The deepening economic crisis in China has stoked concerns about the future of Bitcoin (BTC). The development comes after the cryptocurrency reached record highs due to the interest in investing in BTC ETFs in the US. After a long wait over regulatory concerns, 11 Bitcoin ETFs were introduced in the US markets and they received an unprecedented response.

However, analysts are afraid that the impact of challenging economic conditions in China might be a dampener for Bitcoin’s rally. At the same time, a section of analysts also believe that as Chinese regulators rush in for damage control, Bitcoin, too, will have ample ground to bounce back.

Meanwhile, in the altcoin sector, an AI-led token has been making waves and giving tough competition to popular names. Built on Ethereum, InQubeta (QUBE) is a platform where AI-centric startups can find resources for business growth.

InQubeta: Helping AI startups navigate challenges in business development

InQubeta is a new-age platform where AI startups can find all the tools needed to scale their business. Be it fundraising, mentorship, or marketing support, InQubeta has an experienced team of professionals on board to guide young innovators. Its native cryptocurrency, the QUBE token, serves as the mode of payment for all transactions including tax payments.

QUBE finished 2023 on a positive note mainly due to its presale success and is expected to continue doing well this year too. So far, its cryptocurrency ICO has raised over $9.4 million.

The QUBE token is considered top crypto to invest in by many experts due to its unique use cases. One of its main USPs is its deflationary model where the token supply is tweaked according to market conditions to minimize frequent price fluctuations.

Under adverse market conditions like high inflation, the deflationary mechanism makes it harder for a crypto user to buy the QUBE token. The mismatch in demand and supply promotes competitive prices even under challenging conditions.

If there is an increase in supply, it’s reversed by burning the additional tokens in circulation. An identical mechanism is used for controlling internal inflation. When the QUBE token is bought or sold, the taxes collected on such transactions might inflate the supply.

To avoid such a situation, the InQubeta team burns 1% of the tax proceeds. The rest of the collections are used for staking services, pumping in liquidity, and funding marketing activities.

InQubeta’s potential isn’t limited to fundraising and it can assist a startup with expanding business too. With InQubeta, enterprises can seek relevant support to address challenges across various fields. If they are wondering about how to build a roadmap for their company, they connect with AI veterans to seek guidance.

To address accounting or finance-related queries, there’s a team of advisors available on InQubeta to help startups out.

InQubeta also offers marketing and social media support to help companies struggling with brand outreach. AI startups can connect with professionals from different industries and tap into digital mediums to make the right noise about their projects.

A month since launch, 9 Bitcoin ETFs have crossed $10 million AUM

Bitcoin is a permissionless cryptocurrency that facilitates fast and secure online transactions. These transactions are conducted with its native token BTC and are confirmed by proof-of-work consensus protocol.

Bitcoin rose to new heights with the introduction of crypto ETFs in the US. After a green light from US regulators, 11 ETFs debuted in the market on January 11 and witnessed record investor inflows. The development also helped Bitcoin’s value appreciate and even outperform some of the best altcoins for 2023.

The spot Bitcoin ETFs completed a month on February 10. Since their approval, nine of these ETFs clocked $10 million in assets under management, according to data from BitMax Research.

However, a few analysts believe that the economic crisis currently gripping China is likely to test Bitcoin’s resilience over the next few months.

Conclusion

Bitcoin and InQubeta have been continuously featured as analysts’ top picks with their robust market innings. In the past few months, Bitcoin cemented its position as a cryptocurrency for all seasons with the ETF mania. Meanwhile, InQubeta staved off competition from several new altcoins with its utility-oriented model.

However, what’s common between the two cryptocurrencies is their security frameworks that assure investors about the safety of their assets. These decentralized frameworks comply with international standards and have been vetted by leading blockchain audit firms.

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