Bitcoin Price Could Hit $50,000 In 2023, But New Cryptocurrency BTC20 Could Steal The Show; its presale is a hit. The 100,000 dollar mark has been largely exceeded: 164,000 dollars have already been raised during the current presale.
In less than 24 hours, tens of thousands of dollars have poured into the presale, and the pace is accelerating all the time.
The BTC20 token has an initial maximum supply of just $3 million to raise, so potential buyers are advised to get started early.
BTC20 is “Bitcoin on Ethereum” and offers the crypto community the opportunity to buy bitcoin at the 2011 price – the incredibly low price of $1.
What’s more, BTC20 isn’t super cheap only thanks to the power and scalability of the smart contract behind it, it can also provide stakers of the token with a 65% annual return, for those who hold for 12 months – see more on that below.
Buy $BTC20 the “Bitcoin Ethereum” for $1 with the possibility of a return of 5,000,000%
First-time buyers could realize considerable returns on investment. Bitcoin going from $30,000 to $50,000 would represent a 66% gain. But for BTC20, going from the pre-sale price of $1 to $50,000 would represent a 5 million percent increase.
The original bitcoin has been compared to digital gold due to its proof-of-work (PoW)-based consensus mechanism and its scarcity, but it has drawbacks that $BTC20 fixes.
In fact, $BTC20 will be rarer than current bitcoin because it reinvents the blockchain. There is only a maximum of 6.05 million tokens on sale during the presale, mirroring the 6.05 million bitcoin tokens in circulation in 2011
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BTC20 is green and provides passive income with a 65% rate of return
Because BTC20 runs on the Ethereum blockchain which uses Proof of Stake (PoS) instead of the computationally expensive Proof of Work (PoW) consensus mechanism, it is a green crypto, which is another big selling point.
However, it is probably the “stake-to-earn” feature that makes investors react. As with the original bitcoin, network participants can be rewarded for their efforts. However, with BTC20, this reward is obtained through a “stake-to-earn” system instead of Bitcoin’s “PoW” mining system.
BTC20 stake-to-earn system explained – and how you can earn 65% APY (annual return)
Because BTC20 follows the bitcoin model, for each block confirmation, a set amount of BTC20 will be unlocked and distributed among token holders who stake them.
Bitcoin miners are rewarded for the work they do to secure the network – assuming they finish ahead of the race to be the first to post their proof of work – and currently receive 6.25 BTC for each block produced. BTC20 replicates this approach.
The amount of tokens released is not related to the number of holders, but to the actual bitcoin block production rate since 2011. In other words, the number of holders who have staked their tokens has no bearing on the magnitude of token release.
Example 1
If 6 BTC20 are unlocked, with an assumed staking pool of 100,000 BTC20, and you stake 20,000 BTC20, you will receive a fifth of the rewards. In this example, your earnings would be 1.2 BTC20.
Example 2
Suppose the following:
- User stakes for 1 year
- Rewards are at their current level (6.25 BTC20 per block).
- About 50,000 blocks are “mined” per year.
- User stakes 5,000 BTC20
- The total staking pool is 500,000 BTC20.
In example 2, the holder would have 1% of the pool and therefore accrue rewards of 3285 BTC20 over 12 months, which equates to an annual percentage return (APY) of 65.7% – see screenshot below:
Buyers of BTC20 can not only expect investment returns from the rising price, but also passive income from staking their tokens.
Memecoin HPOS10i ($BITCOIN) gains 78,117% – BTC20 price may follow suit
Bitcoin Cash (BCH) and Bitcoin SV (BSV) are probably the best-known bitcoin clones. BCH, for example, has seen gains of 129% over the past 30 days.
When bitcoin is up, so are its clones. But there are also other imitators, this time bringing a memecoin flavor to the ecosystem.
Harry Potter Obama Sonic 10 Inu (aka HPOS10i) is a memecoin that uses the ticker (symbol) $BITCOIN. This crypto today has a market capitalization of $68 million.
HPOS10i gained 78,117% from $0.0001010 on May 10 to an intraday high of $0.079 on July 19.
HPOS10i also has its imitators. HPOS10i2 – with ticker $BITCOIN2 – launched on July 16 and rose 1316%, reaching a price of $0.001961.
$BTC20 clings to this “clone” story in a more powerful way. It doesn’t bother with being a fork, like with BCH and BSV, nor does it understand the dubious aspect of HPOS10i’s low utility.
It is perhaps unsurprising that BTC20 is grabbing everyone’s attention. Cryptopotato, Cointelegraph, Cryptonews, and Finbold all featured the coin. Also, at least one crypto expert on YouTube has predicted a 10x increase in the price of the coin.
Nor should the buzz surrounding the rapidly growing BRC-20 token industry that has been growing on the bitcoin network be overlooked. Again, by association, BTC20 may be a beneficiary of this development of “ordinal” NFTs on the bitcoin blockchain.
Bitcoin Halving Supercycle Will Drive BTC20 Price Higher
The term “halving” refers to the 50% reduction in rewards given for each block mined by bitcoin miners. This event takes place every four years, as per the way the protocol was designed, which slows down the issuance of new BTC coins. The next halving will take place on April 26, 2024.
In previous cycles, the price of bitcoin has always risen dramatically as the halving date approaches. In all likelihood, this cycle will be no different. Rewards will be halved from 6.25 BTC to 3.125 BTC.
Once again, BTC20, due to its association with the brand, will be one of the beneficiaries of this halving supercycle, which some believe has already begun – hence the predictions that bitcoin could hit $50,000 in 2023.
$BTC20 could hit its $3 million target very soon
Bitcoin on Ethereum $BTC20 has a lot of selling points, which means it is likely to reach its first cap target at $3 million very quickly.
It should be noted that an additional offer of $3,050,000 could be up for grabs in a second stage of the presale, but early buyers will need to fast-track their decision-making to avoid disappointment.
With the market generally having had the worst of the crypto winter, it seems like it’s time to get back into bitcoin. But come back for $1, not $30,000, and secure life-changing returns.
BTC20 can be purchased with Ethereum or USDT, and presale is open now.
Disclaimer: This article does not represent investment advice. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.
