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Basic Attention Token Price Prediction 2024: BAT Price Analysis

Last Updated 23 hours ago
Valdrin Tahiri
Last Updated 23 hours ago
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • The Basic Attention Token rose in 2023, but still underperfomed the market. 
  • BAT is one of the longer-serving crypto tokens, operating since 2017.
  • BAT has fallen sinc reaching a yearly high in March and is at risk of a breakdown.

Although the Basic Attention Token rose in 2023, it still underperformed against the crypto market as a whole. Investors will be hoping the long-standing crypto can have a better year in 2024. The token has, in fairness, climbed since the start of January but has fallen sharply since March. BAT has fallen nearly 40% since the start of the year and, on July 10 2024, BAT was worth about $0.176.

Basic Attention Token did not immediately respond to a request for comment.

Let’s now take a look at our own price predictions for Basic Attention Token, made on July 10, 2024. We will also examine the BAT price history, and talk a little about what BAT is and what it does.

Basic Attention Token Price Prediction

It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong.

Minimum BAT Price Prediction Average BAT Price Prediction Maximum BAT Price Prediction
2024 $0.23 $0.255 $0.28
2025 $0.45 $0.495 $0.54
2030 $0.10 $0.125 $0.15

There are two methods used to create our BAT price predictions. More specifically, predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average BAT price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.

Fractal Method

The weekly RSI for BAT generated a bullish divergence for the first time in history in September 2019. The divergence continued for 168 days, then sparking a 630-day upward movement with a magnitude of 150%. The first high had a magnitude of 380%.

In 2022, the weekly RSI generated a bullish divergence for 252 days. While the price began an upward movement afterward, the high had a magnitude of only 140%. So, the second movement is 1.5 times longer but only 0.36 times as strong.

If these ratios hold, BAT will increase for 945 days at a magnitude of 570%, culminating with a high of $1.22 in March 2026. During this projected increase, the fractal method gives a BAT price prediction of $0.23 and $0.52 for the end of 2024 and 2025, respectively.

BAT Wave Count Prediction
BAT/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

Wave Count Method

Because of the aforementioned bullish divergence and the similar completed A-B-C correction, the wave count also suggests that BAT will soon begin a five-wave upward movement. In the 2021 increase, the move lasted until the 4.21 extension of the correction.

If the same thing happens this time, BAT will reach a high of $1.12. Giving the movements similar length gives a BAT price prediction of $0.28 and $0.45 for the end of 2024 and 2025, respectively.

BAT Wave Count Price Prediction
BAT/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

Finally, we use the rate of increase or decrease over the past five years to make a BAT price prediction for the end of 2030. In the 1,820 days since July 2019, BAT has fallen by 28%, for a rate of decrease of 0.015% per day. Projecting this rate of decrease until the end of 2030 leads to a price of $0.125. Adding and removing 20% to this target leads to the minimum and maximum BAT price predictions.

Basic Attention Token Price Prediction for 2024

The wave count and fractal method give similar Basic Attention Token price predictions for the end of 2024. More specifically, they give targets of $0.23 and $0.28, respectively.

Basic Attention Token Price Prediction for 2025

The wave count and fractal method give similar Basic Attention Token price predictions for the end of 2024. More specifically, they give targets of $0.45 and $0.54, respectively.

Basic Attention Token Price Prediction for 2030

The Basic Attention Token price prediction for the end of 2030 uses the rate of decrease over the past five years and gives a target between $0.10 and $0.15.

BAT Price Analysis

The daily time frame BAT price chart shows a decrease under a descending resistance trend line since the yearly high of $0.38 in March. The downward movement culminated with a low of $0.15 on July 5. The low was made inside the $0.165 horizontal support area, which has existed for more than a year.  The price has bounced since, validating the area as support.

An interesting bullish development is the bullish divergence developing in both the RSI and MACD (green). These divergences often lead to notable bullish trend reversals.

BAT Daily Decline
BAT Daily Chart | Credit: Valdrin Tahiri/TradingView

If BAT breaks out from the resistance trend line, it can increase to the 0.5 Fibonacci retracement resistance level at $0.26. Conversely, a breakdown from the $0.165 area will mean the trend is still bearish.

Short-Term Basic Attention Token Price Prediction

The Basic Attention Token price prediction for the next 24 hours rests on the assumption that the price will reach the resistance trend line and eventually break out.

If a similar rate of increase ensues, the BAT price will decline tomorrow, confirming the bearish short-term prediction and possibly falling toward $0.17. Then, the ensuing increase will take the price to the resistance trend line at $0.185, likely reached by the end of the week.

BAT Short-Term Chart
BAT/USDT 2-Hour Chart | Credit: Valdrin Tahiri/TradingView

Basic Attention Token Fear & Greed Index

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview.

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. 


On July 10, 2024, the Fear & Greed Index was at 28, a sign of fear. It was neutral at 44 last week and it showed greed at 74 last month.

BAT Average True Range (ATR): BAT Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

BAT ATR
BAT Weekly ATR | Credit: TradingView

Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 10, 2024, BAT’s weekly ATR was 0.04, a sign of low volatility. As a proportion of the $0.17 BAT price, the ATR is 0.22.

BAT Relative Strength Index (RSI): Is BAT Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On July 10, 2024, the BAT weekly RSI was at 37, a sign of a bearish trend. The RSI has fallen since the yearly high in March.

BAT Weekly RSI
BAT RSI | Credit: TradingView

Bitcoin Price Performance Comparisons

BAT is a decentralized finance token that deals with content creation, so let’s compare its performance with other similar projects.

Current Price One Year Ago Price Change
BAT $0.176 $0.193 -4.7%
XTZ $0.744 $0.828 -8.1%
ENJ $0.166 $0.290 -41.3%
MANA $0.308 $0.394 -17.8%

Best Days and Months to Buy BAT

We took a look at the BAT price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, indicating the best times to buy BAT.

Times to Buy BAT Days, Months and Quarters
Best Day of the Week Friday
Best Month April
Best Week 16
Best Quarter Q1

BAT Price History

Let’s take a closer look at the Basic Attention Token (BAT) price history. While past performance isn’t necessarily indicative of future results, understanding what BAT has done can help us contextualize future predictions.

2017-2018: The Basic Attention Token was launched on May 31, 2017, after an initial coin offering (ICO) raised $35 million in less than 30 seconds. It was initially worth about $0.30, but a bubble saw it reach $0.8482 on January 8, 2018. The bubble burst, and BAT fell to below $0.40.

2021: Things picked up again in early 2021 when the market flourished, and the Basic Attention Token reached a periodic high of $1.65 on April 9. There was a downturn over the summer, but a resurgence later in the year saw it reach an all-time high of $1.92 on November 28. The token then closed the year at $1.20.

2022: Both BAT and crypto as a whole entered a decline. The token dropped below $1 in January, and the collapse of the Terra (LUNA) blockchain in May saw it fall under $0.50. It struggled further when the FTX (FTT) blockchain declared bankruptcy in November, closing 2022 at $0.1661. This meant BAT lost more than 85% of its value across the year.

2023: BAT shot up in 2023, only to end up underperforming. It rallied at the start of the year, trading at above $0.30 in the middle of February. BAT then entered a decline which culminated in a low of $0.1558 on June 10, coinciding with the news that Crypto.com (CRO) was to halt its US institutional activities in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges. The token then made a recovery, reaching more than $0.20 in late June and early August. Another market downturn saw it fall to $0.1578 on September 11. A buoyant market saw it close the year at $0.2563, an annual rise of nearly 55%, though it underperformed against a crypto market that more than doubled in 2023.

2024: BAT has fallen since March 2024 and was worth $0.17 by July.

BAT Price History
BAT Price History | Credit: CoinGecko
Period BAT Price
Today (July 10, 2024) $0.17
Last Week (July 4, 2024) $0.19
Last Month (June 11, 2024) $0.22
Three Months Ago (April 11, 2024) $0.32
Last Year (July 10, 2023) $0.19
Launch Price (June 8, 2017) $0.22
All-Time High (November 28, 2021) $1.90
All-Time Low (July 16, 2017) $0.072

BAT Market Cap

The market capitalization, or market cap, is the sum of the total number of BAT in circulation multiplied by its price. On July 8, 2024, BAT’s market cap was $263 million, making it the #178th largest crypto by that metric.

BAT Market Cap
BAT Market Cap | Credit: CoinGecko

Who Owns the Most BAT Tokens?

On July 10, 2024, the five wallets with the most Basic Attention Token (BAT)  were:

  • 0xfd821d8cea64feacb6ec86d979e37bc64c64a00b – The wallet owns 204,040,996 tokens, or 13.60% of the supply.
  • 0x6c8c6b02e7b2be14d4fa6022dfd6d75921d90e4e – The wallet owns 144,340,614 tokens, or 9.62% of the supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec – The wallet owns 56,795,239 tokens, or 3.79% of the supply.
  • 0xbe0eb53f46cd790cd13851d5eff43d12404d33e8 – The wallet owns 50,000,000 tokens, or 3.33% of the supply.
  • 0xeb4d561dc3f84f86198ecfbb96399c821811df1b – The wallet owns 27,988,385 tokens, or 1.87% of the supply.

BAT Supply and Distribution

Supply and Distribution Figures
Maximum Supply 1,500,000,000
Circulating Supply as of July 10, 2024 1,494,883,735 (99% of maximum supply)
Holder Distribution as of July 10, 2024 Top 10 holders own 40% of the total supply.

Is Basic Attention Token a Good Investment?

It is hard to say. The token has been around for a long time, but is yet to make it into crypto’s highest echelons. It also under performed in 2023, although it has been on something of an upturn recently.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BAT.

Will Basic Attention Token go up or down?

No one can really tell right now. While the Basic Attention Token crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Basic Attention Token?

Before you decide whether or not to invest in Basic Attention Token, you will have to do your own research, not only on BAT, but on other coins and tokens such as The Graph (GRT) and Uniswap (UNI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Basic Attention Token (BAT) Explained

In 2016, Brendan Eich, the software developer who created JavaScript and founded the Mozilla project, launched the Brave browser. The Brave browser is designed to block ads and trackers by default. It is run on open source code, and protects the privacy of users. The browser uses the Basic Attention Token  (BAT) as a method of payment.

BAT is based on the Ethereum (ETH) blockchain.

How Basic Attention Token Works

Advertisers buy advertising space and user attention with BAT, while content creators and publishers pay for user contributions and advertising revenue with the token BAT. Meanwhile, Brave’s users get BAT for paying attention to adverts. 

Basically, if someone chooses to watch an advert on Brave, they get paid BAT. A system called Brave payments automatically calculates how much people get at the end of each month based on time spent viewing content. Users can also make specific contribution regardless of time spent viewing content, much like a site like Patreon does.

BAT can also be bought, sold, and traded on exchanges. 

Because BAT is based on Ethereum, it is a token, not a coin. You might see references to such things as a Basic Attention Token coin price predictions. Not only are these unwieldy, they are also wrong. 

FAQs 

How many Basic Attention Tokens are there?

As of July 10, 2024 there were 1.494 billion BAT in circulation out of a total supply of 1.5 billion.

Will Basic Attention Token reach $1?

Our price predictions suggest Basic Attention Token will not reach $1 in the near future.

What is the Basic Attention Token used for?

The BAT token pays for people to watch adverts on the Brave browser. People can also buy, sell, and trade the Basic Attention Token on exchanges.

Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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