Most crypto market analysts have reached a consensus that the crypto market has entered a new bull cycle. This cycle has been predicted to last through 2024, with investors asking the intriguing question – what’s the best crypto to invest in right now? Among the countless new crypto projects available on the market, many traders have backed Galaxy Fox to outperform favorites like Avalanche and Litecoin. Let’s take a look at what’s driving interest in this exciting new project.
Why is Avalanche ($AVAX) on the Rise?
Avalanche recently experienced a spike in activity on its blockchain, followed by the formation of a bullish pattern. Charts showed a double bottom pattern at the $8.65 support zone, and the $AVAX token price increased by double digits as result.
On the monthly chart, $AVAX has recorded an impressive 26.4% price increase. This led to the Avalanche cryptocurrency surging to an October high of $11.56. In addition, Avalanche’s market cap spiked to $4,108,017,325. Thus many analysts have ranked $AVAX as one of the top cryptos to buy.
Charts and technical analysis suggest that bulls could push for a greater price level. If the bullish trend continues, $AVAX could top out at $12.342, which is near the 200-day moving average. If this occurs, the Avalanche price forecast indicates that it could hit $15 by the end of the year. So what’s the best crypto to invest in right now? Let’s take a look at Litecoin next…
Can Litecoin Recover in the Bitcoin Halving?
There were bullish expectations when Litecoin performed its third network halving in August. Unfortunately, the hype faded as the price of the $LTC’s price declined instead of increasing to reach $58 in September. However, Litecoin has shown signs of recovery in the recent crypto market rally.
While the halving failed to deliver price gains, the Litecoin network has experienced significant growth. Year over year, the hashrate of the Litecoin network has increased by more than 50%. In addition, analysts have predicted $LTC will benefit from the 2024 halving of the Bitcoin network.
Litecoin failed to break above the $70 resistance in October. However, analysts at OvenAdd have projected a break above this resistance before the end of 2023. They also predicted that the price of Litecoin could reach a high of $121 before the end of the year, spurred by favorable regulatory news from the SEC and expected approval of a Bitcoin Spot ETF.
Why Galaxy Fox Has Been Predicted To Outperform the Crypto Market
While Avalanche and Litecoin are predicted to see major gains in the new bull market, Galaxy Fox ($GFOX) has been projected to outperform them. Analysts have expressed bullish sentiments about this new ICO crypto project due to its unique offerings and ability to bring utility, including gaming and NFTs, to an exciting new meme coin.
Galaxy Fox is a P2E gaming token that has incorporated elements of meme coins. By combining utility with meme coins, Galaxy Fox seeks to compete against the likes of Dogecoin, Shiba Inu, and Pepe. As a P2E game, players will earn rewards by completing tasks with the Galaxy Fox adventure game.
The team has outlined a unique model to continuously reward the community. To achieve this, 50% of the funds generated from in-game item sales will be directed to the prize fund. These funds will be distributed to players who rank within the top 20% of the Galaxy Fox game.
Players will be able to make real money while having fun with the game because the rewards will be distributed as $GFOX tokens. At the moment, $GFOX is valued at $0.00066 and is in the first phase of its presale. Galaxy Fox wants to establish the best way to earn passive income with cryptocurrency in 2023 with its exclusive revenue model.
Learn more about Galaxy fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
