Bitcoin rode the bullish wave in early December, rallying above $44,000. However, $BTC has faced severe selling pressure this week, dropping to $41,000. An analyst has advised investors to brace up as the bearish pressure may force the Bitcoin price as low as $36k.
Amidst the selling pressure, the analyst has identified Galaxy Fox ($GFOX) as one of the best cryptocurrencies to invest in now. Let’s find out why he has advocated the shift of funds to this new altcoin.
>>BUY $GFOX TOKENS<<
Bitcoin At Risk of a Drop To the $35k Region
At the peak of the December bull run, Bitcoin ($BTC) rallied to a 20-month high above $44,600. After BTC raked up profits as one of the best cryptos to invest in 2023, investors proceeded to cash out.
As a result, Bitcoin was subjected to intense selling pressure. Due to the selling pressure, the price of $BTC fell as low as $40,000. Despite the fact that Bitcoin is still one of the best cryptocurrencies to invest in, many have stated that it is due for a correction.
@CarpeNoctom explained on the X platform that Bitcoin (BTC) might suffer a drop to the $36,000 range. This is because the daily Kijun line (a primary component of Ichimoku Cloud) suggests a bearish pattern over the next few weeks.
Another analyst has shared the same sentiment. The CryptoKid explained that the last time $BTC formed 8 consecutive bullish candles was in 2017, which led to a 39% correction. As a result, these analysts have advocated a move to Galaxy Fox, one of the top 10 altcoins to buy now.
>>BUY $GFOX TOKENS<<
Galaxy Fox ($GFOX) Projected To Lead the Altseason
Top analyst Michaël van de Poppe has called the beginning of an altcoin bull cycle – an altseason. Galaxy Fox ($GFOX) has been identified as one of the best altcoins suited to lead the altseason. The project has garnered attention for integrating utility into the meme culture.
Galaxy Fox has built an active blockchain gaming ecosystem to function along with its meme coin, $GFOX. This gives its ERC20 coin utility that other meme coins lack. $GFOX and other digital assets will be used to reward players within the game for their domination in the virtual world.
In addition, there is a retail store where purchasers gain points that may be exchanged for $GFOX tokens. Holders can also stake their coins and participate in network governance processes. In exchange, they are rewarded, resulting in a way for Galaxy Fox users to generate passive money.
The Galaxy Fox team has also included a token burn mechanism, which increases the $GFOX token’s long-term prospects. Despite being in the crypto presale, the price of $GFOX has already risen by more than 70%. As a result, the token is now worth $0.001122.
Because of its vibrant and new ecosystem, analysts have projected massive gains for $GFOX. The token has been projected to increase by up to 100x, making it one of the best cryptocurrencies to invest in for the altseason.
In a Nutshell
While Bitcoin faces a decline, Galaxy Fox has been building momentum for the altseason. Already, the project has seen a surge of interest, raising over $900,000 in the process. But it’s not too late to join one of the best ICO presales of 2023 if you get in now.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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