TLDR:
- The Bitcoin price has surged past $48,000, forcing a crypto market recovery.
- 23% of Cardano holders have not sold ADA in five years in anticipation of a massive rally.
- Over 174 million NUGX tokens have been sold in a few weeks as analysts forecast a 25x surge.
Since spot Bitcoin ETFs were approved, the cryptocurrency market has experienced significant sell-offs. However, the market has started to trend higher as the sell-offs have slowed down, and is leading the pack Bitcoin, soaring beyond the $48,000 mark.
Similar optimistic views have also been shown by Cardano (ADA) and NuggetRush (NUGX). These altcoins are currently being stacked by investors in expectation of a major price pump. Continue reading to learn more.
Bitcoin (BTC) Surges Past $48,000 As Sellin Pressure Slows
The approval of spot Bitcoin ETFs earlier in the year came with an unexpected wave of sell-offs. As the selling pressure increased, the Bitcoin price tumbled to as low as $38,700. However, in the past week, the selling pressure has slowed down, leading to a massive price run.
The price of Bitcoin has jumped above $48,500, a 10% increase in the last week. There are forecasts that the price of Bitcoin may increase significantly during the next few days. According to technical indicators, Bitcoin can reach $50,000 since it now trades above the $45,000 support level.
Furthermore, the on-balance volume (OBV) signal indicates the potential for an increase. According to Trader Tradigate, the price of Bitcoin increases parabolically every time its OBV forms an ATH. With this most recent ATH formed, Bitcoin could look to top $50,000 and potentially $60,000.
Investors Stack NuggetRush (NUGX) Tokens Ahead of Price Surge
With Bitcoin leading the way, market analysts expect the rest of the crypto market to follow suit. One of the top crypto coins that has seen a surge in interest from investors. In the past few weeks, over 174 million NUGX tokens have been sold as investors anticipate a major price surge.
GameFi, play-to-earn (P2E), and non-fungible tokens (NFTs) are all combined into one ecosystem on the NuggetRush platform. The DeFi project is built around a mining world but has caught the attention of investors for doing things differently from other blockchain games.
The objective for players is to establish their own mining operations, assembling groups of other players and equipment in search of gold and other precious minerals. The game allows players to win prizes and an entertaining gameplay experience. The rewards are not just virtual; they can be swapped for real gold and the ERC20 coin of the platform NUGX.
This unique move from NuggetRush has sparked massive interest in the project. Already in its cryptocurrency ICO, NUGX has increased by 80% to trade at $0.018 per coin. However, as the project prepares to launch later in Q1, analysts have forecasted a 25x price surge for NuggetRush.
23% of Cardano Holders Have Not Sold Their ADA in Five Years
Cardano (ADA) has been one of the top altcoins thanks to its scalable network and strong research team. While it has underperformed the crypto market in recent months, recent data suggests that investors still remain bullish about its future.
IntoTheBlock has reported that in the past five years, more than 23% of all ADA holders have not sold a single ADA token. Many of them are optimistic about Cardano’s future. While the altcoin price has increased above $0.500, many investors anticipate a surge above $1 before the year ends.
In a Nutshell
The recent surge in the price of Bitcoin has been mirrored by the rest of the crypto market. With the market trending upwards, ADA and NUGX are looking like the best altcoins investors can add to their portfolios for major gains.
