BAT Price Prediction 2023: Market Analysis and Opinions

The Introduction of ad-blocking software was a nightmare for traditional publishers as millions of internet users use the app on almost every internet-enabled device. However, Basic Attention Token (BAT) came to the rescue after creating a transparent and decentralized advertising experience. The platform is designed to provide publishers with a revenue pipeline and gives ad viewers a share of the token spent on the advertisements.

BAT is an Ethereum-based cryptocurrency created to revolutionize digital advertisement. It is designed to match advertisements with viewers likely to purchase the advertised products, protecting its users’ identities as well as eliminating fraud risks. It holds the record of the fastest sell-outs for an initial coin offering after making $35 million within a minute after launch. However, it was bought by only 130 people, with half of its supply going to 5 people. As a result, BAT is not decentralized like most other coins in the market.

BAT Price Prediction | Introduction

When this price prediction was written, BAT was ranked at position 86, trading at $0.1713 per CoinMarketCap. At this price, the market cap of the BAT was $257,497,104, fully diluted to $257,800,333.

Although BAT runs on the Ethereum blockchain, it has had more significant success than Ethereum. Since its launch in 2017, it has attracted millions of verified content creators, such as Wikipedia, the Washington Post, The Guardian, and the 50 Cent registering for its rewards.

In addition, BAT stands out from its competitors for its ad-blocking shields and ability to measure user attention. Blocking advertisements and trackers enables it to load faster than its competitors. Its existence has created an efficient marketplace distinguished by more innovative opportunities that allow advertisers to reach worthy customers.

Although it still holds the record of being the first crypto app to attract millions of users, it still pushes on to achieve more. Let’s look into its price prediction narrative deeply.

BAT Price Prediction: Technical Analysis

Let’s analyze the recent price action of BAT before looking at its price prediction. The table below shows the BAT price actions from July 2022 to December 2022.

BAT Price Prediction: Market Opinions

BAT has seen a gradual fall since July 2022. Although trading experts predict it will show a massive surge, it has consistently reflected a downward movement over the past six months. So far, it has dropped to as low as 0.16030 by Dec 2022, contradicting many trading giants that predict its rise in the coming years.

If other cryptocurrencies, such as Bitcoin, will not stabilize, BAT coin might crush further in 2023. If Bitcoin attains stable trading prices, BAT will see an upward move and achieve a higher resistance level.

Although the BAT’s current prices are alarming, an upward movement might restore hope for its traders and give the upward price prediction some sense.  For example, Gov Capital suggests that the BAT coin will see a general uptrend up to $0.78 in 2023. 

Walletinvestor, on the other hand, predicts a downward movement of the BAT coin, suggesting that its price might decrease in 2023, making it a bad option for long-term investment. Digitalcoinprice has, however, predicted an uptrend of BAT coin, implying that its value will increase in 2023, possibly hitting $0.36 by the end ofthe year. 

While several platforms provide uptrend predictions, it is vital to note that cryptocurrency is highly volatile, and no forecast is accurate. Therefore, it is crucial to invest wisely, knowing that your investment can go either side, upward or vice versa.  

BAT Price Forecast for January– February

Walletinvestor predicts that the BAT coin will continue falling in the following months. Since this trend is persistent, Walletinvestors’ daily analysis classifies the BAT coin as a high-risk investment for traders looking for long-term investment opportunities.

Gov Capital also suggests a downward trend in January and February, with the best possible prices ranging from 0.2277 in January and 0.13915 in February. This means it is still risky to consider the BAT coin for a long-term investment. 

Cryptocurrency Experts and Influencers

According to the founder of Ark Investment Management, Cathie Wood, there is still hope that bitcoin will hit $1 million by 2030. Wood believes in the bitcoin’s significant dominance and urges investors to overlook short-term price predictions.

Mark Moss, a crypto influencer and honest analyst beliefs that the current green signals are not strong enough to be considered bullish. He doesn’t believe a bull market will come by anytime soon.

FAQs

BAT Price Prediction: Verdict

The above analysis shows a consistent downtrend of the BAT coin. However, with its potential to achieve massive users, there is still hope for an upward movement, as most crypto publications predict. That said, investors should consider thorough research and experts’ opinion before investing in cryptocurrency.