Home / Crypto Currency / Basic Attention Token Price Rebounds as Coinbase FOMO Remains Tangible

Basic Attention Token Price Rebounds as Coinbase FOMO Remains Tangible

As most of the top markets struggle for traction right now, speculators and traders are looking well beyond the top 20 for profits. Basic Attention Token is, once again, making some very strong moves. Its addition to Coinbase should occur later today, although the company has yet to communicate an official timeline in this regard.

Basic Attention Token Price Rises Again

It has been a wild ride for holders of the Basic Attention Token over the past few weeks. The imminent listing on Coinbase has many people excited, and the BAT price responded in kind. Even today, there is still plenty of market excitement to take into account, albeit those buying into the FOMO may not necessarily see the results they are looking for.

Over the past 24 hours, the BAT price has risen by 7% in USD value, 8% over Bitcoin, and 9.5% over Ethereum. All of these gains are incredibly bullish, primarily because they are sustained by very little trading volume at this time. It seems to be a matter of time until the value surges to $0.4, although it is a bit early to say for sure.

The big news of the day is how Coinbase will list Basic Attention Token this week. Many people expect that to happen today, although it may very well be later this week. Until the company makes an official statement, users need to remain patient first and foremost. BAT Will be made available on the website and the mobile applications in the coming days.

A very interesting trend has been noted by Istvan. He shares some interesting details as to how several ERC20 tokens are currently trading independently of Ethereum’s price momentum. Among those assets are Basic Attention Token and 0x, both of which have close ties to Coinbase at this time. A very interesting trend, although one that may not necessarily amount to any major changes moving forward.

For those looking at the charts form a technical analysis point of view, the current momentum certainly looks appealing. Although Crypto Ronny predicted a double dip and subsequent dip to 4,700 Satoshi, the market has rebounded strongly ever since. Ever since, it seems a new double top pattern has begun forming, although it remains to be seen if that will lead to another leg down over the coming hours.

While there is plenty of momentum associated with the Basic Attention Token price, one has to keep in mind buying in at the top is never a good idea. Granted, this token has a real-world use through the Brave browser. However, its price does not necessarily reflect the usability of the token in its current state.

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.

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. 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. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.