Even though plenty of people had high hopes for Basic Attention Token, the market’s true colors are becoming apparent. After massive uptrends due to the Coinbase listing announcement, the actual trading of BAT has caused an adverse effect. A massive dip in USD, BTC, and ETH value has been recorded over the past few hours, and things are only growing worse.
Basic Attention Token Price Goes Belly Up
It is quite evident the demand for Basic Attention Token is not what most people expected whatsoever. After a few weeks of solid upward price momentum, things have significantly turned around. While that doesn’t necessarily mean BAT will not go through another uptrend in the future, it is evident the current price is closer to reflecting the real value of Basic Attention Token.
Over the past 24 hours, there has been a 16% net loss in BAT’s USD value. Combined with a 15% loss over both Bitcoin and Ethereum, things are not necessarily looking all that great just yet. In fact, there are plenty of warning signs things might take another turn for the worse moving forward. The demand for BAT simply is not there now that the asset is effectively trading on Coinbase, for some unknown reason.
As is usually the case, there is a genuine excitement when an exchange announces they will list a specific token. In the case of Basic Attention Token, its announced listing on Coinbase has been pretty significant. Unfortunately, it seems things have turned around now that the trading has effectively commenced. That is not uncommon among altcoins, as speculators buy the hype and sell the news, so to speak.
BAT is now live at https://t.co/bCG11KveHS and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, send, receive, or store BAT. https://t.co/YgLcxAaMiT
— Coinbase 🛡️ (@coinbase) November 8, 2018
Despite the current Basic Attention price trend, it seems there are those who still remain confident things are looking pretty good. Although the views by Crypto Bushido are not positive per se, it is evident one has to acknowledge opportunities when they arise and disappear. That is rather unfortunate for BAT holders right now, but it is possible things will turn around fairly soon.
Feels good to look at the coin you sold earlier and realize you made the right decision to sell. #BAT #bitcoin #cryptocurrency #altcoins #btc pic.twitter.com/kUTMgeptbS
— Dollar Hive (@optionsUN1TED) November 9, 2018
Mass Adoption, on the other hand, simply likes to state facts as they present themselves to him. In this particular case, the listing of Coinbase has become all but irrelevant due to how the markets has responded in the process. Most people’s hopes may have been crushed, but those with some knowledge knew all too well this reversal was bound to happen sooner rather than later.
Considering the price of #BAT right now, it's pretty obvious that @Coinbase has become irrelevant.
— Mass Adoption (@mass_adoption) November 9, 2018
Although Basic Attention Token still has plenty of trading volume right now, it is evident most holders want to sell, rather than buy. That momentum, so close to the weekend, is not exactly promising, but it is how things stand right now. Whether or not the BAT price can remain close to $0.3 or will drop to $0.25 in the coming days, remains difficult to predict.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
2 Comments
Trol Troll Troll Troll Troll troll Troll Trol! Is it just the author, or this whole website that is hoping to buy some cheap coins?
It was so unfortunate that i lost a lot of my hard earned coins to internet fraudsters while i was as a beginner in bitcoin mining and binary options trading. I saw several posts here and there online. They all about perfect strategies in doubling investments but it all turned out to be a the same story once again. I don’t understand the reason they all make promises and fail. the more I try to contact them I fall victim of their tricks of withdrawal fees once again. This made me think it was difficult to make it through this means. Until i emailed this contact: globalbinaryoptions [@] g mail (.) com which i read about online everything changed, in few weeks i recovered all i had lost earlier. I could make about $4500 from initial mining investment of $400. I am very thankful for this opportunity because it really changed my life.