While investors and traders thought the storm was over and confidence began to return, another tragedy struck. Bitcoin price suddenly went on a bearish rampage over the past 24 hours, dropping beyond $100,000 at its lowest.
Yesterday’s Bitcoin price drop has caused investors to ask if the $85k forecast is coming into play. Additionally, analysts are recommending two altcoins to investors as a hedge and for potential massive gains, despite the current market conditions. These tokens are Zcash and Remittix.
Where’s Bitcoin Price Headed?
As of the time of this writing, Bitcoin price is $103,800 with no signs of recovery yet. Market watchers believe this sudden drop is driven by the weakening BTC dominance as the alt-season enters full swing.
Earlier, seasoned crypto analyst Ali Martinez reported that whales had booked $272 million in Bitcoin ($BTC) profits.
This announcement signals profit-taking and capital rotation by whale investors, indicating they are attempting to exit before the Bitcoin price further declines. Analysts are increasingly recommending altcoins to investors, as they believe the next new price highs are in altcoins.
Is Zcash Set For New Highs?
Zcash (ZEC) opened at $476.18 and is currently up 22.9%. Analysts are predicting a price drop in ZEC, which could cause the token to revisit its support level at $443.90. If the support fails to hold, $304.32 is possible.
Additionally, note that ZEC has a large market capitalisation of over $7 billion, which limits its potential for a price surge. Let’s talk about Remittix; investors are betting heavily on it, and it’s next in line for a staggering price surge in 2025.
Why Invest In Remittix (RTX)?
Remittix (RTX) is an Ethereum-based PayFi solution that aims to facilitate crypto-to-fiat transfers across more than 30 countries. It leverages local payment networks, DeFi, and blockchain technology to bridge a $19 trillion global payment gap between Web2 and Web3.
Users send crypto converted on the app and deposited directly into their bank accounts in over 30 countries as fiat. It also features a business API designed for freelancers, SMEs, and marketplaces.
Remittix Highlights:
- •Recipients do not need a wallet; it’s fast, reliable, and eliminates FX conversion problems.
- •Remittix has completed a comprehensive audit via CertiK to establish user trust and promote transparency.
- •Beta testing for the Remittix wallet is now live, with community users actively testing it.