Quick Facts:
- 1️⃣ Bitcoin is showing signs of recovery after a rough October, which saw its price drop below $105K.
2️⃣ The world’s largest cryptocurrency is currently trading at around $114.5K, with a potential to go up as the market awaits the US Fed’s next rate announcement.
3️⃣ While this is happening, Bitcoin Hyper has raised over $25.1M already, making it one of the year’s best crypto presales.
Bitcoin ($BTC) is off to a great start this week, as it rebounded back to the $115K level. But while the market remains jittery as it awaits the latest US Fed rate announcement, it’s getting some much-needed respite after weeks of taking a beating.
While that’s happening, Bitcoin Hyper ($HYPER) has blown past the $25.1M mark, making it one of the hottest presales at the moment.
Bitcoin Returns to $115K Despite Market Jitters
The world’s largest cryptocurrency is currently in recovery mode after dropping below $105K earlier this month. The weaker-than-expected US CPI data has increased the possibility of a new rate cut by the US Fed, which tends to improve the attractiveness of risk-on assets, such as crypto.
While Bitcoin remains the most popular digital asset on the market, it has its drawbacks. One notable weakness is its slow transaction speed, which peaks at just seven transactions per second (TPS). In contrast, Solana can achieve speeds of up to 65,000 TPS.
Slow transaction speeds cause network congestion in the Bitcoin blockchain, which ultimately makes transactions more expensive.
Another issue is $BTC’s limited utility. As it is, you can’t use it for anything other than as a store of value. That means no staking if you want to earn passive rewards.
