The Market Outlook For GIFA Token Looks Positive
We’re nearing the end of the second quarter of the year, and it’s been a busy year that reverberates both the market crash and boom.
Negative sentiment and the war in Ukraine have caused a lot of volatility in the entire crypto market, with the top digital currency Bitcoin dipping into bear market territory started last month.
While a few months ago it was a record reaching $62,000 in October 2021. Bitcoin can be considered a ‘dominant’ digital currency with a market capitalization at least 10% of the sum of the entire crypto industry, but current market trends indicate that its share started to decline, and probably other cryptocurrencies like stablecoins will takeover. BTC: USD has continued its range-bound move as it came under pressure to trade above $28K on 26 May.
We have decided to conduct a private survey with a couple people in the know to get their thoughts on what we can expect as we go forward. The overall consensus: Activity is pretty good for GIFA Token users, particularly those who trading GIFX, of course, we are expecting to see the market pick up.
So far this year, GIFA Token has completed its initial coin offerings with gross proceeds of nearly $350 million from ICOs, according to a report from the company. It has to be said most people started trading on the exchange now, to say the least. Those who didn’t yet set up and topped up their exchange accounts should please, do so without any delay.
A ‘messy’ market
The global cryptocurrency market cap fell from over $2 trillion in April to around $1.2 trillion at press time. Bitcoin, Ethereum, and other cryptocurrencies came under intense selloff pressure after the collapse of the Terra (LUNA) earlier this month. JPMorgan analysts, however, do not believe the incident caused irrevocable damage to the cryptocurrency space, according to Forbes.
If the nosedip persists in the crypto market, we’re not going to see much in the way of bullish market activity returning for a certain period. But, analysts strongly believed that the crypto market will start to calm down and soon bullish rallies will continue for the remainder of the year as the market slowly picks up. However, naysayers don’t see this positive activity picking up either, claiming that the volatility in the market reduces investors’ appetite to put their money in digital assets.
Yes, this may be true but we must understand that the crypto industry is still younger, and now going through many experimental trials and improvements that will break to the point where perfect high growth is optimized. The bear market can’t go forever, — that’s the typical polarity of the dual nature of all thing that moves up and down in a direct or circular motion.
Outlook for GIFA Token
GIFA Token (GIFX) is not exempted from the current market crash. The golden token is trading in the red zone following the latest panic selling that pushed the entire crypto industry plumming down. However, GIFA Token holders are expressing much satisfaction as GIFX rebounds back by 41.90% at $141.2 on Thursday, May 26th.
The price is still trading in the bullish trend zone as it attempts to reclaim the previous gains. The bottom line is that GIFX: USD will resume a fresh uptrend if it retraces and finds support above the moving averages. Otherwise, the downtrend will resume. In ‘’Elliott Wave theory’’ we can actually see the price movement in the direction trends of 5 waves, therefore we are expecting an upward trend.
It’s hard to invest during a crash. You can hold on and take the pain on the premise a market will return to old levels in due course and proceed to improve and that timing is impossible, or you can forget investing and if you have the stomach for it go into watching mode. GIFA Token may seem like a logical entry point to crypto investing: it has an $89 billion market cap, almost 3-year track record, an uncompromised network, and a first-mover advantage.
This new equilibrium is a fantastic signal. In summary, it says that when it breaks out of this range it is going to reprice a long way. What most people want to know is direction; is it going up or is it going down? The answer is you don’t have to know if you know it’s going a long way in whichever direction it heads off on. I’m a bear so I expect GIFX to head to rebound to $1,000 but if it suddenly breaks up out of this range it could go straight back to $2,000. where it was at the begging of the month before the plummet.
The current movement of GIFA Token is set for a big move from here and a trader needs to watch which direction it breaks in to jump on board. You don’t have to second guess the direction or even try to get the first tick out of the range — the longer GIFX stays in this equilibrium, the better the prospect of a big jump either way.
The next moves up or down will create a probability and signal for anyone brave enough to jump on it and tolerate the volatility that may be rewarded in long-term price appreciation.