Eleven Bitcoin exchange-traded funds (ETFs) have received approval from the U.S. Securities and Exchange Commission. This has made cryptocurrencies more accessible to a large number of novice investors who might not want to go through the additional steps required to buy Bitcoin. Top altcoins like Avalanche and Pullix have surged in value after the announcement.
Bitcoin (BTC) Price Prediction
In a recent tweet, crypto expert Michal van de Poppe sparked a wave of excitement in the crypto industry by forecasting a significant increase in Bitcoin price. This prediction follows the SEC’s approval of several spot Bitcoin ETFs.
According to the analyst, the range has been outlined, with the Bitcoin price reaching $48K. He stated Bitcoin could revisit this level due to the deal flow related to Bitcoin ETF approval.
Van de Poppe is excited about the prospects given by drops in the $36,000-$40,000 bracket. Furthermore, he estimated that the Bitcoin price could reach the $300-$600K area during the current market cycle. Currently, Bitcoin has regained control of the $47k level.
Pullix (PLX) To Rally on Bitcoin ETF Launch and Exchange Launch
Analysts claim that PLX, the Pullix platform’s utility token, has emerged as the best cryptocurrency to buy right now. In addition to its phenomenal price increase, the most recent Bitcoin ETF might increase the asset’s gains even further.
Investors and analysts alike are looking forward to Pullix’s January 2024 launch. Analysts think both developments will have a significant positive impact on the value of the ERC20 token. Let’s examine Pullix in more detail. It is a hybrid exchange that offers its users a lot of benefits.
Pullix aims to be a user-friendly trading platform with a large selection of tradable assets. This platform will change how people trade cryptocurrencies. The cryptocurrency community is also seeing a rise in the popularity of its own coin, PLX.
Owning the ERC20 token is like having a stake in the platform’s success. The more PLX you own, the larger your part of Pullix’s daily income, which means you might make money without doing anything. PLX holders also get access to exclusive features such as NFTs and staking rewards, making their investment even more valuable.
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Pullix’s liquidity provision function is one of its distinguishing features. Users who increase their trading volume on the platform can earn lucrative interest rates ranging from 8% to 18%. An algorithm determines these rates to ensure they are fair. Staking is also available for passive rewards with the $PLX token.
Users can earn a consistent monthly income of up to 18% APR by depositing the ER20 token into the platform’s liquidity pool. All of these characteristics, together with Bitcoin ETF approval, make PLX the best cryptocurrency to buy right now for only $0.08.
Avalanche (AVAX) Price Prediction
The crypto market has reacted to the approval of the Spot Bitcoin ETF, with certain altcoins, like Avalanche (AVAX), experiencing significant jumps. According to CoinMarketCap, the Avalanche crypto price increased 12.6% on Thursday, rising from a low of $33.77 to a high of $39.51.
Nevertheless, Avalanche crypto is yet to clear the 3.2% price drop on the 30-day price chart. The renewed increase has created positive sentiment among investors.
More gains could push Avalanche crypto above the $40 price level. Interestingly, this price surge has pushed Avalanche’s market cap to $14.4 billion, making it the 9th largest cryptocurrency. According to analyst’s Avalanche price prediction, the price of Avalanche is predicted to rise by 8.04% to $42.10.
Final Words
With the latest approval of Bitcoin ETFs, Bitcoin price could begin a massive rally anytime. Consequently, the rally will have a ripple effect on top altcoins like Avalanche and Pullix, who would see more price gains.
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