Much like the rest of the market, the Basic Attention Token (BAT) has also taken major hits in terms of price and growth potential. The coin managed to have some surges here and there within the week, but this plummet looks like to be the decisive one for BAT.
Every indicator is currently showing that the short and mid-term prices of BAT are going to either remain frozen on the $0.3 mark or continue falling down with a 1% loss nearly every day.
The daily MACD indicator is also quite neutral with the coin, preventing traders to draw a decisive conclusion on what to actually do with the coin.
As of this moment, the BAT will most likely fall down to the $0.3 price point, but start facing at least some kind of resistance from the bulls. Even though the coin may not have a future anymore due to Facebook’s Global Coin, traders are still determined to keep it alive.
Therefore, if the coin falls below $0.3, it will be like the ground disappearing from its feet as it will most likely continue to plummet even further.
When it comes to fundamental analysis, many traders are also looking at a bleak future for BAT. The introduction of Facebook’s local cryptocurrency, which actually turned out to be a stable coin is guaranteed to take away much of the trading volume from BAT.
Even though it’s not confirmed whether Facebook’s crypto will target the ad space, it’s still the most relevant assumption. Not only will Global coin gain much more traction, but it will also have much more exposure to the crypto sphere.
The BAT will most likely not disappear as there will still be some digital marketers who’d like to use it but, in terms of growth, it’s going to be really hard to even ride the future Bitcoin bull waves.