Bitget token (BGB) has been one of the top crypto gainers over the last month, with a 147% rise. It’s showing no signs of slowing down, either, up 11% in the last day alone.
But are further gains incoming, or should traders wait for a better entry point before buying BGB?
Bitget’s Recent Growth Story
Bitget was originally launched back in 2018 – and the crypto industry has been through many volatile phases since then. From dark and gloomy bear markets to sudden crashes, regulatory uncertainties, and the heady highs of the current bull run (which has seen Bitcoin pass $100,000), traders and investors have been through a serious emotional rollercoaster.
At the same time, Bitget has stayed with them all the way – showcasing true dedication to the industry, as well as their ability to skillfully navigate through every challenge the markets bring.
At this point, Bitget is expanding on all fronts, taking in everything from spot and futures trading to its flagship copy trading platform, trading bots, a new token launchpad, and more.
Bitget is especially notable for its willingness to embrace new innovative tokens and meme coins, providing its users with as many profit-generating opportunities as possible. This has proved an attractive proposition for everyone from large whales to degen traders, blue-chip crypto investors, and everyone in between.
As we’ll see in the next section, Bitget’s outstanding success shows through particularly clearly when we consider the price performance of its utility token, BGB.
Bitget Token Set for More Gains?
The BGB weekly price chart below (which uses BGB/USDT spot market data from the Bitget exchange itself) shows that this investment has paid off for long-term holders:
In fact, anyone who bought BGB over the past six weeks and held on tight has managed to benefit from a massively bullish move.
Zooming in further, and moving over to the BGB daily chart (shown below), we can make the following observations:
- The BGB price established a powerful uptrend before exploding upwards over the last couple of weeks, achieving a pump of approximately 120% since December 2.
- This move has been backed up with significant trading volume, indicating market conviction and support.
- The price is currently consolidating between $3 and $3.50.
- Even if the price did drop from this point, traders and investors would still have plenty of support levels to watch in order to buy the dip. For instance, the SuperTrend indicator shows strong support at approximately $2.40.
- BGB’s Relative Strength Index (RSI) reading does indicate that this token is currently overbought – which is normally a sign of an incoming dip. However, a dip could actually provide a healthy buying opportunity (as noted above), and some sideways consolidation would eventually bring the RSI down enough to justify a more bullish short-term outlook.
- With Donald Trump’s inauguration coming on January 20, 2025, it looks like BGB will benefit from healthy long-term price action regardless of its movement in the short term. Traders and investors have many strategic options to choose from, including range trading, dip-buying, or preparing for another push above $3.50 (which is certainly possible in the current overall bull market).
In short, BGB is a great crypto token to keep an eye on, and looks set to provide market participants with plenty of opportunities to profit – despite an already significant pump.
Based on BGB’s current price action, the most likely next price movements appear to be:
- Continued sideways consolidation, ranging between $3 and $3.50
- A dip towards $2.40 (most likely followed by a bounce and bullish continuation)
- A new all-time-high pump above $3.50 (after which the $3.50 level might flip from resistance into support)
Could Best Wallet Token Be a Better Alternative to Bitget?
Although Bitget Token is showing impressive recent momentum, those looking to truly maximize their profitability should consider Best Wallet Token ($BEST) – the native token of an increasingly popular Web3 wallet.
Best Wallet offers a variety of interesting features, such as the ability to purchase tokens for the most promising new crypto projects before they’re made available for trading. That means investors and traders can start accumulating tokens even before they appear on centralized exchanges like Bitget.
The wallet recently gained popularity for its Upcoming Tokens feature, which highlighted the potential of meme coins Catslap and Pepe Unchained before they saw huge pumps and netted big gains for early investors.
Best Wallet is currently holding a presale for its native $BEST token, which has already raised $4.5 million. Holding the token offers various benefits, such as reduced transaction fees, early access to new projects, and staking rewards with current estimates of 537% pa. Analysts, such as top crypto YouTuber ClayBro, have been quick to praise the project.
Best Wallet boasts 50% month-on-month user growth, and is on track to capture 40% of the $11bn non-custodial wallet market by 2026. This could see the $BEST token achieve significant price growth, making it an interesting opportunity.
