharing model. Other benefits of joining Bitbot will include access to features such as a gem scanner, copy trading and passive income from the in-built referral program.

For more about this project, visit their website. Also sign up for the mailing list to receive up-to-date information as the presale goes live on January 17, 2024.

This article is a collaboration between our Editors and our Partners, and it may contain sponsored advertising content and links. The content is not intended as financial advice and is for informational purposes only.

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