BAT coin price prediction: What will happen to Basic Attention Token?
Basic Attention Token (BAT) performed very well in 2021, but what does the future hold in today’s bear market?
In this forecast
- The problem with online advertising
- From the BAT whitepaper
- Brave and BAT
- The story so far
- BAT price prediction for 2022 and beyond
- FAQs
Basic Attention Token (BAT) is one of the more interesting cryptocurrencies out there. Here, we explain how the token came to be and look at what the future may hold, before looking at the latest Basic Attention Token price prediction.
The problem with online advertising
In 2017, around $240bn was spent on online advertising. This was the first time that digital advertising budgets outstripped those lavished on traditional print, billboard and broadcast ads.
Online advertising had become a major industry, but the problem was that people did not seem to pay online adverts much heed. Different formats were tried, including irritating pop-up ads that most users raced to close as quickly as possible.
There was also the matter of privacy. Some websites analysed what their users were searching for online. That is not illegal, but many consider it unethical, especially if personal data is sold to another company. Things were not working as well as they should.
From the BAT whitepaper
According to the BAT whitepaper: “Digital advertising is broken. The marketplace for online advertising, once dominated by advertisers, publishers and users, has become overrun by ‘middleman’ ad exchanges, audience segmentation, complicated behavioural and cross-device user tracking, and opaque cross-party sharing through data management platforms.”
One potential solution to the issue was offered by the Brave web browser and the Basic Attention Token.
The aim of BAT is to become “a payment system that rewards and protects the user while giving better conversion to advertisers and higher yield to publishers”. BAT and its associated technologies are “part of future web standards, solving the important problem of monetising publisher content while protecting user privacy”.
Brave and BAT
Brave was founded in 2016 by Brendan Eich, the software developer who created JavaScript and founded the Mozilla project. The web browser was designed to block ads and trackers by default. It was an open-source code project and aimed to protect the privacy of users. The browser also incorporated support for Basic Attention Token (BAT) as a method of payment.
Basic Attention Token is based on the Ethereum blockchain network and is used as a utility token. The idea behind it is relatively straightforward.
People can choose to watch adverts via the Brave web browser. If they do, they receive a small payment in Basic Attention Token. A system called Brave Payments determines a user’s ad consumption as they browse, automatically calculating how much people get at the end of each month based on their time spent viewing content.
Users can also make specific contributions regardless of time spent viewing content, in much the same way as they can support creative content providers through a platform such as Patreon.
Advertisers can buy advertising space and therefore user attention with BAT, while content creators and publishers receive fees and advertising revenue, also paid in Basic Attention Token.
So, that is the overview. But what has happened with its price? Can we use it to make a BAT price prediction?
The story so far
Basic Attention Token was launched on 31 May 2017, after an initial coin offering saw it raise $35m in under 30 seconds. Although it fell to a low of $0.06621 on 16 July, it recovered and was trading at $0.2444 by 2 September 2017.
A series of peaks and troughs followed before it rocketed at the start of 2018, reaching $0.8482 on 8 January that year. It soon came back down to Earth, though, and the token spent the next three years hovering somewhere between $0.10 and $0.40.
However, like a lot of cryptocurrencies, things started to change for the BAT coin in 2021. A growing coin market benefitted Basic Attention Token, and it shot up in value.
It started the year at $0.2051 and, as the market sped up, its value grew. It stood at $0.3022 at the end of January and by 28 February 2021, it was worth $0.5193. March was even better for the Basic Attention Token price. It reached an intra-day high of $1.37 on 18 March. It was down to $1.18 at the end of the month, but its price was still up by just over 475% over the course of three months.
Things further improved in early April, and it reached an all-time high of $1.65 on 9 April 2021. However, the market then seemed to correct itself and this, coupled with the great crypto day crash of 19 May, meant the value of Basic Attention Token was down. It reached a low of $0.5626 on 23 May 2021 (a drop of 66% in around six weeks), before heading back to $0.7617 on 4 June.
It then dropped to $0.46 on 20 July 2021, before peaking and troughing over the next two months, reaching a high of $0.98 on 5 September and then a low of $0.58 on 28 September. On 31 October 2021, the price was trading at roughly $1.09. An impressive peak on 27 November 2021 saw the token hit a new all-time high of $1.77, but the price readjusted itself and BAT was worth around $1.19 by 30 December 2021.
The start of 2022 was slow for crypto markets, and the coin continued on a general downtrend. By 19 January, the coin was trading at roughly $0.96, falling further to lows of $0.66 by the end of February.
On 7 March, the coin was trading at a four-month low of under $0.62. However, the coin made some headway in the markets, and fleeting signs of a recovery piqued the interest of prospective investors. From that price point, the coin saw a general uptrend to highs of around $0.97 on 3 April, but the price has since drastically retreated following a market-wide crash in May, hitting lows of around $0.35. Another major crash in June saw Bitcoin dip to its lowest levels since December 2020, and BAT sunk to $0.26.
However, a steady uptrend can be seen since those lows. Closing on 30 June at $0.39, and on 31 July at $0.40, by 12 August the token was trading at $0.46.
That is what has happened so far. But what about the future? Here is what some people are saying in their BAT price prediction for 2022 and beyond.
BAT price prediction for 2022 and beyond
When it comes to the future, there are several different BAT price predictions out there, though they may fluctuate.
For instance, Gov Capital’s BAT price prediction suggests a price of only $0.41 by the end of September, but spike in value in late October and pass the $0.50 mark. The site then suggests there will be a general uptrend to around $0.67 by the end of December. In August 2023, the coin is expected to break the $1 barrier.
The site also makes a BAT price prediction for 2025, suggesting the coin will break the $3 mark in November of that year.
WalletInvestor predicts BAT will reach $0.65 in a year’s time and $1.47 in five years’ time.
DigitalCoinPrice’s BAT price prediction suggests the coin will be worth $0.60 in September this year, and $0.65 in December. The site also predicts the coin to be worth $0.66 in one year, and forecasts average values of $0.72 in 2024, $0.88 in 2025 and $0.81 in 2026. The site’s BAT price prediction for 2030 is $2.15.
Most optimistic, Ripple Coin News argues that BAT could reach $15 by the end of 2025, owing to its relative stability in volatile markets, stating: “BAT has helped to build a niche ecosystem as internet advertising has been unsuccessful over the years. The Brave browser solves all challenges and thus massively expands its base of users.”
As always, you need to remember that predictions are not always accurate and that cryptocurrencies are highly volatile. The value of your investment can go down as well as up, and you should never invest more money than you can afford to lose.
FAQs
Is BAT a good investment?
It may be, it may not. As ever, you should do your own research and remember that cryptocurrencies are highly volatile. The value of your investment can go down as well as up and you should never invest more than you can afford to lose.
What will BAT be worth in 2025?
It depends on which BAT coin price prediction you follow. For instance, DigitalCoin thinks it will be somewhere around $0.88. Meanwhile, Gov Capital suggests $3 in November of that year.
Again, these are just algorithmic and technical predictions; the figures are not set in stone and past success does not guarantee future profit.
Can BAT reach $100?
It is possible that it could, but if it does, it is unlikely to be for a very long time. For it to do so, the price would have to rise by around 22,000%.
As it is, the most optimistic BAT coin price prediction says it will reach $15 by 2025, which would represent an increase of 3,200%.
Where to buy BAT coin
If you want to buy BAT coin, you can do so at a range of exchanges. You can either purchase it using fiat currency or by exchanging some of your cryptocurrency.
If you do not want to pay for it, you can also use Brave and sign up to the browser’s wallet. You get paid in Basic Attention Token whenever you watch an advert on the browser.
