Bitcoin closed April with a 14.76% price correction, something that hadn’t happened since November 2022. Is it because the Halving didn’t sit well with the crypto sector? Not so fast. We are still within phase 4, the post-halving reaccumulation phase and prior to the parabolic uptrend (we’ll leave a link at the end so you know what we’re talking about).
Beyond that, it seems like a good season is brewing for altcoins, and there are already indicators starting to show it. Oh! Speaking of alts, do you know the latest news about GFAL, the token that was launched on Bit2Me Launchpad? Keep reading to find out.
Powell speaks; the market moves
It never fails. When the president of the US Federal Reserve speaks, two things can happen: the market goes up, or it goes down. And this week, it’s been the latter.
Following poor US CPI data in the first quarter, Federal Reserve Chairman Jerome Powell has hardened his tone and distanced prospects for rate cuts that the central bank itself was anticipating just a month and a half ago. The money will remain at a rate of 5.25%-5.5%, the highest in 23 years.
Additionally, we are in the post-halving phase 4, with more Bitcoin supply than demand, so the crypto market can drop as we are seeing.
Now that we know the reasons for these movements with the 10% drop in the price of Bitcoin, we ask ourselves: Is this the best time to seize the opportunities?
Is the ‘altseason’ approaching?
We don’t say it, the statistics do. Gas fees on the Ethereum network; that is, the fee paid for a transaction, are at their lowest level in six months, hovering around a dollar for the fastest ones. What does this mean?
According to Santiment analysts, it could indicate an upcoming surge in altcoins. “The lack of demand and tension on the network can help ETH and associated altcoins sooner than many may expect.”
And you, are you ready for what’s coming on Ethereum?
GFAL raises $3.3 million
It’s time to celebrate. GFAL, whose token was launched on Bit2Me Launchpad and sold out in just 14 seconds, has ‘raised’ $3.3 million in an investment round led by Supercell, known for hits like Clash of Clans, and Mitch Lasky, an experienced investor in the gaming industry.
GFAL has had great success with its mobile game Elemental Raiders, which has demonstrated the company’s potential to create a large community and offer real utility to its token. With the injection of capital, the company plans to continue improving Elemental Raiders and launch other innovative titles in the near future. Congratulations!
