Bitcoin has been a crucial token over the past few months, sparking a crypto market rally in October. Now, the price of Ripple and a new altcoin, Pullix, could reach $3 if Bitcoin breaks this level. Keep reading to find out what the key level is.
Bitcoin (BTC) witnesses price fall
The price of Bitcoin (BTC) saw a significant decline on December 11, its first decline in almost a month. Investors expected an uptrend to continue until the SEC approves a spot BTC ETF in January 2024.
During this downturn, more than $340 million in long-term contracts were liquidated as the value of Bitcoin fell to $40,000. Fortunately, Bitcoin price has since shown a modest recovery up to the critical support level of $42,000.
If Bitcoin breaks through the $43,000 mark, it would invalidate the current bearish outlook. Additionally, this would allow the cryptocurrency to potentially reach $44,000. Meanwhile, analysts are predicting a rise to $100,000 for Bitcoin. A rally to $100,000 would mean more price gains for Ripple and Pullix, taking them to $3.
Ripple (XRP): analyst remains optimistic despite price drop
Ripple (XRP) fell dramatically following the market correction on Monday. On several platforms, many long positions were closed. A cryptocurrency analyst, Egrag Crypto, commented on Ripple’s sharp decline.
The expert emphasized throughout his presentation that cases like this demonstrate the instability of the Bitcoin market. Furthermore, he warned against using leverage during the trading session. Despite this, the analyst remains optimistic about Ripple’s price direction.
Market analysts predict that the market value of Ripple coin will increase. He also urged XRPArmy to stand firm since its path to $1.4 has not changed. Ripple XRP is now trading between $0.609592 and $0.692066 over the past week following 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 costly fees. Pullix leveraged decentralization, a user-friendly platform, to solve these problems.
The exchange platform is built with cold storage and multi-signature wallets to protect users’ valuables. Users can also generate passive income by staking the native PLX token. Pullix users can stake PLX tokens to receive a constant stream of passive income. This technique promotes long-term investments as well as token demand.
Users can also contribute to network liquidity and benefit from interest rates ranging from 8% to 18%. This provides users with ongoing income while increasing the possibilities of the platform and making it more attractive to new users.
Therefore, 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 essential to remind them that presale tokens are limited. It is therefore essential to invest from the start. If Bitcoin reaches $100,000, the price of PLX could fall to $3.
Conclusion
The cryptocurrency market is currently waiting for the Bitcoin ETF and its halving, which analysts believe will push the price of Bitcoin higher. In the meantime, traders can accumulate Cardano and the relatively cheap pre-sale altcoin Pullix to realize price gains.
For more information regarding the Pullix presale, see the links below:
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Disclaimer: This article is promotional content and does not constitute investment advice. Do your own research and only invest money you can afford to lose.