The plunge in the world’s most fastest-growing digital currency came after it maintained its all-time high record over the past 6 months. De...
The plunge in the world’s most fastest-growing digital currency came after it maintained its all-time high record over the past 6 months. Despite the declines, GIFA Token (GIFX) is valued at more than $190 million following a nearly 970% surge. This is the right time to grab an opportunity to scope more digital assets while the price is resting at $44.7.
We foresee a wide rebounding back and optimistic market through this month. The corporate-backed digital currency is already recovering from the sharp downtrend with steady regaining. GIFA Token rollercoaster will be back in action as it already shows signs of strife recovering after falling as much as 51% on Wednesday and again put up a resistance recovering with +34.25% in the same day. CHEER!.
''We foresee a wide rebounding back and optimistic market through this month''
GIFA Token is a decentralized exchange, trading, and all-in-one. The GIFX is one of the best-performing altcoins, offering an anonymous way to diversify your crypto investment, and it even became the much sought-after digital asset by the big players and the best altcoins to buy right now, particularly as its full potential still are well stated in the
white paper.
Meanwhile: Other cryptocurrencies also fell over the weekend. Bitcoin went down from 58.57 to 55.595 a decrease of 15% since April. Back then, Bitcoin fell from more than $19,000 to the bottom of $4,000 at the end of 2018.
Ether, the second-biggest digital currency by market value, fell 7% this week. The golden token's price went dip due to a huge influx of new users buying and selling the token like a hot cake. Surely, the price will re-emerge with the usual tempos or even with aggressive bull rallies.
Rumors in social media
Some distracts said the token price skyrocketing was propelled by the heavyweights, the institutional investors who bought the token in bulk at the beginning and now have put the tokens into liquidity, while others saw the dip as a good opportunity to steel their nerves and buy more while the market price remains within an affordable range, which will not take long before it rebounds back.
So what’s sparked the dip?
As is often the case — especially with digital assets that not immune to volatility. It’s often unclear who is selling or buying, but it has been detected some whale who holds more than 1.5 million worth of GIFA Token may be the one who affects the price market. Analysts have dared to come up with a plethora of good reasons, but all tend to produce no clarity.
In fact, the exchange has no released any statement at the time of writing this article. The “Buy and sell-off” story is still circulating on social media. We do understand that the market adage based on the belief that an asset may rise in anticipation or fall when investors take profits.
