Since its launch in 2009, the coin has been the bedrock of market prices. It’s been almost 4 years since the last Bitcoin halving, and investors are anticipating the ripple effects of this process happening in 2024. While previous halvings have always been a catalyst for bull runs, it’s also important to point out that historically there have also always been significant price dips leading into the halving – often volatile moves of 30% or more, which at current prices would knock $BTC down to the mid-$30K range. If this happens, what coin can investors buy as a hedge? You will find the answers thoroughly discussed below.
The Potential Price Fall of Bitcoin
Bitcoin is currently about $52,000, up over 5% from its price last week. This is about 25% ahead of its price in January 2024. Analysts have speculated that much of this price jump is due to the halving.
The last halving was in 2020, and based on previous market statistics, Bitcoin halvings occur every 4 years. You can think of Bitcoin halving as the coin’s way of decreasing its availability, thus creating scarcity that will influence its price. Bitcoin halving is literally when Bitcoin mining is cut in half.
Historically, there has usually been price volatility leading up to and after a halving event. Market statistics show that BTC always ends up significantly higher months after halving has occurred. While there are many other factors influencing Bitcoin’s price, halving is generally bullish for BTC. Though Bitcoin’s halving is predictable, there’s still always a market frenzy around its halving period.
Bitcoin currently has an inflation rate of about 2%, which will decrease with further halvings and subsequently increase its price. This projection is contrary to speculation in 2023 that $BTC will dip to about $37k. According to these speculations, $BTC was going to drop by 2.17% by February 2024. However, the analysis of the technical indicators suggests that the current market sentiment for Bitcoin is 26% neutral/bearish, with a Fear & Greed Index score of 72. Over the last 30 days, Bitcoin has had 67% green days and 8.56% price volatility. This suggests a progressive price movement towards the halving. However, if you’re still not comfortable with the price prospects of Bitcoin, $GFOX is an excellent alternative.
Is $GFOX the Best Hedge Coin?
$GFOX is Galaxy Fox’s play-to-earn token. The token has gained popularity due to its utility and potential passive income from staking, playing unique games, and participating in the token’s presale. As of today, investors have purchased over 90% of GFOX’s presale tokens, raising over $3 million.
With its steady progress, analysts are confident in Galaxy Fox’s unique hybrid design and tokenomics model, and they have predicted a major price jump upon its listing on a DEX. The benefits of $GFOX on a DEX include exposure to the growth of GameFi and memecoin, strengthening the token’s burn to ensure a constantly reducing supply that increases its demand and price.
$GFOX also has potential price benefits for its NFT token holders, who will have access to its 3,000 NFT tokens. Talk about limited supply and premium passive income.
The GFOX token is currently at Stage 8 and is worth $0.002178 per token, with a potential 100x price increase upon its launch on any DEX. $GFOX has become the backbone for various transactions and activities in the Galaxy Fox, and its presale model is designed to increase the profit of early investors. The platform’s current prelaunch price is relatively low, which is an opportunity for early investors to potentially benefit from its projected growth to cross the $5 million mark by Q2 2024.
$GFOX is an ideal hedge coin because of its price appreciation potential and utility. The token’s unique hybrid design and tokenomics model, play-to-earn features, and potential listing on DEX are clear indications that the coin will be here for a long time. It is also certain that its steady price progress will continue.
Final Thoughts
With its price trend in the past week, the history of Bitcoin halving is about to repeat itself. Investors can expect more bullish outcomes for BTC. However, it is not clear how far the coin’s price will go in the coming weeks. If you prefer more concise statistics and price predictions, then, $GFOX is your go-to memecoin. With its potential price surge, utility, passive income, and growing community, $GFOX is your sure bet to make huge profits. With its current decent market price, there is no better time to buy GFOX than now. Join the league of smart investors today.
Learn more about $GFOX here:
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