As Bitcoin (BTC) surges through the $50,000 level, the community speculates how high the cryptocurrency can go this year. But the prospect of a new ATH isn't the only exciting news in the crypto world — Pullix (PLX) has just completed the development of its highly anticipated trading platform, setting the stage for its upcoming token launch. Let's dive into both topics and explore what they mean for the future of crypto.
Bitcoin has rallied from the 2023 lows of under $15,000 to over $52,000 today as investor confidence soars. Such a dramatic climb has many wondering if Bitcoin can continue its ascent and break new records in 2024.
It's worth pointing out that a 33% gain from today's price would push it over an all-time high of around $69,000. With a 15.30% in the last week alone, many experts believe Bitcoin could easily surpass these levels in the coming months.
The Bitcoin surge in the last year can be attributed to the SEC's approval of a Bitcoin ETF, with roughly $250 million daily inflows into the fund. Such significant demand, combined with the limited supply of Bitcoin, is driving prices higher weekly.
While the ETFs are incredibly bullish, other factors favor Bitcoin's long-term growth. For instance, the upcoming Bitcoin halving in 2024 is set to reduce the miner reward from 6.25 BTC to 3.125 BTC per block, which would further decrease the coin's supply.
Moreover, Bitcoin is being increasingly viewed as a hedge against inflation and an alternative to traditional assets like gold. Larry Fink, CEO of BlackRock, recently stated that "Bitcoin is digitizing gold" and sees cryptocurrencies as a hedge against the devaluation of FIAT currency.
With all of these bullish indicators, many experts predict that Bitcoin could reach anywhere between $100,000 ($2T market cap) to $300,000 this year ($6T market cap). Gold has a market cap of $13.50T, so if Bitcoin were to surpass $300,000, its market cap would be less than 1/4 of gold's.
Pullix's platform is designed to bridge the gap between decentralized and centralized trading. It offers a hybrid exchange model that promises enhanced liquidity, superior security measures, and a user-friendly experience that doesn't compromise the autonomy of decentralized trading.
One of Pullix's standout features is its non-custodial approach, ensuring that users retain control over their private keys and, by extension, their assets. There's also KYC-free trading, meaning users can start trading immediately without a lengthy verification process.
Another benefit to using Pullix is the huge array of assets available for trading. While Binance and Coinbase offer cryptocurrencies, Pullix offers forex, stocks, ETFs, commodities, and more. This variety of options makes Pullix an all-in-one trading platform for beginners and experienced traders.
The PLX token is set to redefine the utility of exchange tokens by offering "Trade-to-Earn" rewards, governance participation, and a share in the platform's revenue. This innovative approach incentivizes trading activity and aligns users' interests with the platform's success.
The completion of Pullix's platform development comes at a crucial time when the crypto market is ripe with speculation about Bitcoin's potential highs this year. As new investors arrive in the market, Pullix's hybrid exchange model stands out above traditional centralized exchanges and decentralized protocols.
The ongoing PLX token presale offers early adopters the opportunity to secure discounted tokens at just $0.14 before they are listed on exchanges. With a live platform demonstration available to the public, two trading licenses obtained and listings on both Bitmart and Uniswap, Pullix has the potential to become the next 100x token in 2024.
For more information regarding Pullix’s presale see links below:
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