Basic Attention Token (BAT) survived the 2018 Crypto Winter. While many coins and tokens faded from existence throughout the year, BAT has risen to new highs. It now appears to be one of the fastest growing digital assets on the market.
BAT is the native token of the semi-decentralized Brave browser. The platform is scalable, flexible, and solves a problem that the $100 billion advertising industry couldn’t. They accomplished this by valuing privacy and quality over data and dollars.
In this analysis, we take a deep look at BAT and assess possible future price in 2019, 2020, and five years in the future after a summary of our most recent short-term price analysis of BAT/BTC:
Short-Term Analysis and Predictions for BAT/BTC
On Apr 21, 2019, BAT reached a high of 9400 satoshis. Prices subsequently dropped. Lows under 7000 satoshis were reached on Apr 23.
At the time our last analysis was performed, BAT/BTC was trading within a descending channel:
A rebound was attempted with highs of over 8000 satoshis reached on Apr 23 and 24. However, at the time our latest price analysis was completed, the price was trading around 7600 satoshis.
Are you curious about whether or not the price will go back up?
Oh Look, There’s More…
- The Purpose of BAT
- Brief History of BAT and Brave
- Team Information
- Basic Features of BAT and Brave
- Intended Audience
- Technical Analysis
- BAT Price Prediction 2019
- BAT Price Prediction 2020
- Conclusion: BAT Long-Term Price Prediction
The Purpose of BAT
Basic Attention Token seeks to disrupt the online advertising industry.
Over 50 percent of the world’s 7.7 billion people are online. Reports indicate that North Americans have the highest rates of internet usage, with 89 percent of people using the internet. Europeans are close behind, at 86.6 percent. These numbers explain why digital advertising is a $111 billion industry in the United States alone.
The Problem BAT Seeks to Solve
With all of this money on the line, digital advertisers should have their craft down to an exact science. Unfortunately, this is not the case. Advertising is one of the few industries where, under current conditions, customer and service provider both lose.
According to data, as much as 73 percent of all advertising dollars end up in the hands of middlemen. In this case, the middleman position is shared by Google, Facebook, and other similar multi-national conglomerates.
Google has been a major contender since 2012 when executives cited exceptional profitability without providing specific numbers. Lack of solid data notwithstanding, the launch and rapid dominance of Google Chrome sent browser profitability into the stratosphere.
The majority of the browser’s earnings are in advertisements.
Not only that, advertising metrics are inefficient and inaccurate. Ad impressions, or the number of times a page is loaded, are heavily biased toward quantity over quality.
Furthermore, high numbers of impressions do not even mean the ad was seen. It just measures the page was given a signal to load the ad. Thus far, advertisers have been unable or unwilling to measure view quality.
Enter Brave, a blockchain based—decentralized web browser—and its native Basic Attention Token (BAT).
Built on the Ethereum blockchain by seasoned IT and blockchain pros, Brave aims to remove the online advertising middleman and increase advertising efficiency for advertisers and consumers alike.
Brave is designed to offer simple solutions to these massive problems:
- Utilizing ”user attention,” the Brave has implemented new metrics for ad exposure. These metrics measure actual time spent viewing ads. They also measure time spent on sites, with longer times incurring higher value.
- Brave automatically blocks standard trackers, malevolent advertisements, and other privacy-compromising features standard in typical browsers.
- Using Brave, the end user is given the option to view ads. Those who do enable ad viewing on their Brave browser are rewarded in BAT.
Brief History of BAT and Brave
An initial coin offering (ICO) for BAT took place on May 31, 2017. It is reported that all tokens were purchased within 30 seconds for $35 million. BAT began trading in July 2017—the same month the Brave browser launched.
The premise of utilizing distributed ledger technology to produce a decentralized ad exchange network, enabling fast, open source web browsing with a strong focus on privacy was clearly a popular one.
BAT is currently code-complete and used on the Brave platform to receive and reward customer attention.
The Brave team boasts some notable accolades. Co-founders Brendan Eich and Brian Bondy are both established IT visionaries. Their participation on the team provides an immediate competitive advantage over many similar projects.
Eich was a co-founder of Mozilla and has made it clear that his focus is on bettering the world through technology. By eliminating the need for third-party online advertising giants, Brave and BAT may be able to facilitate this.
Bondy has an equally impressive pedigree. Prior to co-founding Brave, he was a software engineer at Khan Academy and the creator of Code Firefox.
Additionally, the team is deep. Led by 16 core members, the Brave team is filled with executive, engineering, and advertising pros. In addition, it is supported by an advisory panel of investors, blockchain influencers, and business executives.
Brave is backed by a solid lineup of investors, including Founders Fund, Foundation Capital, Danhau Capital, DCG, Huiyin Blockchain Venture, Pantera Capital, and Propel Venture Partners.
In addition, as of January 2019, post-cable media group Cheddar is offering free three-month premium subscriptions for Brave platform users.
Tap Network also came on board in Q1 2019 to provide rewards redeemable in BAT. Brand partners include Amazon, Apple, and Starbucks.
Furthermore, Dow Jones Media group has been testing the efficacy of blockchain technology using Brave since 2018. Other major partnerships include Civic, HTC, Qwant, and Townsquare.
On April 14, 2019, the Los Angeles Times announced a partnership with Brave as a verified publisher. This was huge news for the browser, as the LA Times is one of the most widely read newspaper sources in the United States.
Following this announcement, BAT prices went up another $0.05 USD to $0.36 USD. In this case, the price increase could be indicative of increasing exposure and adoption throughout the blockchain industry and traditional news sources alike.
Basic Features of BAT and Brave
Brave has produced a fresh approach to web browsers, eliminating tons of pain points for end users. Inconveniences like wasted time and wasted battery life are no more. More importantly, Brave offers significant improvements to users privacy by eliminating trackers and blocking malware.
Brave does monitor user data, but it claims to do so anonymously. This is a clear improvement over other systems. However, data monitoring—even anonymously—can be considered an overall weakness.
The BAT token is the conduit for payments across the advertising platform. Advertisers, publishers, and even users are paid in BAT.
Most importantly, the entire platform centers around user attention. Ads are specifically targeted to each user via the data collected and stored on the ledger. This is fantastic news for users and advertisers alike.
Both parties get exactly what they want.
The browser is available for both iOS and Android devices. At the time of writing, the Brave browser was approaching 10 million downloads on Android devices.
This level of visibility for such a viable product is exciting, as it indicates that Brave, like so many other blockchain businesses, is finally normalizing. Even users who aren’t also cryptocurrency investors are seeing the Brave browser as a valuable alternative for daily activity.
In offering a blockchain-based browser with digital advertising decentralization to the world, Brave has some pretty ambitious goals.
The goal, really, is to reach everyone in the world who uses the internet. This is really what any advertiser would want.
The only difference between Brave and Facebook or Google is that the connection between advertisers and audience is direct. Brave has eliminated the middleman in order to provide users with a more focused digital ad experience.
As we stated earlier, this is not the first time blockchain entrepreneurs have ventured into the complex world of advertising. The nature of advertising lends itself to blockchain functionality solutions.
However, the reality of the situation is daunting. Facebook and Google enjoy billions of dollars in annual profit directly from advertising. That level of competition requires strong focus, relentless ambition, and most of all, a brilliant product.
Brave’s claims to block all malicious advertising—including malware, intrusive ads, and trackers—give the browser possible mass appeal.
Even users who are unfamiliar with malware and tracking software can clearly see the benefits of not having ads pop up and block their entire screen during every search.
Digital Asset Competitors
Several blockchain tech firms are seeking to provide solutions to intrusive advertisements and poor audience selection. They are direct competitors to Brave and BAT and include:
- Amino Payments which have developed a blockchain based payment system between advertisers and publishers
- AdChain which acts as an organic, human-curated list of ad-supported websites
- IBM which is developing blockchain-based technology to eliminate fraud.
Traditional Industry Competitors
Brave has set itself apart from the competition in a pretty audacious way. By launching a replacement browser, Brave has the potential to negate the power of Google Chrome and its unprecedented profitability as a third-party advertising behemoth.
It also can disrupt the advertising power of other giants like Facebook, Apple, Amazon, and many others.
BAT has been on a wild ride since its 2017 ICO.
Six months after its birth, the cryptocurrency bull market of late 2017 early 2018 pushed many cryptocurrencies and digital assets to all-time highs. Bitcoin reached $20,000 during this period with many altcoins also following suit. Most of these have already proven unviable for long-term success.
Despite also reaching highs during the 2017/2018 bulls, BAT has yet to break USD($)1. However, it did reach an all-time high of over $1 on Binance on Jan 8, 2018. This marked an astonishing growth of nearly 640% since its July low of $0.06.
On Apr 2, 2019, saw BAT prices hit $0.30 USD. It has remained above $0.30 ever since, emerging as a frontrunner amongst small-cap cryptocurrencies. The price has continued rising throughout the month and even breached $0.50 on Apr 21.
Currently, BAT appears to be one of the best performers of 2019 so far.
BAT 2019 Price Prediction
Recognizing the inherent volatility of cryptoassets, we at Bittabi are reluctant to make blanket statements about any token’s future performance based on numbers.
However, RSI continues to be a proven indicator of the overbought or oversold status of any assets, including tokens.
BAT is no exception. After exhibiting an immensely profitable first quarter 2019, BAT’s RSI approached 60 in mid-April. While this is not in the over-valued territory, we do suggest caution and careful attention to any investments in the coming weeks and months.
Despite potentially negative RSI evaluations and continued uncertainty surrounding the future of the overall cryptocurrency market, BAT token could reach prices of $0.60 or above in 2019.
We do not believe BAT will not exceed its all-time high form January 2018. However, this possibility cannot be ruled out. If BAT continues garnering attention, developing partnerships, and attaining adoption, prices could potentially skyrocket before year’s end.
However, to the traditionally conservative forecasters at WalletInvestor.com predicts that BAT may actually lose value in the next 12 months. Wallet Investor expects prices will drop to $0.277 USD by the end of the year.
BAT 2020 Price Prediction
BAT token prices in 2020 may hit or even exceed $1.00.
We make this prediction based primarily on current market movement. It also appears as if blockchain technology is being more readily accepted within various industires including online advertising. The need for a solution to the problems defined above also suggests that BAT may hit new all-time highs by 2020.
More conservative estimates see BAT achieving relatively stable prices areound $0.35. It is possible that successful adoption may lead to steady prices, but the $0.35 level seems rather low. We expect Brave and BAT to continue growing throughout the 2020s.
Conclusion: BAT Long-Term Price Prediction
Cryptocurrency forecasting site coinswitch.co has BAT token hitting highs of only $0.65 USD in 2023. This is $0.33 USD lower than the all-time high of January 2018 and seems unlikely.
At the risk of sounding bullish, we expect BAT prices to continue in this upward trajectory over the next five years. We can foresee highs of $3.00 being reached 2023. However, it is unclear if the price will stagnate at this level.
Ultimately, the price of BAT is likely to experience volatility throughout the long-term period. While Brave is up against literal giants, what the team offers is a solid, honest solution to the fundamental problems in advertising. For this, we believe that BAT and Brave are gauged for long-term success.