As the first half of 2022 is already passing, we can certainly say that it was a hard year for most virtual currencies in the market. The crypto industry entered a bear trend in November 2021 that has pushed the price of most cryptocurrencies lower, and some of them have even disappeared – Terra (LUNA) for example.
But what are Basic Attention Token (BAT) price predictions for the future? What can we expect from it? Several analysts have shared their points of view and are telling valuable information about what could happen with this digital asset in the future.
Basic Attention Token, also known as BAT, is a very interesting crypto project. According to its official site Basic Attention Token makes cryptocurrencies and decentralized finance accessible and usable for everyone.
BAT is also the token of the popular Brave web browser. This is one of the first global and private ad platforms that have more than 59 million active users in different countries all around the world. Additionally, there are 1.5 million users that are already accepting rewards in BAT.
Thanks to its performance in the market, we can say that BAT became one of the most reliable and successful altcoins in the market in recent years.
BAT has already a community of 750k verified creators on YouTube, 210k on Twitter, 131k on Twitch, and over 59 million active users per month on the Brave Browser. The company is now working order to release new utilities for the digital currency including adding new features for search engines and eCommerce.
When it comes to BAT’s price, we can see that the virtual currency has had an extraordinary performance in terms of stability compared to other altcoins. While other digital currencies experience large fluctuations, BAT has been relatively stable over the last few years.
In early 2018, BAT reached a local high of over $0.80 and then it entered a bear market like Bitcoin (BTC) and other digital assets. Despite that, it recovered in 2019 to $0.40 but it was still 50% below its all-time high.
As happened with the whole cryptocurrency market, BAT entered a new bull trend in 2021 that helped the virtual currency reach its first all-time high since 2018 when it hit $1.50. Then, in November 2021, the coin moved higher once again to $1.76. After that, the virtual currency entered a bear market.
- 2018’s high: $0.80
- 2019’s high: $0.42
- 2020’s high: $0.40
- 2021’s high: $1.76
- EthanTW shows that BAT has formed a double top on the 4-hour chart and it has broken from the neckline pattern now. The virtual currency then remained stable and traded in a relatively tight range since then.
The profit targets for this analyst include $0.3376-$0.3291 and $0.311. The stop loss is currently at $0.406.
2. Markushondas believes that there should be a super-long setup for BAT in the mid-term. He shows that there are three main resistance levels for this virtual currency: $0.50, $0.62 and $0.889. The expert says that BAT is at multi-year support and that there is a buying opportunity below $0.375.
3. Ebrahimfinance is another analyst that considers that the virtual currency could start moving higher in the near future towards $0.44 after the recent sell-off experienced by most virtual currencies in the crypto industry. Additionally, he shows different support and resistance levels at $0.185, $0.29, $0.44 and $0.95.
4. Continuing with the expert take, this analyst saw the virtual currency in a tight range that has been broken. Lubstrade expected BAT to move to $0.58 but this did not happen. BAT moved lower and it has broken below the lower boundary of the trading channel drawn by the analyst in the chart.
5. Finally, this BAT/USDT trading analyst showed that there was a strong possibility for BAT to be traded inside a relatively tight range between $0.3684 and $0.4142. This is what happened over the last month and it turned out to be very accurate. Now it is time to wait and see what happens with this virtual currency.
BAT is one of the few altcoin tokens in the cryptocurrency market with a clear utility. This token is used to reward users for their attention while consuming ads when they watch videos or browse the web through the Brave web browser. At the same time, the token became very popular on Reddit and Twitter as it can be used to tip other content creators.
At the same time, this cryptocurrency can be used by advertisers and content creators to pay for goods and services, creating a circular economy in which they receive BAT as tips and subscriptions and they use the tokens to continue expanding online.
There are unique plans for Basic Attention Token in the coming years. The goal would be to add functionalities to other browsers to make it easier for content creators to get rewarded. At the same time, they are also planning to work with WeChat and Telegram and make BAT functionalities even larger.
There are two main possibilities for the cryptocurrency market this year. It can move higher and start a new bull trend (which seems unlikely at this point), or trend lower while projects continue to build new solutions and services.
If the cryptocurrency market moves higher, then we could see BAT trying to get back above $0.80, which would be a very important price level considering this was its first all-time high for a long period of time. This would give time for BAT investors to get ready for 2023 and eventually higher highs.
Now, if things turn out to be bearish, then we could see BAT moving closer to $0.20. This would not be terrible for BAT as those that are sure about the long term success of this project could get a chance to enter the market at very good prices. Right now, BAT is being traded at close to $0.40.
This is one of the main questions that the community is asking: can BAT price reach $2 in the future? Knowing how cryptocurrencies work and the volatility in the market, we can say that it is highly possible that this could happen in the future. Of course, there are many things to take into consideration that could change the course of BAT’s price.
With the expansion of new features (increasing the token’s utility), there will be a clear possibility for BAT to move above $2 per coin. We are not financial advisors.
Now, based on estimations and previous analyses, here you have the following price predictions for BAT in the coming years:
- BAT price prediction for 2022: $0.20 – $0.40
- BAT price prediction for 2023: $0.10 – $0.80
- BAT price prediction for 2024: $0.30 – $1.70
- BAT price prediction for 2024: $0.50 – $3
Subscribe to our Newsletter to be a part of our future $1,000 per month contests.