BTC Whales Scooping Up Algotech (ALGT) as Presale Supply Runs Out, Litecoin and Bitcoin Cash Show Volatility

Source Livebitcoinnews
May 28, 2024 06:03

Whale Alert! The global cryptocurrency market is a bunch of activities, with heavyweight tokens like Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash (BCH) experiencing price volatility while underdogs like AlgoTech (ALGT) capture the attention of major institutional crypto investors.

This is clearly the scenario playing out with Algotech (ALGT), an AI-powered DeFi project in the midst of a red-hot presale with $5.4 Million raised, and Litecoin (LTC) and Bitcoin Cash (BCH) facing price fluctuations.

AlgoTech’s Presale Attracts Bitcoin Whales

AlgoTech, a Decentralized Finance Trading Platform powered by artificial intelligence (AI) is experiencing a heavy demand surge in its ongoing “Bonus Stage” ALGT presale. 

Bitcoin Whale, which are crypto investors holding a significant amount of Bitcoin (BTC), are reportedly accumulating impressive amounts of ALGT causing the token supply on the presale to dwindle as presale stages have ended, and the ALGT team releases a “Bonus Presale” stage of crypto retail investors to have an opportunity to participate in the ALGT presale.

AlgoTech’s ALGT presale has currently raised a whooping sum of $5.4 Million, and it’s on the move to hit more mouth-watering milestones. The Bitcoin Whale’s activity signifies strong confidence in AlgoTech’s technology and value proposition to the crypto community.

Image Source: Vecstock | Freepik

However, AlgoTech offers users features like automated algorithmic trading to potentially generate passive income, AI-assisted smart risk management, and personalized investment recommendations tailored to individual trader profiles.

In addition, the ALGT token boasts of its limited supply, creating a sense of scarcity and potentially driving up the demand for the ALGT token. Meanwhile early investors in the ongoing presale will reap significant rewards when the token launches on several crypto exchanges.

Litecoin and Bitcoin Cash Price Volatility

As we’ve established earlier on while AlgoTech enjoys a significant surge in demand, heavyweight altcoins like Litecoin (LTC) and Bitcoin Cash (BCH) are experiencing a period of price volatility. 

Litecoin (LTC) often referred to as the “silver to Bitcoin’s gold” has in 2017 faced a massive price dump after its founder, Charlie Lee announced he was selling his remaining LTC holdings.

The sell news sparked a lot of LTC sell-offs and raised uncertainties among investors who are holding the LTC tokens, leading to short-term price fluctuations. Though, Litecoin remains a prominent player in the cryptocurrency altcoin space.


Image Source: LTC Price Chart | Tradingview

Now, LTC Price is currently trading at about $85.3 and is in what looks like a rising wedge price pattern, which is a price pattern signaling a potential sell-off incoming. If the LTC price doesn’t break through the upper slant line of the rising wedge triangle then we might see a potential short-term sell-off. It is wise for investors not to buy inside the rising wedge pattern, but buy only when the price breaks out of the rising wedge.

Meanwhile, Bitcoin Cash (BCH), a hard fork of Bitcoin is designed primarily to increase transaction throughput and has also seen a recent price swing. This recent BCH price swing is because of the news of the upcoming general election of its network’s consensus mechanism, Proof of Stake (PoS).

Furthermore, though Litecoin (LTC) and Bitcoin Cash (BCH) have established track records, these short-term price fluctuations have caused a significant change in interest among crypto investors.

Conclusion

In investment, it is common knowledge to invest in sectors or commodities where institutional investors are investing, and in crypto, where Whales are investing. AlgoTech’s ALGT presale is a testament to the potential of AI-powered solutions. 

Learn more on AlgoTech’s Presale:

Visit Algotech Presale

Join The Algotech Community


The post BTC Whales Scooping Up Algotech (ALGT) as Presale Supply Runs Out, Litecoin and Bitcoin Cash Show Volatility appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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