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Today, we’ll delve into the current technical outlook for Bitcoin (BTC), hinting at a potential deeper pullback to $38,000. Additionally, we’ll explore the surging interest in Pullix (PLX) as over 11,000 individuals have registered for its crypto ICO event. Market analysts even hint that this DeFi project, now in Stage 6 of its presale, may soar by 1,000% in 2024. Find out why.
The Bitcoin Price May Drop Soon
Bitcoin (BTC) has fallen to $41,500 since the debut of spot ETFs in the U.S. According to 10x Research’s analysis of Bitcoin’s price patterns and technical indicators, it may continue dropping. Recently, 10x Research issued a note to clients indicating that Bitcoin’s RSI divergence signals a correction. The pullback may find potential support near the $38,000 level.
The recent Bitcoin cryptocurrency price movement has fluctuated between $44,090 and $41,500 in the past month alone. Its market cap has fallen from $863B to $814B in that time.
Not only that but there are now 16 technical indicators in red for this DeFi coin. Thus, market analysts have made a bearish Bitcoin price prediction. They foresee its value dropping to $40,194 before February 2024 ends.
Pullix (PLX): Presale Attracts Record Interest
In contrast to Bitcoin, Pullix (PLX) is generating a buzz with its stellar presale performance. Pullix announced that over 3,500 community members are now part of its journey. Close to 75M PLX tokens sold and over $4M has been raised during this crypto ICO event so far.
Global investors are gravitating towards Pullix for its game-changing features. To clarify, Pullix will establish a hybrid trading platform combining the best CEX and DEX aspects. As a result, traders will experience high leverage at 1000:1, access to all asset classes (including cryptos), and more.
The PLX native token is the main currency used as trading credits on Pullix. Holding it provides you with access to certain assets as well as reduced trading fees. But what makes Pullix special is its unique revenue-sharing model, “Trade-to-Earn.”
With this system, Pullix will reward PLX stakers with a percentage of its daily earnings. Also, traders can stake other cryptos with Pullix for a fixed interest rate, which provides tremendous passive income capabilities. Thanks to Pullix’s connections to the Forex market, which Baby Pips claims is the biggest, its long-term growth potential is high.
What Gives Pullix the Competitive Edge Over Bitcoin?
Pullix (PLX) has a market cap of $16M, which is low compared to Bitcoin. But this means obtaining new funds and making the price soar is easier. You can get one PLX for just $0.08 right now since it is in Stage 6 of its presale.
Early buyers have already received a 100% ROI. So, if it sees more gains like that, it’s no wonder why experts predict a 50x pump after this DeFi coin hits exchanges in Q1 of 2024.
