Bitcoin Drops Below $26,000, Investors Are Eyeing Stellar ($XLM), Borroe.Finance ($ROE), and Dash
Bitcoin ($BTC) has dropped below $26,000 as more uncertainties rock its market. On the other hand, Stellar ($XLM) is showing signs of recovery while Borroe.Finance ($ROE) is gaining popularity after offering huge gains in its presale. But, Dash ($DASH) keeps dropping amid intensified selling pressure. Will all these cryptocurrencies find the strength to compete with Borroe.Finance?
Bitcoin Slides As Bears Dominate the Market
Bitcoin’s ($BTC) value threatens to drop below the $25,000 mark.
On September 11, 2023, Bitcoin ($BTC) dropped to $25,001. That meant Bitcoin ($BTC) broke away from its previously stable range between $25,500 and $26,500. This downward movement raises concerns about Bitcoin ($BTC) possibly dropping into the sub-$20,000 zone. Nevertheless, some optimism persists for the potential resurgence of Bitcoin ($BTC).
Unfortunately, Bitcoin’s ($BTC) recent price decline pushed down several key metrics. The current Bitcoin ($BTC) market is characterized by low liquidity and trading volumes.
The historic lows in volatility, liquidity, and on-chain volumes could potentially attract many Bitcoin ($BTC) sellers, particularly around the $26,000 zone. This price represents a break-even point for many short-term buyers. Bitcoin ($BTC) is highly volatile, and analysts expect it to drop to $23,500 before rebounding to reach $35,000 by the end of 2023.
Stellar ($XLM) Shows Signs of Recovery
On July 13, 2023, Stellar’s ($XLM) price breached a major resistance, causing a drop that persisted until August 17. Stellar ($XLM) dropped to lows of $0.1050. Subsequently, Stellar’s ($XLM) price rebounded, generating a substantial recovery and validating the support level at $0.1100.
Amid the bearish market, Stellar ($XLM) demonstrates remarkable resilience. Stellar ($XLM) recently broke through the $0.1200 resistance and held onto its gains. Notably, Stellar ($XLM) has stood out against the bearish sentiment affecting Bitcoin and other top cryptocurrencies.
Stellar’s ($XLM) current price reflects a growing interest in its payment solutions and creates anticipation for an intriguing announcement scheduled for September 12. Analysts expect Stellar ($XLM) to keep rising to end 2023 at $0.1385, powered by developments on its network, making it a good crypto to buy today.
Borroe.Finance ($ROE) Dominated the Crypto Space
Borroe.Finance ($ROE) is the pioneering global Web3 blockchain marketplace. Notably, Borroe.Finance specializes in the issuance of non-fungible tokens (NFTs) for invoice discounting.
As a decentralized fundraising platform, Borroe.Finance ($ROE) empowers Web3 participants and businesses to efficiently generate capital by trading their expected future earnings.
Borroe.Finance lets users convert upcoming subscriptions, royalties, invoices, and digital payments into NFTs. These NFTs can then be offered at discounted rates to Borroe.Finance’s supportive communities. Furthermore, investors can resell these NFTs on secondary markets powered by a robust peer-to-peer system. Thus, they are the best NFT to buy currently.
At present, $ROE is in Stage 1 of its presale, priced at $0.0125 per token, with over 80 million tokens already sold. At the end of the presale, $ROE will enter the mainstream cryptocurrency market valued at $0.0400. Hence, $ROE is the best crypto investment in 2023.
Dash ($DASH) Is Sliding As Selling Pressure Increases
On June 23, 2023, Dash ($DASH) underwent its halving, reducing the block reward to 2.3097 $DASH at block height 1,892,161 as part of its four-year halving cycle. Following the event, DASH’s price enjoyed a 9.6% increase from $32.95 to $36.10 by June 27.
However, this $DASH momentum faded by July 6, resulting in a 5.7% price drop from $35.07 to $33.06. Dash’s bearish trend persisted throughout July and into August, pushed by reduced interest in the token.
Eventually, the drop resulted in a 14% loss between July 6 and August 16, with a closing price of $28.41. Analysts expect $DASH to drop to $22.05 by the end of 2023, pushed by the dominant bearish trend and selling pressure in its market.
Learn more about Borroe.Finance ($ROE) here:
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Filed under: Bitcoin - @ September 15, 2023 6:00 pm