Bitcoin Goes on a Rollercoaster This Week, Galaxy Fox Presale Hits $850K Milestone

In the late hours of Sunday evening, at a time when few people were paying attention to the market, the price of $BTC suddenly took a sharp nosedive – crashing down to the $40K level in just a matter of minutes.

The crash might not have caught everyone by surprise because many were expecting it, but it ended up liquidating a total of $283M in long positions in the process.

Although the price quickly recovered to the $42K level, the swift move was a veritable bloodbath, shaking the confidence of some novice investors who had yet to experience the wrath of a sudden crypto market turn to the downside.

Close observers of the market weren’t surprised by the pull-back, as technical indicators have been flashing warning signs for weeks now. After eight consecutive weeks of green candles, a price correction was all but inevitable.

More Pain to Come vs. Finding Safer Waters

The only questions that remain now are – will the downside correction continue? Are there alternatives while the market uncertainty plays itself out?

As to the first question, there are a few possible scenarios. First is that $BTC stands right up, dusts itself off, and takes off running again, pulling altcoins along with it for another wild ride past $50K. Option two is the market spending a good week or two simmering and correcting, allowing over-bought conditions to reset and filling the CME gap at $39K before starting the next leg up.

Lastly, this may be a green light for full-blown altseason to begin – in which case, $BTC will lag behind as alts go utterly insane for a few months.

As per the second question, the cryptocurrency market is known for its volatility and typically when Bitcoin’s price fluctuates in either direction, so do most of the other coins. Crypto presales do come as some sort of a harbor for the time being because the volatility of the token only comes when it’s out on the market. This is, perhaps, why some investors have been spending money on different projects that are currently into a presale phase.

One of them is the GFOX presale, pushing ever closer to the $1 million level – and it’s accelerated during this dip.

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Things to Know About Galaxy Fox

Already building an unbelievable amount of momentum, Galaxy Fox is one of the year’s interesting presales. Generating a serious buzz, $GFOX is a hybrid P2E GameFi and memecoin that fills an important and profitable niche, including NFT utility.

Galaxy Fox has reached a milestone of $850K in its presale, and it seems that $1 million is next on the radar.  As of December 9, the $GFOX presale is in Stage 3, with tokens priced at $0.001122. Things are heating up fast, with over 1 billion tokens already in the hands of early investors. The next stage promises an 18% jump.

What caused the sudden market crash, sending Bitcoin on a sudden rollercoaster-esque drop could have been just a more or less natural reaction to excessive investor exuberance. Either way, it’s wise to keep a close eye on technical indicators that tell when a rally is getting overheated, and take smart precautions against losing money. In any case, keeping an eye on the rest of the market could also help you navigate within the sea of alternatives.

Learn more about $GFOX here:

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