Crypto investors need to buckle up. All market fundamentals point to 2024 being up only. The Bitcoin ($BTC) hash rate has spiked, with miners deploying enormous processing power, indicating belief in future profits, and the balance of $BTC on exchanges continues to drop.
Users taking $BTC off exchanges is one of the most bullish signals. They have no intention of selling in the near term. Bitcoin has a clear path to $40,000 by December. Altcoins have no plan of losing to $BTC, and presales are soaring. Galaxy Fox ($GFOX) has been noted as an excellent crypto for beginners, and its passive income provision has seen this new presale is set to exceed $400,000.
Galaxy Fox ($GFOX) Shoots Past $400,000
Galaxy Fox has been one of 2023's best-performing ICOs and has already shot past $350,000 in its presale. This incredible momentum hints that $GFOX is the best cryptocurrency to buy now and could become a 100X superstar in 2024.
This play-to-earn token features an addictive runner game and pays out prizes to the top 20% of the leaderboard each season. However, the staking program and $GFOX's deflationary tokenomics have been the critical factors in its early success.
The Stargate module is Galaxy Fox's rewards hub and where all $GFOX token holders go to start earning passive income. Stargate accrues 2% of all buy and sell taxes across the ecosystem and pays these out to stakers. Seasoned traders have participated aggressively due to a lack of inflationary pressures on the native token $GFOX.
Typically staking rewards come in the form of token emissions, increasing the total supply and putting downward pressure on price. Galaxy Fox's staking rewards come from taxation, creating no inflationary pressure. Add the protocol's token burn, and all stakers are earning yield on a deflationary asset.
This easy-access passive income source is why Galaxy Fox is an ideal crypto for beginners, and its location in the GameFi narrative has led analysts to forecast potential gains of 4,100% before the end of 2023. $GFOX is one of 2023's hottest presales, and a token investors do not want to miss.
Bitcoin ($BTC) Eyes $40,000 Mark
Bitcoin has performed superbly throughout 2023 and is up well over 100% year-to-date. Investors pulling their $BTC off exchanges implies they expect price appreciation, and with numerous Spot ETF products scheduled to be approved in January 2024, it is easy to see why.
Another leading signal of future institutional capital flows into $BTC is the narrowing discount between the Grayscale Bitcoin Trust and the spot price. This discount marked the start of the bear market, and its closure will mark the end of it.
The bull case for $BTC is overwhelmingly strong amid increasing concerns about the US dollar. Larry Fink described investor interest in Bitcoin as a flight to quality. Analysts expect $BTC to zoom past $40,000 by the end of the year and trade above $100,000 for the first time ever in 2024. Certainly a top crypto to buy now!
Closing Thoughts: Welcome to the Bull Market
Investors still uncertain need to throw off their bearish bias and smell the coffee – the bull market has started. In an up-only environment, the best tokens to hold are small caps, as they print the best multiples.
Galaxy Fox's incredible early momentum indicates an explosive price discovery phase when it launches on the open market. An ideal crypto for beginners due to its staking program and a project gearing up for a 100X run next year. Add this gem to your portfolio by participating in the presale today and enter the bull market in style.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.