The Bit Hotel Token Is Consolidating Close to the $0.08 Region and Could Be Poised for a Breakout
The BTH token has traded in a narrow range since its launch but managed to reach an all-time high of $0.26 which are impressive returns for a recently launched token. The token is an important altcoin of the metaverse ecosystem and provides a unique opportunity since it is just starting its journey. Metaverse tokens have become very popular among investors in the cryptoverse and some have delivered even 100X returns in a short span of time.
BTH is a premier game token that serves as the native token inside the Bit Hotel ecosystem. It plays an important role and is used for getting access to in-house merchandise and also an NFT powered marketplace.
The Bit Hotel token was recently reviewed by AltCoin Reviews that went into the pros and cons of the token. The AltCoin Reviews mentioned, “BTH is used for trading in-game assets and staking, there’s BHOTEL, which functions as the in-game token, earned by competing against other players in mini-games and other activities. The latter will provide access to various in-game activities and events, besides being redeemable for NFTs (quite like SLP tokens of Axie Infinity). The Bit Hotel team will hold NFT drops each month as well.”
The BTH token resides on the BSC network and has already seen a lot of investment from crypto and gaming enthusiasts. While it is a new token, it has already seen a lot of price appreciation giving good returns to initial hodlers. Long term investment potential of this altcoin is decent and you can head over to the Altcoin Reviews site for a detailed review of the coin.
Gaming tokens have been very popular as the metaverse and gaming universe represents a huge untapped industry for the cryptoverse. The BTH token has seen a lot of adoption by gaming enthusiasts all over the world. The game has taken the crypto world by storm displaying the immense reach of this market. It is a metaverse token and similar tokens have already delivered handsome returns to their holders. It taps into the metaverse gaming space and also reaches out to NFT participants. The BTH token provides twin benefits of both metaverse and NFT ecosystems and could be a good bet as underlined by Altcoin Reviews.
The cryptocurrency market is moving towards the metaverse space and this is also confirmed by the massive investments made by the two giant companies- Facebook and Microsoft recently. Facebook has even rebranded itself as Meta while Microsoft has made a huge investment in a gaming company Activision to kickstart its metaverse journey. It is in this light that Bit Hotel could become an attractive investment in the long term. The token is currently in the oversold territory and both new and seasoned investors could benefit from a long-term play. The token also enjoys sufficient volatility and should appeal to quick short-term traders.
As for the upcoming events for Bit Hotel, the AltCoin Reviews site also mentioned, “Bit Hotel was gearing up for its first-ever Initial Room Offering (IRO) in collaboration with the next-gen Babylons NFT marketplace. Half of the hotel room NFTs will be offered in BTH (at a 25% discounted rate) and the remaining half in BUSD (Binance USD). The offered real estate will include various options ranging from humble two-person rooms to penthouse condos and suites. Bit Hotel’s beta version release, availability of Play4NFT rewards and public game testing will all happen during the first quarter of 2022. The second quarter of the year will witness the actual game launch accompanied by monthly updates.”
The Bit Hotel token also provides various benefits to its hodlers and will introduce airdrops in the future. Metaverse tokens have done well in the past and early investments in such altcoins can provide handsome returns if the coin manages to develop a strong strategy in the future.
You can find a detailed review of the potential merits of investing in the Bit Hotel token at the Altcoin Reviews site. However, remember that cryptocurrency investments are volatile and there are no guaranteed returns. You should also supplement the information provided on any site by carrying out your own research. Never invest more than what you can afford in a new cryptocurrency token.
The BTH token is down by 3% as per CoinGecko and it could represent a nice opportunity to traders who are looking to capitalize and buy the dip.
The Altcoin Reviews site carries out detailed reviews of various altcoins to provide its readers with a fair picture of the merits and demerits of each token. The site also explains how to purchase the token on different platforms in a step-by-step guide manner.
Featured Image: Bit Hotel