Bitcoin Price Stalls Round $25,000, While New Crypto Presale Bitcoin BSC Launches With Stake to Earn Rewards
Tuesday, September 5th, 2023 – While the Bitcoin price stalls around $25,000, there are happier hunting grounds in the ‘Bitcoin clone’ space, where today, crypto presale Bitcoin BSC launches its stake-to-earn coin.
Although the world’s premier cryptocurrency, Bitcoin, might be struggling to hold its footing above the $25k level, after positive sentiment concerning the prospects for a spot bitcoin dissipated, Bitcoin clone derivative coins are faring much better.
For instance, over the past three months, the Bitcoin Cash (BCH) fork from Bitcoin is up 73%, while Bitcoin has fallen -2.3% in the same time frame.
Meanwhile, a similar staking-based bitcoin derivative coin to Bitcoin BSC, BTC20, which launched a month ago, is up 52% (see chart below).
In fact, BTC20 hit an all-time (ATH) intraday high of $6, equating to a 688% 7x gain on its $1 presale and listing price.
Yet another bitcoin clone derivative, this time BTC2.0, rose to an ATH of $1.06 to register a return of 538x, although the price has retraced markedly from its peak.
Bitcoin BSC aims to match, or beat, the success of all of these Bitcoin clone coins, and to achieve that end it has a not-so-secret weapon – staking.
While the performance of BTC2.0, not to be confused with BTC20, since its heights has been somewhat underwhelming, there has been more of a steady-as-she-goes approach by the likes of BTC20.
That’s probably largely down to the ballast effect of staking, which bears down on any selling pressure that may emerge at listing.
In this way, Bitcoin BSC seeks to emulate BTC20 by adopting a similar design and strategy, providing the price with a stable platform for take-off.
Like BTC20, Bitcoin BSC has staking utility built into its design from the outset.
However,
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