The current state of affairs in the crypto space is uncertain as many await the next crypto bull run. This has led to many (including experts and investors) asking the question, will crypto ever recover from the current market patterns? Investors have been concerned and reluctant to pursue investments in the space due to the extended bearish season. However, there may still be a glimmer of hope because experts have predicted that the next crypto bull run is looming on the horizon. With this in mind investors will be on the lookout for the best cryptocurrency to invest in 2019.
One project that is showing great promise, is the Basic Attention Token (BAT). The digital asset has risen by 86% in the last 30 days. It has seen a 101% price increase over the last 3 months. Now the 22-month-old protocol is ranked 24 on the list of top cryptocurrencies holding a $334 million market capitalization.
About the BAT Project
BAT is an Ethereum-backed digital currency dedicated to disrupting the digital advertising sector. It functions as an ad exchange network designed to connect users, publishers, and advertisers. Let’s take a look BAT’s potential to increase by 200% by year end. For BAT to achieve this its current price must reach $0.88 before the year ends. Market trends show the digital asset is actually on course to reach this point eventually.
What’s the Outlook for the Price of BAT on the Long Term?
BAT/USD recently reached $0.30 which is a resistance level. The market surged significantly after completing a bearish reversal in February 2019.
If BAT/USD breaks above the $0.30 resistance position, we can expect it to reach $0.36 and $0.40 which are higher resistance levels.
If the buyers continue to be bullish and manage to break above $0.50, we can expect more resistance at $0.55 and $0.59.
Above the $0.60 price position we can expect that the market will tackle the 618 Fib Retracement position which is $0.71. After this it will be free to test $0.88 completing the 200% increase.
Is BAT the best cryptocurrency to invest in 2019?
The long-term outlook for BAT shows that it arguably the digital asset with the potential to actually increase by 200% in the next 9 months and reach 0.88% by year end. The BAT market must first break above its current resistance position at $0.30 before moving above $0.50 to tackle the $0.88 position completing the 200% increase. The reason for this increase is the Brave browser.
A solution provided by BAT, Brave will tackle the issue of privacy. As the need for privacy goes higher, Brave is expected to be the first choice for users when it comes to privacy focused browsers. It will help increase the rate of adoption which will cause the market to drive higher. Brave will be an easier option for users considering that it is faster than its competitors. As more high-profile individuals recommend switching to Brave, BAT adoption will continue to increase.