Basic Attention Token Price Prediction – What Does The Future Hold For BAT?
With Bitcoin retracing from its newfound highs, the cryptocurrency market has been experiencing a slight slump as of late. While some beginner investors could see this as a discouraging event, more experienced traders see an opportunity.
In fact, many people claim that a booming season is just around the corner, with lots of profits to be made. The upcoming leg-up in the markets could be more significant than anything we’ve seen until now.
One of the coins that might be ready to benefit from this price rally is BAT. With lots of use cases, a large community, and a working product, this is one to look out for. For this reason, we decided to give you an honest and detailed Basic Attention Token price prediction.
After going over the fundamentals, we will analyze the cryptocurrency’s historical price action and provide a speculative Basic Attention Token price prediction using technical analysis.
After reading this post, you should have a good idea of where the price of BAT could go and whether it’s an investment you should consider for the short, mid, or long term. Let’s get started.
Introduction to BAT (Basic Attention Token)
BAT was launched through an incredibly successful ICO that managed to raise $35 million in less than a minute. In total, 1.5 billion tokens were distributed, with 200 million reserved for the team.
What is BAT?
BAT is a token that supports the Brave browser. It was created with the goal to improve and revolutionize the digital advertising industry by rewarding its users with part of the ad profits. Its developers believe that both content consumers and content creators deserve a rewarding, and privacy-oriented advertising ecosystem.
The Basic Attention Token attempts to empower both content creators and consumers. It does this by rewarding them with BAT tokens for viewing digital ads and creating content. Let’s see how this works.
What is the Brave browser?
The BAT token is an ERC-20 token that runs on the Ethereum network and currently operates on the Brave web browser. This browser blocks ads by default and shows them only if the user opts in to view them. Those who choose to view ads, get paid (in BAT) for doing so.
The Brave ecosystem creates value for three different groups:
- The users – or the content consumer, who can sign up for the Brave Rewards program and get rewarded with BAT tokens when they choose to watch ads.
- The publishers – or the content creators, who also earn BATs when users view their ads, encouraging them to create quality content.
- The advertisers– or the brands, which get quality reach from targeted and effective ads.
In a nutshell, the Brave browser allows users, content creators, and advertisers to co-exist in a mutually beneficial ecosystem.
Finally, the BATs allow users to receive rewards without sharing their private information. Users can remain anonymous in an industry where data tracking has become an everyday nuisance. Ultimately, this increases the user’s digital marketing well-being, which is essential for the content-consuming generation.
Latest BAT developments and upcoming updates
Before we delve deeper into our Basic Attention Token price prediction, we need to take a closer look at some factors that could significantly influence its price in the near future.
- Adoption – being first and foremost a utility token, BAT’s value heavily depends on user adoption, publishers, and advertisers. Thankfully, the team has been delivering considerable efforts on the marketing side. This has resulted in a big increase in the popularity of the Brave browser. At the moment of writing, there are more than 25 million active users (9 million daily) and 1 million verified content creators. The team expects these numbers to have doubled by the end of 2021.
- Utility – the utility of the BAT has been expanding beyond the Brave rewards system. Today, popular DeFi protocols such as Maker DAO and Compound accept it as collateral.
- The new Brave wallet – the team is working on a native Ethereum solution for the rewards wallet. This new wallet would replace the current system and offer new functionalities such as DeFi and NFT use-cases. Additionally, it should offer integrated options to buy crypto with FIAT money.
- Binance Smart Chain (BCS) partnership – since March 2021, BAT has joined the growing BSC ecosystem . BAT holders can now use popular swap protocols such as PancakeSwap and participate in yield farming on Beefy.finance.
- Upcoming DEX aggregator in Brave – this update solidifies the team’s desire to expand the DeFi functionalities of the Brave browser. This upcoming decentralized exchange aggregator will allow users to swap tokens seamlessly. It will use both layer 1 and 2 solutions to avoid high transaction fees whenever possible. Furthermore, it will reward users that pay with BAT or hold BAT tokens with discounted exchange fees.
All in all, the most interesting updates are those linked to the support of NFTs and the integration of DeFi.
BAT historical price performance
History tends to repeat itself, especially when the crypto are concerned. Consequently, to proceed with our Basic Attention Token price prediction, we should look into BAT’s historical price action.
Price performance in 2017-2019
BAT entered a parabolic price rally during the ICO craze of 2017, shortly after its release. It followed the overall trend of the crypto market, making incredible +1000% gains in just a couple of months. At its peak, it had reached a new all-time high just above the $1 mark.
However, the bear market that ensued was far from charitable with the utility token. Its price dropped as fast as it had risen, registering 80% losses by March 2018.
During the following year, the candles never managed to break the descending trend, and constantly registered lower highs. However, traders had many opportunities to make profits as each price drop was followed by another +130% rally, allowing for perfect swing trade setups.
The 2019 recovery and subsequent decline
BAT had a great start in 2019. The bear trend was broken upwards in February 2019 and the price shot up 400% in 3 months, reaching the $0.5 mark.
However, the coin couldn’t hold this momentum, and while other cryptocurrencies were experiencing a revival during the summer of 2019, BAT prices entered a steady decline.
Fast forward to the beginning of 2020, where we saw the start of the bull run take BAT prices above the 1-year long downtrend line. However, this rally was cut short by the coronavirus crash. Consequently, candles returned to the $0.1 lows, in conjunction with the rest of the market.
2020-2021 Bull run
Finally, the price entered the current bull run, and reached a new yearly high of $0.4 in September 2020, following the first DeFi boom.
After some consolidation, the momentum picked up at the beginning of 2021, entering a parabolic 800% run. Prices reached new highs at $1.70 in April 2021, a total of 1700% increase since the COVID19 crash.
Since the April highs, BAT prices have experienced a correction and are now neighboring the $1 level.
Following this historical analysis, we can see that BAT is a highly volatile asset, that experiences extreme price variations in the short and mid-terms. This makes it a great coin for scalping and day-trading strategies, allowing for considerable profits day-in, day-out.
Basic Attention Token Price Prediction 2021
The entire cryptocurrency market is in a crucial situation, which could be one of the greatest windows of opportunity in the current bull run.
Bitcoin is experiencing a solid retracement, akin to that in 2017. This 40% retracement was followed by the final rally that brought crypto prices to legendary levels.
Considering the current market technicals, a rebound from the current level is a plausible scenario as the candles are testing a triple-bottom pattern.
By the summer of 2021, we should see BAT prices return to the ATH level of $1.7. If Ethereum leads the market forward as we discussed in a previous article, the momentum could be conserved and take the price of BAT toward new highs towards $2.00.
By the end of the year, we hope to see BAT reach $3.00, an entirely reasonable (for crypto) 300% increase from the current price levels.
With that said, there are two possible bearish scenarios as well:
- The prices fail to rebound from the triple bottom level and break down towards $0.6, and $0.4 targets.
- The candles fail to break out the $1.7 ATH in the summer and BAT prices return to $1 levels.
Even by considering these more negative views, we can still expect BAT to reach $2 by the end of 2021.
Basic Attention Token Price Prediction 2025
Giving an accurate Basic Attention Token price prediction for 2025 is challenging, but there are a few factors that we can take into consideration:
- By 2025, Bitcoin (and the rest of the crypto market) should be in a new supercycle, following the 2024 reward halving.
- BAT adoption should have increased considerably, taking a considerable part in the digital advertisement industry.
With these in mind, we can give the following Basic Attention Token price prediction:
- The market should enter a bearish cycle beginning in the second half of 2022, lasting through mid-2024. We could see BAT reach as low as $1.00 during this bear market, going lower than the current ATH.
- After the new bullish cycle starts somewhere mid-2024, the price of BAT should quickly recover and easily pierce through the previous predicted ATH of $3.00.
- By the end of 2025, a single BAT could be worth around $20.00, nearing a 600% increase since its 2021 ATH.
Basic Attention Token Price Prediction 2030
Considering the volatility of the crypto market, giving an accurate Basic Attention Token price prediction almost a decade in the future might seem unrealistic. However, we can still speculate on some mass adoption factors that could drive the prices of BAT even higher than in 2025.
For instance, we can imagine blockchain technology and DeFi being increasingly accepted by the general public. While it might not replace traditional finances, DeFi could become a serious contender to banks. This should increase the utility of cryptocurrencies such as BAT even further, triggering more incentives for usage.
We should then see an increase in the adoption of the Brave platform, by both creators and advertisers. With scalability on Ethereum becoming a thing of the past, Brave could become the go-to platform for digital advertisement.
As such, BAT prices could reach as high as $100, with a market cap of $150 billion, and break into the top 10 coins in the process.
BAT price prediction today – Experts’ opinions
To increase the relevance of our Basic Attention Token price prediction, it’s paramount to have a look at what other experts think of a certain cryptocurrency.
- Coinpedia’s BAT price prediction is similar to ours for 2021, forecasting prices above the $2 mark. In the long term, however, the website is more conservative, sticking to a $5 Basic Attention Token forecast for 2025.
- DigitalCoinPrice opts for a safer $1.5 price target for 2021. Taking this level as their starting point, they put BAT in the vicinity of $3 by the end of 2025.
- RippleCoinNews believes that BAT could reach $15 by the end of 2025, considering their advertising platform reaches the adoption goals set up by the team.
Throughout this article, we attempted to provide you a rational Basic Attention Token price prediction for both short and long-term price action. To achieve this goal, we talked about the BAT and Brave’s ecosystem fundamentals, as well as some upcoming upgrades to the network.
By combining these findings with some sound technical analysis, we arrived at the following BAT price forecast:
- Basic Attention Token price prediction 2021 – $1.5 to $3.
- Basic Attention Token price prediction 2025 – $10 to $20.
- Basic Attention Token price prediction 2030 – $50 to $100.
With increased adoption and utility, the demand for BAT should steadily grow in the years to come. Furthermore, the project’s involvement with DeFi and NFTs shows that they are following the trends and turning BAT into a future-proof token.