Bitcoin has been a pivotal token in the past few months, setting a crypto market rally in October. Now, the price of Ripple and a new altcoin, Pullix, could rise to $3 if Bitcoin crosses this level. Continue reading to know what’s the key level.
Bitcoin (BTC) Witness Price Crash
The price of Bitcoin (BTC) experienced a significant drop on December 11th, its first decline in nearly a month. Investors anticipated a bullish trend to continue until the SEC gives approval for a spot BTC ETF in January 2024.
During this downturn, over $340 million worth of long contracts were liquidated as Bitcoin value plummeted to $40,000. Fortunately, the Bitcoin price has since shown a modest recovery to the critical support level of $42,000.
If Bitcoin breached the $43,000 mark, it would invalidate the current bearish outlook. Also, this would give way for the cryptocurrency to potentially reach $44,000. Meanwhile, analysts have forecasted a rally to $100k for Bitcoin. A rally to $100k would mean more price gains for Ripple and Pullix, taking them to $3.
Ripple (XRP): Analyst Still Bullish Amid Price Drop
Ripple (XRP) dropped dramatically as a result of the market correction that entered the market on Monday. On multiple platforms, many long trading positions were closed. A cryptocurrency analyst, Egrag Crypto, commented on Ripple’s abrupt decline.
The expert stressed throughout his presentation that instances like this demonstrate the instability of the Bitcoin market. Furthermore, he cautioned against employing leverage during the trading session. Despite this, the analyst remains optimistic about the price direction of Ripple.
The market analysts predicted that the Ripple coin’s market value will rise. He also urged the XRPArmy to remain steadfast since their route to $1.4 has not changed. Ripple XRP is now trading in the range of $0.609592 to $0.692066 in the past week after its latest price drop.
Pullix (PLX), The Best Crypto For Beginners To Earn Passive Income
Pullix (PLX), a blockchain-based trading platform, will revolutionize online trading. This technique should eliminate transaction delays and expensive fees. Pullix has leveraged decentralization, a user-friendly platform, to solve these problems.
The exchange platform is built with cold storage and multi-signature wallets to protect user valuables. Users can also generate passive income via staking the native PLX token. Pullix users can stake PLX tokens to receive a steady stream of passive income. This technique promotes long-term investments as well as token demand.
Users can also contribute to the liquidity of the network and earn interest rates ranging from 8% to 18%. This provides users with continuous revenue while also increasing the platform’s possibilities and making it more appealing to new users.
As a result, the PLX token is the best cryptocurrency for beginners looking for passive income. The price of PLX tokens is $0.042 per token, which is intriguing. It is critical to remind them that presale tokens are limited. As a result, early investment is critical. If Bitcoin reaches $100,000, the price of PLX may fall to $3.
Conclusion
The cryptocurrency market is currently awaiting the Bitcoin ETF and halving, which analysts have forecasted will push the price of Bitcoin higher. While waiting, traders can accumulate Cardano and the relatively cheap presale altcoin, Pullix, for price gains.
For more information regarding the Pullix Presale see links below:
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