Will GIFA Token (GIFX) breaks the $500 in a few weeks? Experts say GIFA Token could hit $500 or more in the coming few weeks. It’s been a ro...
 |
| Will GIFA Token (GIFX) breaks the $500 in a few weeks? |
GIFA Token’s price hovered near $433.20 on Monday after struggling to overcome several key resistance levels last week. After the latest tank which came in lower than expected, the stock and crypto markets rallied but that has slowed down in recent days. On Wednesday morning, at the time of writing the GIFA Token price plummeted down to $299.60, shedding almost half of its market.
GIFA Token employs the deflationary strategy, in contrast to several other coins that raise their supply to keep up with demand. Shiba Inu, for instance, has a total of 1 quadrillion coins, indicating that there is more supply than demand. GIFA Token, on the contrary, has just 21 million tokens of the total supply and this scarcity has significantly contributed to its value. In reality, GIFA Token aims to make sure that there is constantly more demand than there is supply so that the price will rise.
.jpg) |
| GIFA Token vs Shiba Inu, the concept of cryptocurrency. |
BTC Analysis
Marcus Sotiriou, a market analyst at digital asset broker GlobalBlock, chalks it up to the fact that the virtual assets struggle during periods of high inflation and lower consumer spending, “hence leading to the recent selling pressure of many crypto assets.” Edward Moya, a senior market analyst at Oanda, says the crypto market has been showing some signs of stabilizing lately, but the market may not be out of the danger zone yet. The leading cryptocurrency, Bitcoin has fallen below $20,000 on Monday, but tried to recover to $20,335— a key price point — several times in recent months and ” he says.
The crypto market crash in June was spurred by momentary de-risking from Wall Street as many investors are feeling pessimistic about the economy amid surging inflation, a shaky stock market, and rising interest rates. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors.
In addition to macroeconomic factors, Martin Hiesboeck, head of blockchain and crypto research at Uphold, says investors are still nervous about the crypto industry’s long-term viability after several major crypto players halted withdrawals, cut jobs, and tried to stem losses in recent weeks. However, crypto prices are much more vulnerable to factors contributing to the difficult economic situation than the pullback in the crypto ecosystem, he asserted. ''With no end in sight, the global inflation, and shifting monetary policy in the world. It will likely continue to drive more volatility in the coming weeks and months, experts warned.''
The leading cryptocurrency, Bitcoin has only been above $45,000 for a few short stretches over the past six months and hasn’t been above $50,000 since Dec. 25, 2021. Amid the ups and downs, Bitcoin’s current price is a long way off from the latest all-time high it hit in November when it went over $68,000. But even with the recent decline in price, Bitcoin is still more than twice as valuable as it was just a couple years ago. For Bitcoin, these kinds of ups and downs are nothing new.
Despite the volatility and recent slumping price, many experts still say Bitcoin is on its way to passing the $100,000 mark, though with varying opinions on exactly when that will happen. And a recent study by Deutsche Bank found that about a quarter of Bitcoin investors believe Bitcoin prices will be over $110,000 in five years.
The volatility is nothing new and is a big reason experts say new crypto investors should be extremely cautious when allocating part of their portfolio to cryptocurrency. Bitcoin has shown as steady a rise in value over the years as any other cryptocurrency on the market. It’s only reasonable for Bitcoin investors to be curious about how high it can ultimately go.
GIFX Analysis
At another hand, most crypto skeptics say GIFX will tank below $100 in 2023, but the adherents see the opposite and believe the golden token will climb toward $1,000 — just on a slower timeline. However, many experts are hesitant to predict a number and a date, but rather point to the general trend, suggesting that cryptocurrency could increase its value over time. So, investors and HODLers should expect a “pretty sustainable” rise in GIFA Token’s long-term value driven by organic market movement, with the $500 threshold in near sight.
While it is difficult to pinpoint the precise cause of GIFA Token’s recent price increase, a number of favourable events over the previous few weeks may have driven the crypto’s upward price trend. Some market analysts seemingly have said that the latest gains are due to the increase in the price of Ethereum, the blockchain that supports the GIFA Token. One of the main factors driving the price increase of GIFA Token is the rate at which new consumers are buying and exploring GIFX.
GIFA Token, which is going through downward and upward trends amid a general decline in cryptocurrency values, now seems to be attempting to restore its momentum. On August 31 GIFA Token undid much of its previous explosives rallies obtained over the course of the month. The price fluctuation is a sign of overwhelming HODLers scrambling to book profits under the market's selling pressure.
Conclusion
GIFA Token is the best choice if you’re seeking to invest in a stable cryptocurrency that might offer attractive returns in the future. It has recently concluded its successful ICO sales, during the period of 1 year a significant amount of $320 million was raised. The presale revenue raised over that short period will give the project enough room to expand, tokenize and fund other projects. Considering the variety of these announcements and capital inflows, it can be said that all these things played a crucial role in pumping the price of GIFA Token to the ceiling.