In this guide, we will voice our own and market’s opinion on BAT future while discussing BAT price forecast for 2020 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Basic Attention Token.
Now, let’s head into it.
Before we delve deep into the Iota price prediction and answer questions if BAT is a good investment or not, why will BAT succeed or fail or why will BAT price rise or drop, let’s quickly throw a glance at what is Basic Attention Token and its to date history.
The Basic Attention Token (BAT) utilizes the Ethereum blockchain and Brave, a specialized web browser, which hosts BAT as its native currency with access to a plethora of advertising services.
BATs are designed for exchange between users, advertisers and publishers allowing advertising companies to commoditize user attention.
The BAT team wants to launch digital advertising into the age of cryptocurrency to ameliorate perceived failures in status quo marketing practices and arm advertisers with improved demographic targeting and content delivery tools. BAT tracks how users interact with advertising content and stores that data in a distributed ledger intended to ensure consumers experience fewer irrelevant advertisements.
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Our Basic Attention Token (BAT) Price Forecast 2021
BAT, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, BAT can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for BAT price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for BAT to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, BAT to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoins to enter the scene. Basic Attention Token will be among the top candidates to record big gains, as the money usually flows from bitcoin profits to bluechip altcoins and big cap coins before trickling down to the less known and smaller projects.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
Basic Attention Token (BAT) Future Outlook
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will BAT be among those 5%?
BAT is a unique project built on the Ethereum blockchain that is tackling a big problem of one of the largest digital sectors – digital advertising. The project enhances the efficiency of digital advertising, blocking ads and trackers.
The team behind BAT is one of the strongest in the whole cryptocurrency industry with highly relevant experience. Additionally, the BAT ecosystem is very active, that is, the project has a wide network of users, publishers, advertisers, and partners.
The token economics of BAT are pretty sound and the roadmap is detailed and transparent.
BAT enjoys a first mover advantage in their niche and has substantial opportunities to dominate the advertising market given its competition from emerging blockchain projects. Moreover, BAT can also bite off a piece of the market from companies in the traditional industry.
However, not everything is milk and honey as there is a potential scalability problem, which can curtail the development of the project in the long-term.
BAT also remains highly susceptible to adverse market conditions; token price is moderately volatile.
Since a strong Bitcoin move in 2020 is very likely, we can expect some swings and moves upwards by BAT as well. So 2020 will be a year of potential big moves (more likely upwards) and we can see BAT at least doubling its end of 2019 price value. Of course, we speak about BAT price denominated in USD. In terms of its BTC value, it is more likely that BTC will outperform it and BAT will be worth less Satoshis by the end of 2020.
Market prediction for Basic Attention Token – BAT Coin Price Prediction 2020
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the BAT price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins but not for BAT. According to them, BAT is expected to stay pretty much the same and hover around $0.23 per token in one year.
Trading beasts display that BAT can levitate around $0.23 within a year which means it will essentially trade sideways in the next year.
Cryptoground predicts that BAT might hover around the current level and reach $0.21 by the end of 2020. They even added their version of BAT price prediction 2024, where they stated that BAT might reach $0.91 by 2024, a 4.5x increase to the current price.
Digitalcoinprice gave a neutral prediction saying that by 2020 end, BAT might be worth the almost double amount of dollars than now – around $0.36 per token.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com