An Explanation About The Viral BTC20? Too Late to Buy Bitcoin?

Bitcoin (BTC) has had an impressive summer so far this year, following a stunning +25% gain in mid-June that has seen the price move firm above $30,000.

With the leading cryptocurrency now trading firmly at $29,810 (24-hour change of -1.4%), many investors are starting to wonder if it's too late to invest.

Bitcoin (BTC) Price Analysis

Indeed, with Bitcoin now in its 26th day of consolidation at current levels, questions are starting to emerge about whether this price move can be sustained.

Worryingly, over the weekend, Bitcoin's price dipped again below its critical 20-day moving average.

This can be disastrous for price action in the short term, the last time Bitcoin fell below this level, it had an 11-day decline of 9%.

If this happens again, Bitcoin will most likely return to $27,500. A seismic dip that will see BTC lose its hard-fought territory above $30,000 and return to tough resistance at $27,500.

And Bitcoin indicators provide little reason for optimism, with the RSI still overheating at 60 despite 28 days of bearish signals.

This indicates that the consolidation has not been enough to cool the RSI, and indicates the need for a retracement.

To make matters worse, there is additional downside confirmation from MACD suggesting a bearish divergence at -161.66.

However, despite the doom facing BTC's price movement, the Bitcoin community is excited at the prospect of new projects emerging that could see small investors finally join the ranks of 'wholecoiners'.

In stark contrast to the much-hyped ordinal BRC-20 boom earlier this year, we are about to meet the next big thing in Bitcoin which is BTC20.

Introducing BTC20: The Next Big Thing in Bitcoin

It should be reminded that BTC20 has no relation to Bitcoin.

Have you ever imagined what it would be like to own all of the Bitcoins? Sitting on the sidelines watching BTC reach an all-time high, wondering how much you could have made if only you were in the early days?

This is the moment as the Bitcoin community marks the start of a new era with BTC20.

BTC20 is Bitcoin but in a better version. Built to stand the test of time using ERC-20 proof-of-stake technology as its backbone, BTC20 promises to invent a whole new generation of Bitcoiners with the added promise of a more environmentally friendly network and passive income.

BTC20 Will Launch The Next Generation Of Sustainable Bitcoins

Indeed, over the years Bitcoin's proof-of-work model has drawn a lot of criticism due to its too high energy consumption. Too often it is powered by dirty grids that depend on coal-fired power plants.

This has been a major problem for Bitcoin globally, and is cited as the reason Beijing banned Bitcoin mining. In 2021 it was reported that the Bitcoin network was responsible for 113 metric tons of carbon emissions.

A staggering increase from just 0.9 metric tons in 2016, the problem will only get worse as future halving events and future increased difficulty levels will take a toll on miners.

BTC20 is the solution to this challenge, offering a shift to blockchain technology that is much cleaner and less demanding of proof of ownership for future Bitcoin transactions.

However, it is more than just a sustainable solution to Bitcoin's dirty energy problem, BTC20 has been an opportunity to re-imagine the way Bitcoin benefits its holders.

Staking Comes to Bitcoin Via BTC20

The benefits of BTC20 holders will be provided through a new stake-to-earn mechanism, to be launched in Q4 this year, which offers a promise of double rewards for those who commit to holding these tokens, and rewards are given out proportionally to the number of holdings.

The staking mechanism will seek to distribute a large number of locked tokens (a minimum of 14.95 million unsold in the presale) and token release will be in phases that are timed to suit the Bitcoin network.

With an attractive presale price of just $1 per BTC20 token, interest is soaring as Bitcoiners race for a share of the 3 million tokens up for grabs in the presale.

Imagine the growth that could happen, if BTC20 got just 10% of the Bitcoin market cap (10% = $58 billion today) then BTC20 would be worth $2,790 or an increase of 278,900%.

With a tokenonomic supply mirroring Bitcoin of 21 million tokens, and a team of developers dedicated to working on a roadmap with a 130-year outlook, the project's long-term sustainability may outlast Bitcoin itself.

BTC20 has been gaining traction from leading crypto analysts like Jacob Bury, which is testament to the skyrocketing traction surrounding the launch of the BTC20 presale.

You can read the BTC20 whitepaper here, in order to familiarize yourself with the next-gen technology underlying this exciting project.

Don't miss your chance to join the ranks of early Bitcoin supporters and become a wholecoiner today.

It is worth reminding again that BTC20 has nothing to do with Bitcoin.