Basic Attention Token (BAT) – Update!! WHY THE SELL OFF???
Why has Basic Attention Token dumped after being listed on Coinbase?
155% increase in around 2 months, that’s a pretty big surge in price considering the bear market we have been in. With that in mind, a healthy correction was due. More and more people were buying the coinbase listing rumour, and of course once the news came out there was a sell off. Swing traders would have had sell orders set to take profits after the pump.
It could be tempting to buy now it's dipped a little, but it's not smart to get in on something when it has gone up like this, I would wait for the hype to die down before buying again. I mean look at XRP these last few days, so many fomo'ers buying in, then BOOM, huge sell off, little pump, then another sell off. I believe the same thing will happen with Basic Attention Token.
On another note, for us here in the UK, sadly, Basic Attention Token is NOT available on Coinbase.com, and neither is 0X.
Bit annoying to be honest, I'll find out why for another post. One would assume that it will be the same once they have listed CARDANO, STELLAR LUMENS AND ZCASH...we will have to wait and see.
Just a quick one tonight as I'm out on the beers, cheers!
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In my opinion, the reason for this is first of all, whenever something gets listed on Coinbase, it's seen as a huge move for adoption and liquidity for that crypto. The sell off is just people who do these Coinbase listing pumps and then book profit.
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Exactly...swing traders. We saw it with the 0x listing, and the same thing happened with BAT, although it was a lot worse with BAT
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