As the crypto market braces for Bitcoin’s halving, skepticism looms among analysts about the best cryptocurrency returning to the $50,000 mark. While Bitcoin navigates through volatile waters, a new ICO, InQubeta, emerges as a promising investment, challenging established players like Hedera and Filecoin with its innovative approach to the AI and crypto space.
Bitcoin’s Volatile Journey Amid Halving and ETF Dynamics
Bitcoin’s journey was its halving event which was on April 19. After a little anticipation, high transaction and volatility. The halving will slash the block reward from 6.25 to 3.125 Bitcoin, a deliberate measure to curb inflation and create scarcity similar to that of precious metals like gold. These events have traditionally heralded major price increases for Bitcoin, sparking speculation about another impending bull run.
The market is currently a jumble of conflicting signals. The recent approval of spot Bitcoin ETFs in Hong Kong gave Bitcoin prices a temporary boost, hinting at a potential bullish trend. However, this initial enthusiasm was short-lived, quickly subdued by larger geopolitical issues and a significant pullback of capital from Bitcoin ETFs. This has injected a dose of caution into the market, cooling off the initial excitement and leaving investors wary. Notably, while BlackRock’s iShares Bitcoin Trust (IBIT) saw a net inflow decrease, it still managed positive gains, in stark contrast to the Grayscale Bitcoin Trust (GBTC), which sustained heavy outflows, recently shedding $110.1 million in just a day.
The diminishing inflows into Bitcoin ETFs and the persistent outflows particularly from GBTC hint at a cautious or bearish stance from investors anticipating post-halving price dynamics. Despite these negative events, analysts do not buy into the fact that BTC may go back to $50k.
InQubeta (QUBE) Setting Sights on High Returns
Amid the volatility surrounding Bitcoin, InQubeta emerges as a compelling new force in the cryptocurrency landscape, poised to capture the next surge of investor interest. This innovative platform merges artificial intelligence (AI) with blockchain technology, creating unique opportunities for fractional investments in AI startups—areas typically reserved for Silicon Valley’s elite.
InQubeta allows people to buy NFTs in fraction, where these NFTs are nothing but a representation of AI companies. Through this model, it’s not only the startups that benefit from funding, but also the investors who get early-bird access to something big.
QUBE tokens are deflationary by design, featuring a buy and sell tax that enhances their scarcity and utility, which in turn spikes up their value. It has been a wonderful presale phase for InQubeta, as the token sale raised $13.6 million. QUBE is currently trading on exchanges like Uniswap and MEXC.
The team is not stopping at the success of the presale, as we are about to witness the launch of the NFT marketplace, Swap, and DAO by 2024. Multichain expansion is also expected around this year, making QUBE one of the best altcoins across chains.
Additionally, InQubeta ensures robust security and compliance, having been audited by Hacken and verified by BlockAudit, which bolsters its attractiveness to investors wary of the pitfalls in the crypto space.
Conclusion
While Bitcoin is currently impacted by Iran-Israel war tension, it’s a matter of time before it may rebound to higher levels. Analysts don’t see any technical or fundamental reason for it to touch $50k soon. Also, the upcoming halving will play a role in market dynamics. Meanwhile, InQubeta has emerged as an innovative AI crowdfunding platform that eases investment for retail. It’s already trading in the open market now, with good volumes.
