Basic Attention Token (BAT) News – Can Basic Attention Token (BAT) lead the recovery among cryptocurrency Altcoins?

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When you look at the performance of Basic Attention Token (BAT) in the past couple of weeks, you will realize that it has been on a rollercoaster ride. It increased significantly on the news that it will get listed on coinbase. However, after the listing on coinbase, it retraced all of those gains as well. That is why the investors who are holding basic attention token (BAT) did not enjoy any gains. After that, came the cryptocurrency intermediate downtrend which led to Bitcoin (BTC) and Ethereum (ETH) forming new lows. This further undermined any chances of recovery.

Can Basic Attention Token (BAT) lead the recovery among cryptocurrency Altcoins?

When you look at the performance of Basic Attention Token (BAT) today, you will realize that it is trading higher by almost 12.64%. It is currently trading around $ 0.2211. This after the broader cryptocurrency markets including the mainstream cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) showed some signs of recovery. As soon as these 2 main cryptocurrencies turned in the green, Basic Attention Token (BAT) soared higher by almost 12%. This clearly indicates that it might actually lead the cryptocurrency recovery as well.

While in the mainstream cryptocurrencies, it might not be able to lead a recovery but certainly, in the Altcoins, it can lead the momentum.

Now that Coinbase listing is behind it as well as other fundamental news are behind it as well, it seems like the momentum is driving the stock and much higher. Since it retraced all of those gains, there is plenty of room for any kind of recovery as well. Also, once the token gains momentum, the other tokens having similar market cap will also be able to do so. When the Coinbase rumors came out, it reached a high of almost $ .39. Currently, even after the gain of 12%, it is trading at the level of $ .22. This clearly indicates that there is plenty of room for the cryptocurrency token to rise as well.

The main thing which remains to be seen is whether the broader recovery in the cryptocurrency markets is temporary or whether it can sustain. If the broader recovery can sustain, Basic Attention Token (bat) will be able to move higher as well. In such a case, the momentum is likely to increase rather than decrease. Moreover, the tokens which rise faster will garner more and more attention from the investors as well. This will, in turn, increase the volumes. Once the volumes increase, it will be easier for Basic Attention Token (BAT) to rise even higher. This is one of the main reasons why it is widely anticipated that it might go even higher from these levels.

When you look at some of the other Altcoins which are rising, you will find that a few others are also shifting recovery like wax (WAX) which is up by almost 11%. Among the mainstream cryptocurrencies, Stellar lumens (XLM) is up by another 8%. Similarly, Electroneum (ETN) is up by 7.8%. Thus, it seems like the broader-based recovery is underway. Since Basic Attention Token (BAT) is leading the recovery among lesser known cryptocurrencies, it can rise even more.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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