Bitcoin stays below $30k: Will inflation data push it higher?

Bitcoin stays below $30k: Will inflation data push it higher?

By Hassan Maishera - min read

Key takeaways

  • Bitcoin has been trading below the $30k level in recent days, but favourable inflation data could push it higher.

  • Chancer’s stage two presale is now close to the $1.2 million mark. 

The cryptocurrency market has been choppy over the past few weeks, with prices of most coins stuck within certain regions.

BTC has been trading below the $30k level for the past few days, with market experts still believing it could drop lower in the near term. 

Bitcoin stays below $30k

Bitcoin, the world’s number one cryptocurrency by market cap, began the week in a positive manner. BTC has added more than 1.5% to its value so far today but continues to trade below the $30k psychological level.

At press time, the price of Bitcoin stands at $29,424. Bitcoin could be heading towards the $30k level over the new few hours or days if the inflation data in the United States comes out favourably. 

The inflation data could determine if the US Federal Reserve continues its rate hikes or will stop them. Halting rate hikes could be a bullish sign for Bitcoin and the broader cryptocurrency market. 

What is Chancer?

The recent bearish trend in the market has not affected Chancer’s ongoing presale event. Chancer is a web3 project that seeks to decentralise the betting ecosystem. 

It is a Web3 peer-to-peer (P2P) custom betting platform allowing users to live stream betting events. Chancer will operate as a completely decentralised online gaming platform.

Chancer is building a platform that will offer improved services compared to what they are getting from the traditional sports and casino betting platforms. With Chancer, users can bet on any event, even ones they make up themselves. 

The funds raised from the funding rounds will be used to build the decentralised P2P betting platform. According to their whitepaper, Chancer users will have access to a wide range of features, including betting markets in real-time and based on user interests, social media connections, and expertise. 

Users will also be able to set up their custom P2P betting markets, allowing others to bet on selected events and games. 

Chancer’s second presale generates nearly $1.2 million

Chancer’s presale event will occur in stages, and the second stage is currently underway. The team has raised nearly $1.2 million of the $2 million required in the second stage. 

Chancer will use the funds from the presale to develop its products. The team will conduct 12 presale events, with a target of $15 million. 

Currently, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the next presale round.

The native token has numerous utilities within the ecosystem. Token holders can create markets and also invest in markets launched by other users.

By holding the token, users can create, participate in, and profit from their very own predictive markets. 

You can purchase the CHANCER tokens by connecting your Web3 wallet to the Chancer website. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

Visit the Chancer website to get more information about the presale. 

Should you buy CHANCER tokens now?

Investing in a project during its presale or private sale is usually one of the best decisions investors make. This is because the tokens are not available to the general public yet. 

With Chancer, it could be an excellent idea to invest in the project now. Chancer is a promising project and could gain massive adoption over the coming months and years.

If the adoption level rises, CHANCER’s price could skyrocket, and early investors could benefit. Early investors in projects such as Ethereum, Solana, Dogecoin, and Shiba Inu, recorded thousands of percentages in ROI. 

If CHANCER gains the necessary adoption combined with a Bull Run, its price could soar higher in the medium to long term.