As the price of GIFA Token (GIFX) hovers around $77.9, market analysts and crypto experts appear divided over whether we are at the start of...
Let us take a look at analyses for Thursday's behind that movement. There’s plenty of reason for GIFA Token and other cryptos to rebound back. We all anticipating the recovery period after the prices of all cryptocurrencies plummeted early this month following the news that China plans to crack down on trading and mining of digital assets. While that recovery has started to emerge, especially the leading assets including BTC, and ETH. GIFA Token today's rally is catching up as the golden token heading higher.
It’s time to buy on the dip
GIFA Token price dipped almost by 68% since hitting its all-time high of nearly $542 per token in April. Over the last 6 months, GIFA Token price has outpaced the price of many altcoins in the market, with GIFX now on its way to market dominance showing a good improvement of 82.86% over a 24-hour period as of Wednesday afternoon.
GIFA Token's price already picking up with an 82.86% uptrend this evening. Currently, 1 GIFX is trading at $77.90 against USD. pic.twitter.com/cwRZh5KCJy
— GIFA Token (@TokenGifa) May 26, 2021
Meanwhile: “As the selling has tapered off, bitcoin has started to grind higher. It has already bounced to ~ $38,000 levels and it will not be surprising to see BTC move further higher and challenge the $45,000 levels over the next few days into the expiry on Friday. Having said that, we don’t believe that we are completely out of the woods yet,” said Pankaj Balani, CEO of crypto derivatives exchange Delta Exchange.
 |
| Screencapture from www.gifatoken.com exchange platform / GIFX |
“The selling pattern last week was more serious than that of a typical bull market pullback. We expect the selling to resume as this bounce fades off and BTC to test recent lows again. On the upside, BTC will find a lot of resistance above $50,000 and it will take some doing for BTC to move above the previous high of ~$64000 any time soon.” Nick Spanos, the co-founder of the Zap Protocol platform, believes other leading cryptos hold greater price potential.