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After Bitcoin demonstrated strong performance and experienced a dip to $41k, analysts have maintained a composed perspective, viewing the price decline as a minor challenge rather than a significant impediment for Bitcoin. Despite BTC’s dip, InQubeta (QUBE) has continued to wax strong. The project has raised over $8.1 million in its stage 7 presale.
Bitcoin’s (BTC) Brief Plunge
Last December, Bitcoin briefly dipped below the $41,000 mark.
This downturn, accompanied by a 4% decrease in Bitcoin’s price, was attributed to low liquidity above the $33,000 mark, influenced by favourable U.S. inflation data and the U.S. Dollar Index (DXY) approaching its lowest levels since September.
The annualized inflation rate in December slowed to 6.5%, aligning with economist forecasts.
This positive inflation data, coupled with the declining DXY, contributed to the bearish market reaction.
The U.S. Dollar Index (DXY) assesses the U.S. dollar’s value relative to a basket of foreign currencies, mainly weighted by the euro.
Investors closely track this index to gauge the overall strength of the dollar. Its fluctuations can affect various markets, including cryptocurrencies like Bitcoin.
Historically, Bitcoin has displayed a negative correlation with the U.S. Dollar Index, implying that as the dollar strengthens, Bitcoin’s price might decrease, and vice versa. However, this correlation is not fixed and can change over time. Recently, Bitcoin’s negative correlation with the U.S. Dollar Index shifted, as the cryptocurrency struggled to gain upward momentum amid a persistent dollar sell-off.
At the time of writing, Bitcoin (BTC) is trading at $46,409, with a 166% price increase in the past year.
The InQubeta (QUBE) Presale: A Closer Look
Despite the longstanding crypto winter, the InQubeta (QUBE) presale has managed to hold its own.
InQubeta aims to reduce barriers to funding for AI and Web3 projects, enabling blockchain enthusiasts to invest in these projects via fractional NFTs.
Currently in its stage 7 presale round, QUBE is priced at $0.0224, with over $8.1 million raised.
Artificial intelligence (AI) technology plays a crucial role in facilitating digital transitions across various sectors, including healthcare, manufacturing, e-commerce, customer service, virtual assistants, and financial services.
AI contributes to automating processes such as chatbot deployment, patient diagnostics, and data analysis, making it an indispensable sector in the digital age.
The rapid expansion of AI has sparked ethical debates and uncertainty among traditional investors, similar to emerging technologies like blockchain and Web3. The exponential growth in the field leaves little time for a thorough investigation into its financial viability.
InQubeta allows startups to mint and fractionalize their investment prospects as NFTs, which are available in the InQubeta NFT marketplace for QUBE holders to purchase.