For the first time in over 36 hours, Bitcoin has decided to not turn bearish any further. While that is a rather promising turn of events, it will take some time for all of the alternative markets to regain lost ground. The Basic Attention Token price is on the right track already, as it is trying to push through to $0.22 once again.
Basic Attention Token Price Moves up
When the Bitcoin price turned bearish nearly two days ago, alternative markets were quick to follow suit. That is only normal, as most of these offerings directly derive value from the world’s leading cryptocurrency. Basic Attention Token has tried to remain in the green all that time and is now the first to note major gains. It is evident the push to $0.22 is in full effect, assuming this uptrend proves sustainable.
When tallying up the past 24 hours, the Basic Attention Token price gained over 8.1% in USD value to rise to $0.217. There is also a 7.6% increase in BAT/BTC and BAT/ETH, which is always promising to keep an eye on. Combined with $22.67m in trading volume, there should be no retrace in the near future. However, volatile markets will always be unpredictable first and foremost.
It is evident a lot of traders have high expectations for Basic Attention Token. DaoCoinTech, for example, sees a double peak and negative mismatch on the daily chart. Whether or not that means this uptrend will fall apart, is always a bit of a difficult question. The current momentum seems to indicate BAT is in a good flow, although one never knows what the next few hours will bring.
https://twitter.com/DaoCoinTech/status/1110626675782549504
BitcoinBanksy has seemingly turned bullish when it comes to the favorite altcoins and tokens on the market. While it is true some markets perform a lot better under bearish conditions compared to others, there will be a time when this train of thought no longer applies. When that will happen exactly, remains to be seen, but it is evident Basic Attention Token will not engage the pumps every time Bitcoin goes in the red.
Two of the best coins to trade monthly in a bear market. #adex #Bat #kin is for long term 👌 pic.twitter.com/wjAvO0W0Bm
— rekt (@laurentiu_84) March 26, 2019
Last but not least, there is the tweet by Philosof which points an interesting picture. This chart clearly shows how pump-and-dump-like this market can be on the best of days. If history were to repeat itself, there will be another steep downtrend fairly soon, as these gains have not been sustained successfully all week long. Either that, or a major breakout will occur.
Anyone saw week chart for #BAT? Looks like something really massive is growing over here.#batbtc #bitcoin #btc #crypto #cryptotrading #CryptoCurrency #brave pic.twitter.com/PNZGtLWNwP
— Zen (@WiseAnalyze) March 26, 2019
When taking everything into consideration, it would appear Basic Attention Token can be an interesting market for onlookers. Those who have skin in the game may grow a bit more nervous as time progresses, as this market will undergo changes either for better or worse. Anything can happen in this industry, regardless of how the current momentum may look.
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