Home / Price Predictions / Bitget Price Prediction 2024: BGB Price Analysis

Bitget Price Prediction 2024: BGB Price Analysis

Last Updated June 19, 2024 8:54 AM
Giuseppe Ciccomascolo
Last Updated June 19, 2024 8:54 AM

Key Takeaways

  • Bitget’s BGB token was one of the few cryptos to experienced a consistent price rise throughout 2023.
  • BGB reached its highest ever price of $1.05 on February 19.
  • One price prediction says it may reach $3.97 next year.

Bitget’s BGB token reached its highest ever price of $1.05 in mid-February 2024 after having started the new year on an uptrend. The positive trend continued since then and the token hit a new all-time high in early June, at $1.43.

What’s next for Bitget?

Bitget did not respond to a request for comment.

But what is Bitget (BGB)? How does Bitget work? Let’s see what we can find out, and also take a look at some of the Bitget Price Predictions that were being made as of June 19, 2024.

Bitget Price Prediction

Let’s examine some of the Bitget price predictions being made by CCN.com on June 19, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum BGB Price Prediction Average BGB Price Prediction Maximum BGB Price Prediction
2024 $1.05 $2.40 $2.55
2025 $2.49 $2.92 $3.00
2030 $7.83 $8.32 $8.60

Bitget Price Prediction for 2024

If the positive momentum continues and Bitget breaks above its moving averages, it could reach targets between $1.05 and $2.55 by the end of 2024, with the average price set at $2.40.

Bitget Price Prediction for 2025

Technical analysis suggests a potential increase for BGB in 2025. The minimum Bitget price expected for 2025 is $2.49 while the maximum one is $3.00. In the middle, it may reach $2.92.

Bitget Price Prediction for 2030

Based on technical analysis, the BGB token may reach a maximum level of $8.60 at the beginning of the next decade, while, in the worst scenario, it may go to $7.83. The average expected price is $8.32.

Bitget Price Analysis

The BGB’s price is currently consolidating, which aligns with our previous analysis. This consolidation often precedes a breakout, and we anticipate a surge toward a new all-time high (ATH) soon. However, staying vigilant is crucial.

BGB price analysis
BGB price analysis. | Credit: Giuseppe Fabio Ciccomascolo/TradingView

The price continues its impressive run with multiple ATHs secured and a well-defined support line acting as a launchpad. Currently, the price is hovering near this support, suggesting a potential consolidation phase. This consolidation shouldn’t raise alarms; it’s often a healthy sign before a renewed upward push.

Traders should watch for price holding above support, as a decisive break above the support line signals a potential breakout and continuation of the uptrend; and for BGB’s trading volume, as an increasing volume alongside the breakout confirms strong buying pressure and a more sustainable upward move.

Price/Performance Comparisons

Current Price One Year Ago Price Change
Bitget $1.16 $0.4801 +147%
Mantle $0.8248 $0.4779 +71%
Lido DAO $2.36 $1.8597 +36%
Sui $0.8248 $0.8185 +8%

Bitget Price History

Bitget price history
Bitget price in 2023 and 2024. | Credit: CoinMarketCap

 

Time period Velo price
Last week (June 12, 2024) $1.1658
Last month (May 19, 2024) $1.0961
Three months ago (March 19, 2024) $0.877
One year ago (June 14, 2023) $0.4801
Launch price (July 30, 2021) $0.07558
All-time high (June 2, 2024) $1.4306
All-time low (July 30, 2021) $0.07558

Who Owns the Most Bitget Token (BGB)?

On June 19, 2024, one wallet held 30.00% of the supply of BGB.

Richest BGB Wallet Addresses

As of June 19, 2024, the five wallets with the most BGB were

  • 0x1ae3739e17d8500f2b2d80086ed092596a116e0b. This wallet held 300,000,000 BGB, or 30.00% of the supply.
  • 0xdfe4b89cf009bffa33d9bca1f19694fc2d4d943d. This wallet held 239,201,000 BGB, or 23.92% of the supply.
  • 0x377e5c5f95c3fa15c4aae78af77688ab275f496b. This wallet held 220,001,001 BGB, or 22.00% of the supply.
  • 0x461f6dcdd5be42d41fe71611154279d87c06b406. This wallet held 200,000,000 BGB, or 20.00% of the supply.
  • 0x2bf7494111a59bd51f731dcd4873d7d71f8feeec. This wallet also held 20,000,000 BGB, or 2.00% of the supply.

Fact Box

Supply and Distribution Figures
Maximum supply 2,000,000,000
Circulating supply (as of June 19, 2024) 1,400,000,000 (70% of maximum supply)
Holder distribution Top 10 holders owned 99% of total supply, as of June 19, 2024.

From the Whitepaper

Bitget’s technical documentation, or whitepaper , outlines the advantages BGB provides as a utility asset within the framework of the Bitget platform and the benefits holders can expect to receive.

The updated BGB token whitepaper reveals the roadmap of the asset’s development, outlining the use case scenarios and economics it will be based on. The document describes the innovative side of the asset, including a number of utilities under development, which aim to bring more benefits to BGB holders. Among the features in question are the BGB lottery, a trial fund for futures trading , zero withdrawal fee, and exclusive earning services. As part of the token’s economic side, a BGB buyback and burn mechanism are also being considered to reduce the token’s circulating supply and eventually boost its value.

What Is Bitget?

One of the most important places on the blockchain is the crypto exchange. Since crypto is a commodity whose value is decided by the market, the places where coins and tokens are bought, sold, and exchanged are absolutely critical. 

One such exchange is Bitget . Set up in Singapore by crypto entrepreneur Sandra Lou, the platform, which is based in Seychelles, offers people the chance to trade in cryptocurrency and financial derivatives. 

To support Bitget is its own native token, which goes by the ticker handle BGB.

How Bitget Works

The Bitget platform is a crypto exchange, which means people can connect their wallet and, after going through the relevant Know Your Customer checks, get hold of crypto. 

Because Bitget is a centralized exchange, people are restricted to buying, selling and trading the cryptos that are listed by the platform.

People who hold BGB, which replaced the old BFT token in the middle of 2021, are able to get discounts on trading fees. They can also access products that are being developed on the exchange early, and it can be staked, or set aside, in return for rewards. It can also be bought, sold, and traded on exchanges.

Because BGB is based on the Ethereum blockchain, it is a token, rather than a coin. You might see references to such things as a Bitget coin price prediction, but these are wrong.

Is Bitget a Good Investment?

It is impossible to tell. On one hand, BGB has been something of an unsung star, one of the very few cryptos to emerge from the disasters of 2022 in a better place than from where it started the year.

If it succeeds in getting a license to operate in Hong Kong, then things could look very encouraging. 

On the other hand, we do have to allow a beam of realism to shine through. BGB is firmly outside of the top 100 cryptos and, as we have seen all too often, platforms can collapse and tokens and coins can become obliterated very quickly.

There have also been—admittedly denied—claims  that Bitget is a scam. A spokesperson for Bitget said that crypto influencer Evan Luthra’s allegations were triggered by the exchange identifying him as “being involved in some suspicious transactions” related to the Reel Token (REELT) crypto on the system.

In a statement , the exchange said Luthra, who advises the token, and three other people had had their accounts frozen.

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

Will Bitget go up or down?

No one can really tell right now. While the Bitget 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 Bitget?

Before you decide whether or not to invest in Bitget, you will have to do your own research, not only on BGB, but on other, related, coins and tokens such as Binance (BNB) or Cronos (CRO). 

Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Bitget Attention Tracker

Bitget Google search volume
Bitget Google search volume. | Credit: Google

Here is a chart for the Bitget Google search volume for the past 90 days. This represents how many times the term “Bitget BGB” has been Googled over the previous 90 days. 

FAQs 

How many Bitget are there?

On June 19, 2024, there were 1.4 billion BGB in circulation out of a total supply of 2 billion.

Will Bitget reach $10?

It might but, if it does, it won’t happen for a while yet. Price predictions based on technical analysis see it reach a double-figure level in the next decade.

Keep in mind, though, that the token’s highest-ever price is $1.4306, which it reached in June 2024.

What is Bitget used for?

The BGB crypto helps support the Bitget exchange, with holders entitled to access to new projects and money off trading fees. It can be staked in return for rewards and can also be bought, sold, and traded 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.