Kategorie: Crypto News

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Basic Attention Token (BAT) price prediction & why it continues to decline

BAT Token with buy & sell dice behind it

It is safe to say that Basic Attention Token (BAT) has been nose-diving for the best part of three months now. In fact, the general trend on this coin which is associated with the Brave Browser has been downwards. Sadly, the signs show that this bearish move will remain for longer. Here are some highlights:

  • BAT is trading 60% lower from its all-time highs in November.
  • The coin was trading at $0.71 at press time, virtually the same compared to a day ago.
  • BAT also remains lower from its 50- and 200-day moving averages.

Data Source: Tradingview 

Basic Attention Token (BAT) – Why the bearish trend will remain?

There are both technical and fundamental factors that make BAT bearish at the moment. Starting with the fundamentals, it is clear that overall sentiment in the crypto market has slowed.

After a surge at the start of the month, most investors are holding back their capital as they watch events in Eastern Europe and tightening monetary policy in the United States. As for technical factors, the price action for BAT has generally moved downwards.

In fact, after hitting all-time highs in November 2021, the coin has lost nearly 60% of the market cap. It is also trading way lower compared to both its 200- and 50-day simple moving average. Also, a look at the Relative Strength Index suggests that BAT is yet to reach the “Oversold” threshold. As such, more weakness could still come.

Can investors buy Basic Attention Token (BAT) now?

The answer is yes. In general, the dip offers probably the most decent chance to enter into BAT. However, since it is projected that the token could in fact fall even further, you can still be patient. Watch for $0.5 in the coming days. That should be a good entry point for the long- and short-term investments.

The post Basic Attention Token (BAT) price prediction & why it continues to decline appeared first on Coin Journal.

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Feb 22 highlights: Cryptos plummet, prospect of war causes European market selloff

The major cryptos were affected by the developing news on the Russia-Ukrainian border. European shares dropped sharply yesterday as the prospect of war between Russia and Ukraine became more real.

Every single company on the EUSTX50 (-2.62%), an index of the 50 largest eurozone companies, finished in the red yesterday.

Top cryptos

Avalanche and Cardano plummeted more than 14%, XRP was down more than 13%, Solana fell 12%, BNB slid 9%, and Ethereum 8%. 

Bitcoin was trading below $37,000 at time of writing, down more than 6% over the past 24 hours. Cosmos fell out of the top 20.

Top movers

It was almost all gloom and doom in the top 100 as well. It has been a decidedly bad day for metaverse tokens. Decentraland lost almost 13%, Fantom, Stacks, Neo and Oasis Network dropped 14%, and Axie Infinity shed 12% of its value.

Tezos and Gala also declined by 14%. Harmony and Quant each lost 16%, reversing recent gains. The biggest loser in the top 100 was Theta Fuel with -19%, almost a fifth of its value.   

The only crypto in the green today was Anchor Protocol, up 5% at the time of writing.

Trending

OBROK is the native token of OBRok Project, a team working on space and aeronautical sciences. They aim to solve problems with rising costs of transportation of satellites and electronic devices in space. OBROK has gained 643% today.

ALPINE, the token of Alpine F1 Team Fan, is trading for around $7 with a 24-hour trading volume of $656.3 million. It added almost a third to its value after Alpine revealed the A522, its 2022 blue and pink challenger. 

Lido is a liquid staking solution for Ethereum and one of today’s biggest gainers, up 16% at the time of writing.  

The post Feb 22 highlights: Cryptos plummet, prospect of war causes European market selloff appeared first on Coin Journal.

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Gala Games (GALA) could dip to $0.2 before any bullish uptrend

Gala Games Logo

Gala Games (GALA) just a few weeks ago was surging to unimaginable rates. At one point, the blockchain gaming token reported gains of 60% in seven days. But much of that momentum has gone, and we expect some bearish price movements in the coming days. Here are some highlights:

  • Gala Games (GALA) could fall to $0.2 if we are going to see some bullish reversal.

  • The token is currently trading at around $0.25, literally unchanged in the last 24 hours.

  • Upside potential remains minimal at best, and GALA could struggle to hit $0.4.

Data Source: Tradingview 

Gala Games (GALA)

The metaverse and blockchain gaming craze that we saw last year was quite instrumental in the growth of GALA. In fact, the coin managed to surge towards all-time highs in November last year, hitting a price of around $0.84. 

But this bullish momentum hasn’t been replicated in fact, GALA is now trading 82% lower from those highs a few months ago. Despite this, we did see some bullish breakout at the start of February. In fact, at one point GALA reported 60% growth in less than a week. That bullish breakout has now slowed, and it seems the gaming token is sliding. 

We expect it to flatten at the $0.2-mark before bulls try to find any demand. Also, based on the charts and the recent price action, it seems any bullish uptrend for GALA is capped at $0.4.

Is Gala Games (GALA) a good buy?

Well, metaverse and blockchain gaming tokens are expected to remain some of the most in-demand assets in the market. While it is likely that we will see other stronger, more powerful metaverse projects in the future, there is no question that Gala Games is a big pioneer. For investors who want some exposure to this new virtual world, then it should be a decent option to buy.

The post Gala Games (GALA) could dip to $0.2 before any bullish uptrend appeared first on Coin Journal.

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Internet Computer (ICP) medium-term outlook – is $100 by 2025 even possible?

The general mood in the crypto market had started to change at the start of February. But increased geopolitical factors appear to be weighing down on sentiment right now. Despite this, the medium-term outlook for Internet Computer (ICP) is still bullish, and you will see why below. First, some highlights.

  • ICP is currently trading at around $18, up less than %1 in 24 hours.

  • Medium-term estimates suggest that the coin could hit $100.

  • However, there is a lot of systemic risks in the market right now.

Data Source: Tradingview

Internet Computer (ICP)

It is worth noting that Internet Computer (ICP) is a fairly new project, having launched in May 2021. But there was actually a lot of hype around it. In fact, ICP got immediate Coinbase and Binance listings. At one point during that craze, it traded for nearly $400.

But of course, hype eventually dies out, and as you would expect, ICP has crashed massively. It was trading at around $18.90 at press time. So, where does ICP actually go from here? 

Well, the $100 mark is not as far-fetched as it sounds. After all, it was not long ago that ICP hit highs of $87 in 2021. Also, the $18 mark appears to be the lowest we have seen with ICP. There is a chance that once sentiment in the market improves, we will see a surge in the price action.

Who should buy Internet Computer (ICP)?

Internet Computer is a highly scalable general-purpose blockchain that hopes to be the go-to ecosystem for Web3 apps. It’s not even a year old and has the potential of blowing into another Ethereum. 

So, if you are keen on buying smart contract alternatives to ETH, then you will find ICP quite decent. Besides, the fundamentals and the long-term outlook of this project are just incredible.

The post Internet Computer (ICP) medium-term outlook – is $100 by 2025 even possible? appeared first on Coin Journal.

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Vitalik Buterin: Crypto would “welcome” another winter

  • Vitalik Buterin says crypto winters help developers focus on projects and not the speculation that dominates during bull markets’
  • Weak projects fade away in bear markets, he added.
  • Bitcoin and Ethereum have seen major losses since touching their all-time highs in 2021.

Ethereum co-founder Vitalik Buterin has commented on the current crypto market outlook, noting in an interview with Bloomberg that a crypto winter would likely be “welcome” in the digital asset space.

“The people who are deep into crypto, and especially building things, a lot of them welcome a bear market,” he said.

According to him, many of these developers ‘welcome’ a crypto winter- a period where the markets experience a prolonged bearish run with crypto assets trading lower or sideways.

Bear markets are when weak projects fade away

In a bull market, many people get excited by the “long periods of prices moving up by huge amounts,” he noted. However, even as many people enjoy the soaring markets, it tends “to invite a lot of very short-term speculative attention.”

Commenting on why an extended bear market could be of benefit to the digital space, Buterin told Bloomberg:

“The winters are the time when a lot of those applications fall away and you can see which projects are actually long-term sustainable, like both in their models and in their teams and their people.”

The Ethereum co-founder’s comments on projects fading away mirror similar observations across the crypto industry. After the 2017 bull market and initial coin offering (ICO) boom, a bear market followed over 2018, with assets choppy till a new bull market set in 2020.

Of the hundreds of projects to launch and benefit from the hype that sent prices skyrocketing, the majority have since faded.

Buterin wasn’t categorical if the crypto market is indeed in a crypto winter already. However, his observations come as Bitcoin (BTC) and Ethereum (ETH) have led the broader crypto market in battling a brutal drawdown since late last year.

The crypto guru made the comments during the annual ETHDenver conference.

The post Vitalik Buterin: Crypto would “welcome” another winter appeared first on Coin Journal.