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Basic Attention Token (BAT) Technical Analysis – BAT Nears A Golden Cross

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Basic Attention Token
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Basic Attention Token (BAT) is an open-source, decentralized digital advertising platform based on Ethereum (ETH). BAT held its ICO nearly a year ago on May 31, 2017, raising approximately $35M in less than 30 seconds, quite a feat. The Token itself is designed to correctly value and price user attention within the platform.

The Basic Attention Token digital advertising platform is comprised of various components, including a digital advertising exchange, attention measurement systems, analytics dashboards and machine learning algorithms. Integration of BAT into a given host application involves implementing BAT Ads, a system that matches and displays ads to users based on locally stored data. Ad targeting is performed wholly on-device, removing the need for third-party tracking.

The BAT Utility Token is designed to monetize human attention with a pay to surf business model, serving as the unit of account within the platform:

  • Advertisers purchase advertising space and user attention on the platform with BAT tokens.
  • Publishers receive user contributions and advertising revenue in the form of BAT tokens.
  • Users will be paid in BAT for viewing BAT ads.

Elements of the Basic Attention Token platform have been integrated into the Brave web browser as part of its Brave Payments program. Brave Payments, which formerly used Bitcoin (BTC), allows users to tip websites and content creators such as YouTubers and Twitch streamers with BAT tokens, akin to patronage services like Patreon.

Notable publishers who accept BAT tokens include the Washington Post; The Guardian; Vimeo; MarketWatch; Barron’s and Vice. Quite the distinguished clientele.

With that behind us, let’s take a look at the technical picture as BAT continues to display favorable technical characteristics as we can observe from the daily chart below:

As we can witness above, after breaking-out in mid-April on six-times – 6X its average daily volume, BAT continues to display favorable technical characteristics trading above both its 50 (dark blue line) and 200 (red line) day moving averages.

We can also observe that the 50DMA appears ready to cross up-and-above its 200DMA, which should such development materialize in the days ahead, would signify the notable Golden Cross, another technical positive for BAT.

While BAT remains in a favorable technical posture, there remains further work ahead as BAT presently finds itself contending with a former congestion zone highlighted in the shaded box observed above.

Thus, moving forward, both investors/traders may want to pay particular attention to potential levels of short-term resistance as well as support in order to garner additional clues/evidence with respect to direction.

If, at any time in the days/weeks ahead, BAT can clear the .45-.50 zone and perhaps, more importantly, the .55 (recent high) level, such development, should it materialize, would more than like set the stage for its next meaningful advance with a potential objective into the .70 area. On the flip-side of the coin, both investors/traders may want to utilize the .32 level as a potential area of short-term support, which just so happens to coincide with its 50 and 200DMA’s.

Nevertheless, despite overall slippery conditions throughout the cryptocurrency tape, BAT continues to stand-out from a technical perspective, whereby investors/traders may want to continue to monitor the action with a close eye moving forward.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Chart courtesy of tradingview.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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