Basic Attention Token Price Pumps by 25% yet Momentum Seems to Retrace

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TheMerkle Basic Attention Token

When the overall cryptocurrency momentum remains both bullish and bearish at the same time, there is a genuine chance some unusual market developments will occur in the near future. That is rather apparent today, especially where the Basic Attention Token price is concerned. Its surge to a rather high value has made a lot of people good money. Chasing the top is still not advised at this time, as the momentum seems to be ebbing right now.

Basic Attention Token Price Surges yet Again

Over the past few months, very few markets have noted several price surges in quick succession. While it remains to be seen if this run will fare much better compared to previous attempts, it seems Basic Attention Token is the center of attention once again. Following a very strong push all across the board, social media is abuzz with BAT discussions again.

Over the past few hours, the Basic Attention Token price has increased by 26.8% in USD value, bringing the price to $0.166293. There are equally strong gains in BAT/BTC and BAT/ETH, which will create some interesting momentum in the coming hours. It does appear the push is already running out of steam, as the market has been retracing sharply in the past hour or three. Not entirely unexpected either, as monster gains can never be sustained for very long.

As is usually the case when things occur, there is no real indication as to why this sudden interest has materialized. All traders and enthusiasts talk about is the BAT price, which is to be expected. Palm Venice Beach, a pump signal group, already cashed out BAT at  a50% profit earlier today. That further confirms things are not looking great right now, especially for those who bought in higher and are still waiting for the price to recover.

There was also some excitement regarding the Brave team’s presence during Mobile World Congress 2019. It appears they spared no effort in putting the Brave brand out there, including a nice statue of the logo and examples of how the browser works. While such a presence can be invaluable, it is not necessarily the primary reason for this recent price surge whatsoever.

For those users who want to make money with BAT but are afraid to buy in, arbitrage opportunities usually have one covered. BAT Is part of an interesting direct arbitrage opportunity involving the Koinex and CoinDCX exchanges. Although one needs access to Indian Rupees to make the most profit out of this trade, it is a promising option to look into regardless.

For the time being, it remains to be seen how much profit one can make from Basic Attention Token as of right now. Considering how most of this “pump” has already begun to fade, it seems unlikely any major pushback will occur later today. Although nothing is impossible in this particular industry, one has to keep in mind that chasing pumps will usually result in financial losses first and foremost.

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.

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The post Basic Attention Token Price Pumps by 25% yet Momentum Seems to Retrace appeared first on The Merkle Hash.


by JP Buntinx via The Merkle Hash

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