In the last few months of 2023, the crypto market was rife with anticipation as investors eagerly awaited approval of the first US-traded Bitcoin Spot ETFs. However, as the approval of these ETFs approaches, some analysts suggest that the market may have already priced in this news, and investing in the best meme coin to buy now, $GFOX, is a better investment move.
In this post, we look at why analysts believe that the approval of Bitcoin ETFs may not lead to a significant rally as expected, and why investors are better off adding this new ICO crypto to their portfolios, instead.
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“Buy the Rumor, Sell the News”
Rumors in the crypto market suggest that the SEC will approve Bitcoin ETFs by January 10. However, despite the anticipation, there is still no convincing evidence that the market will move upwards. There has been little volatility in $BTC prices and the implied volatility of the January 12 options, which are linked to the Bitcoin ETFs, saw a decline.
As a result, market analysts suggest that the market has already factored in the news of the approval of Bitcoin ETFs, lowering the possibility of making substantial returns once the approval is finalized. Some crypto industry leaders, including Cathie Wood of Ark Invest, have said that the $BTC Spot ETF announcement will be a classic “buy the rumor, sell the news” event – much like the Facebook IPO of May, 2012 where price closed a mere $0.23 cents above the IPO price despite many analysts forecasting gains of 200-300%.
Even worse, many analysts believe the $BTC price could in fact take a major dip on the day of the ETF announcement as whales manipulate the market – something that wasn’t so easily possible on TradFi platforms like the New York Stock Exchange (NYSE).
These predictions have led many investors to seek out the top cryptos to buy right now that are expected to keep rising in early 2024. One of these coins is presale star $GFOX.
$GFOX, The 100x Coin You Should Buy Right Now
$GFOX is the native token of an upcoming cryptocurrency project Galaxy Fox. The coin, despite being relatively new to the market, has caused quite a stir with its sky-high growth potential and unique features.
Investors view $GFOX as the best meme coin to buy now mostly because of how different it is from run-of-the-mill meme coins. The project isn’t just focused on becoming internet famous and relying on speculation for growth. Instead, it offers solid features that enhance its investors’ lives while also giving them numerous options to make a side income.
The most prominent feature of the Galaxy Fox ecosystem is its Web3 game. This game leverages the P2E model, allowing gamers to enjoy thrilling gameplay while also receiving monetary rewards. Rewards are distributed at the end of each gaming season to the top 20% of players on the leaderboard.
$GFOX investors can show their loyalty by staking their tokens. In return, they receive staking rewards in the form of $GFOX tokens. Staking rewards are paid out from Stargate, which collects 2% of every $GFOX transaction to create the pool of funds used to reward loyalty to the $GFOX project.
Another feature that makes $GFOX the best meme coin to buy now is its token burn feature. The feature is designed to periodically remove a portion of $GFOX tokens in circulation. This reduces the circulating supply of the token, which enhances its intrinsic value. This feature will ensure that $GFOX remains a valuable token that continues to give returns to its investors.
Unlike most cryptocurrency projects, Galaxy Fox does not limit itself to the blockchain world, true to its mission, the project infiltrates the everyday lives of its investors by offering unique collectibles and clothing items. This is in addition to the collection of 3,000 NFTs that will soon be released on the Galaxy Fox website. Releasing a collection of merchandise will ensure that the $GFOX project will become a well-known brand in no time, helping to enhance its value in investor’s eyes.
$GFOX is already in the final half of its presale. At stage 6, the project has sold over 2 billion tokens, raising an impressive $2.16 million. With only a handful of tokens left for purchase, it’s time to get yourself the best meme coin to buy right now if you haven’t already done so.
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Final Word
Although some analysts are now skeptical of a major rally in early 2024 resulting from the approval of spot Bitcoin ETFs, making predictions like these can be difficult, and only time will tell. However, as an investor, it’s better to diversify your portfolio and always expect the unexpected. Smart investors shouldn’t be surprised if $GFOX outperforms $BTC – a low cap presale coin that’s far more likely to see a 50X return in 2024.
Learn more about $GFOX here:
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