The Bitcoin chart has turned red in recent days. Despite a rally in the last month of 2024, Bitcoin has struggled to maintain upward momentum. How low can Bitcoin fall, and are there other alternatives available right now?
Confirmation of a Declining Trend: Bitcoin Price Rejects $102,000
The price of Bitcoin (BTC) seemed to recuperate by the end of December after a previous decline. Bitcoin dropped from an all-time high of $108,000 to $92,000 within three days.
The bulls managed to push the price back up to $99,000 but faced their first rejection there. In a second attempt, five days later, the price again could not stay above $99,000. However, a week and a half later, the bulls successfully broke through this resistance.
The price managed to rise towards $102,750, but then experienced a substantial drop. This confirms the downward trend, as Bitcoin has created a lower high and is currently searching for a new bottom.
How low this bottom will be remains uncertain. However, around $88,000 lies an interesting area where Bitcoin has previously found support. It is possible that Bitcoin will reach the $88,000 mark in the coming days. If Bitcoin cannot hold at this level, there is another support level around $85,000.
What is the Potential High for Bitcoin Once the Correction has Passed?
Investors are wondering how high Bitcoin can go during this bull run. Experts predict that BTC might even touch $200,000 in this cycle.
Just a few years ago, the idea of Bitcoin reaching a six-figure price seemed far-fetched, but with the recent crossing of the $100,000 threshold, the crypto market has turned a new page.
The surge in Bitcoin’s price over the last few months was largely influenced by Donald Trump’s victory in the U.S. presidential elections. This development is bullish for the crypto market, as Trump has shown a more favorable stance towards the crypto sector. His opponent, Kamala Harris, also seemed to adopt a positive tone regarding cryptocurrencies.
However, investors are more pleased with Trump’s victory, as it might signal potential reforms to the crypto policy that has been restrictive under President Biden’s administration, where Harris played a significant role. A notable example of the hurdles faced by the crypto sector during this period was the legal battle between Ripple Labs and the SEC (Securities and Exchange Commission).
With Trump now elected, clear regulations within the crypto landscape could finally materialize, something companies operating in the cryptocurrency space have long awaited, and this may pave the way for significant advancements.
The outlook for Bitcoin appears very positive. The upcoming year is set to be filled with surprises and excitement. Therefore, keeping a close eye on Bitcoin’s price is essential for making informed investment decisions.
Bright Outlook for Bitcoin: What Can Altcoins Do?
In previous bull runs, Bitcoin has generally dragged altcoins along with it. When Bitcoin rises, altcoins experience upward movement as well; conversely, Bitcoin’s price declines lead to significant drops in altcoins.
In this bull run, the rise of AI is playing a significant role in the crypto market. Altcoins like Render (RNDR), Near Protocol (NEAR), and Internet Computer (ICP) have seen substantial price increases.
They are not the only crypto projects that shone in the last year. Established altcoins such as Ripple (XRP) and Cardano (ADA), which have experienced multiple bull runs, also saw significant gains towards the end of the year.
The year 2025 promises not only good fortune for Bitcoin but could also propel altcoins to new heights.
To make substantial returns, investors are primarily focusing on presale cryptocurrencies. These altcoins have yet to hit exchanges, presenting the opportunity for significant yields.
Wall Street Pepe ($WEPE)
Wall Street Pepe is a brand-new presale that launched at the end of last year. The developers of this meme coin aim to push the big crypto whales out of the market. Crypto whales manipulate altcoin prices, leading to losses for smaller investors.
By building a large community of retail investors, Wall Street Pepe aspires to defeat these crypto whales. The presale has already generated over $47 million from the sale of the $WEPE token.
The hottest trend this season? Wepe bags.
pic.twitter.com/TB9WmFnrjw
— Wall Street Pepe (@WEPEToken) January 11, 2025
Besides defeating crypto whales, early investors can also stake the $WEPE token, offering an annual yield of over 25%. This is an appealing option for investors looking to hold their tokens long-term.
The $WEPE token can be purchased through the official Wall Street Pepe website using ETH, BNB, USDT, or credit card.
Visit the Wall Street Pepe Presale Now
Solaxy ($SOLX)
Solaxy is a new presale that has recently opened its doors. The project features a layer 2 blockchain operating on the Solana blockchain. By processing transactions from the Solana blockchain, Solaxy is one of the first layer 2 blockchains enabling meme coins to trade at record speeds.
During the Solaxy presale, the $SOLX token is being offered, which represents the core of the crypto project, allowing holders to execute transactions at low fees.
Since launching the presale, over $10 million has already been raised from early investors, indicating that the presale is a massive success, and the token has the potential to multiply its price multiple times.
The $SOLX token can only be purchased via the official Solaxy website using ETH, BNB, USDT, or credit card.
Best Wallet ($BEST)
Are you interested in the altcoins mentioned above but lack a crypto wallet? Then Best Wallet is a suitable candidate for your crypto wallet. This crypto project focuses on creating a reliable and anonymous crypto wallet, ensuring safe online transactions.
To conduct transactions in the wallet, it is best to use the $BEST token. This token will be sold during the Best Wallet presale and allows users to enjoy the lowest transaction fees and the fastest transaction speeds.
Over $7M and counting!
The Best Wallet ecosystem is growing at lightning speed. Tools, rewards, and exclusive alpha—it’s all happening right here!
Don’t miss this chance to get in early.
Join now
https://t.co/he5kzraFJw pic.twitter.com/xvqTasOR8R
— Best Wallet (@BestWalletHQ) January 13, 2025
The presale of Best Wallet has quickly raised over $7 million. This is partly due to the fact that the $BEST token can be staked for an annual yield of 269%.
The $BEST token is available for purchase only through the official Best Wallet website. You can easily acquire $BEST using ETH, BNB, USDT, or credit card.
