Betting on BAT

Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend.

To learn more about this project, check out COINMARKET’s deep dive of Basic Attention Token.

This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. On the other hand, advertisers can deliver targeted ads to maximize engagement and cut down losses due to ad fraud and abuse.

The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users — whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.

Basic Attention Token launched in 2017 following one of the fastest sell-out initial coin offerings (ICOs) of all time, with the platform raising a total of $35 million in under a minute. Since then, it has rolled out its attention-based advertising experience to users in most countries through its Brave Rewards program.

As of November 2020, the United States, the United Kingdom and Canada had the most active advertising campaigns

Basic Attention Token has two founders: Brendan Eich and Brian Bondy — two highly distinguished individuals in the internet browsing software industry.

Brendan Eich is the CEO of Brave Software, Inc — the parent firm behind the Brave browser and Basic Attention Token. Prior to his role at Brave, Eich was the founder and CTO of Mozilla and also invented JavaScript in 1995. He also helped launch one of the world’s most popular web browsers in 2004 — Mozilla Firefox.

Likewise, Brian Bondy joins as Brave’s and Basic Attention Token’s CTO. Bondy is a heavily experienced engineer with previous experience working as a senior software engineer at Mozilla, software developer at Corel Corporation and software development lead at Khan Academy. Together, Eich and Bondy have a combined 50+ years of software development experience.

Why we are bullish & What is the trade ?

The primary use case for the Basic Attention Token is as a payment token for running advertising campaigns through Brave Ads. As of November 2020, advertisers must commit to a minimum ad spend of $2,500 per month to be able to launch their campaign, but a self-serve platform with potentially lower limits is currently in the pipeline.

Currently, this advertising budget must be paid entirely in Basic Attention Tokens, which advertisers can acquire from a variety of third-party exchange platforms. Out of this, Brave takes a small commission, and the rest is distributed to publishers and users.

One of the main distinguishing features about Basic Attention Token and the Brave Browser ecosystem is the capacity to reward (tip) users who are not yet part of the network — this includes both websites and individual Twitter users. These users can then securely register to the platform to collect any tips they have accumulated.

Both Basic Attention Token and Brave Browser have achieved significant user uptake since their launch. As of October 2020, Brave Browser has a total of 20.5 million active monthly users, whereas the Basic Attention Token is now held by a total of more than 368,000 unique wallets. Source (coinmarketcap)

BAT is probably the only token of its kind in the market and is getting popular by the day. Considering the background of the promoters behind this, it will only get better by the day. However our current bullishness comes from its Technical Setup. If you are not familiar with Technical Analysis, you should consider taking our Technical Analysis course that is launching soon. Lets check our rationale for the bullish bias. 

We are interested in BUY & HOLD for Mid Term as well as Short Term Swing Play

After spending nearly 6 Months in the 0.46 – 0.96 range, BAT is finally breaking out above that area. If you are not familiar with Breakouts, consider joining our Intermediate School (Launching Soon). We believe 0.90 – 1.00 is a good area to enter for short term 20-50% move. On downside we can still drop to 0.70 area if Bitcoin dumps for any reason. Now if that happens, that will be a blessing as we will buy more in that zone. We will Swing between 1 & 1.40 area until we break All Time High above 1.64. Once that breaks we aim 2.17 area as our first target resulting in over 200% move from current levels. In terms of timeframe for this trade, we will hold it for 4-12 weeks and revisit the technical setup if bottom support trendline breaks down. We may close if the trend breaks down below. In short this is not MANA so it wont move so fast but it still has legs to it. As always do your own research & always manage RISK. BAT managed an impressive move  2000% last year. 

Here is the Previous 2000% Move last year. Lets see what we get this time around

Quick Update on MANA & SAND

We continue to remain mid term bullish MANA & SAND. We have added a position for both and adding more on every major dump. Dumps are not necessarily bad for coins like this. That can be a perfect opportunity to enter strong trends. MANA 2-3 Area is a good loading zone. SAND was good between 1.30 – 1.75. We intend to HOLD until we break new highs. They may take sometime and we may get some consolidation before the next big move (Well sometimes we can get that big breaking move even before i post this:) As always we will keep watching and change our views if price action changes & trend breaks down. For now we assume an initial HOLD Period of three months. We will ride the trend and close only when trend breaks down.

Remember we are buying MANA since the first breakout and milking the Trend since. We will keep milking this trend until its over. This is what you do when you find strong trends. Keep entering and exiting on Key Support & Resistance but be in the trade on  an overall basis until trend shows signs of exhaustion.

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