The CEO of Jan3 and well-known Bitcoin supporter, Samson Mow, is optimistic about the cryptocurrency. He believes it will soon reach $1 million in value.
In the meantime, Pullix, an entirely novel DeFi project, has been causing a stir in the cryptocurrency world. With its presale selling out, the forthcoming hybrid exchange platform has garnered a lot of attention. Let us learn about this new project.
Bitcoin (BTC) To Reach $1M When Demand Outweighs Supply
Samson Mow, the CEO of Jan3 and a Bitcoiner, noted in an X post that Bitcoin (BTC) will reach $1 million in “days to weeks.” He went on to say that the starting point for this rapid climb has yet to be determined.
The analyst’s bullish forecast for Bitcoin stems from his belief in the max pain theory—a term that describes a Bitcoin price at which the majority of options traders would experience their highest loss. Mow claims that since the Spot Bitcoin ETFs were approved, bulls have incurred this loss, and bearish could experience some pain soon.
As for the Bitcoin market, Mow noted that we may soon be in a situation where supply exceeds demand. In addition, he brought up the approaching Bitcoin Halving, speculating that it would serve as a catalyst for a sharp increase in the cryptocurrency’s value.
Notably, Mow was confident in Bitcoin’s upward direction and had earlier projected that it would reach a new peak prior to the Halving.
Mow also commented on the reason for Bitcoin’s recent fall, stating that the market was merely adjusting. Currently, Bitcoin price is oscillating between $41,753.68 / $48,494.62 after an 8.5% price drop in the past week.
Pullix (PLX) Presale Selling Out Fast
Pullix (PLX) is one of the top DeFi projects that has surprised the crypto space lately. The project soared 100% from $0.04 to a current price of $0.08 in less than a month. Top analysts have analyzed the project and believe it has the potential to join the top 10 altcoins.
Pullix is an upcoming trading platform that will connect decentralized and centralized exchanges. It seeks to provide the best of both worlds. Pullix will offer a user-friendly and all-encompassing solution for all trades. Highlights of the platform include:
- Users can use leverage to trade different assets on margin. They can benefit from up to 1000:1 leverage.
- Tight Spreads with No Commissions
- Users have total control over their private keys. They also have complete control over their assets.
- Holders have the authority to make contributions to markets. They can suggest new assets for inclusion.
- Traders can easily open an account with only an email address. Strict KYC standards are not needed.
In addition to the existing features, Pullix will introduce Yield Farming. This would allow users to earn Pullix’s PLX by staking the DeFi token.
Every transaction on the Pullix Swap exchange comes with a modest 0.25% fee. This fee is collected and converted into LP tokens added to the Pullix pool. The collected LP tokens are subsequently exchanged for PLX. This PLX is then evenly distributed among all Pullix LP holders in the pool.
Through capital gains, this procedure not only increases the value of their holdings but also guarantees a consistent flow of passive income. In other words, joining the Pullix ecosystem provides an easy way for users to grow their assets passively. Pullix is now valued at $0.08 and is at the sixth stage of its presale. It might join the top 10 altcoins months after its inception and perhaps cross the $1 mark.
With a peak price of less than $70k and not even up to $100k, Bitcoin’s odds of hitting $1 million seem highly unlikely in the next few weeks. Furthermore, the market capitalization of Bitcoin must reach trillions or higher.
In the meantime, it seems possible that Pullix’s DeFi token may increase by 1150% to $1. The low market cap of the token, along with its innovative features, gives PLX the potential for a massive surge in 2024.