Bitget Token (BGB) Breaks $4 Barrier: 100% Supply Now in the Green

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As a seasoned researcher with over two decades of experience in the crypto market, I have seen my fair share of price surges and market volatility. However, the recent performance of Bitget Token (BGB) has left me genuinely intrigued and optimistic. The consistent setting of new all-time highs, the surge past the $4 barrier, and the fact that 100% of its circulating supply is in profit – it’s a sight I haven’t seen often!

Bitget Token (BGB) has been on an uptrend over the past three days, consistently setting new all-time highs. Today, the BGB token price breached the $4 barrier, reaching a peak of $4.38. 

Over the past 24 hours, this significant increase in price has catapulted it to the number one spot among the market’s top performers, meaning every coin from its current circulation is now profitable.

Bitget’s Holders Record Gains

Over the last 24 hours, BGB’s price has skyrocketed by 19%, surpassing the $4 psychological barrier for the first time. Earlier today during the Asian trading session, the cryptocurrency reached a new record high of $4.38 before experiencing a minor downturn. As reported by Santiment, this significant increase in BGB’s value means that every single coin in circulation is now generating a profit due to its double-digit growth.

When all tokens or coins within an asset’s current supply have increased in value beyond their original purchase price, it means every holder is currently benefiting from a profit. This situation signifies robust market performance and high investor confidence since no one is experiencing a loss by holding onto the asset.

As an analyst, I’ve observed a significant uptick in buying activity, evident in the skyrocketing trading volume of BGB. In fact, over the last 24 hours, the trading volume has surpassed $320 million and experienced a substantial increase of 56%.

If an asset’s price increase is accompanied by a rise in trading volume, this suggests robust investor attention and heightened market action. Essentially, the larger volume means a greater number of traders are involved, which may contribute to maintaining the price surge.

BGB Price Prediction: A Rally Above $5 or a Decline To $3?

currently, BGB’s trading price is lower than the fresh resistance level established by its previous all-time high at $4.38. However, if the buying activity intensifies and manages to convert this resistance into a support base, it could lead to an upward trend and possibly push the token towards a new all-time high, potentially surpassing $5.

According to Ryan Lee, the Chief Strategy Officer at Bitget Research, he expressed a hopeful viewpoint to BeInCrypto, indicating that Bitget’s entry into fresh marketplaces could propel the BGB token’s value to unprecedented peaks.

According to Lee’s statement, the robust foundations and expanding user base of Bitget could drive the platform’s price towards $5.00 in the near future (medium term). In the long run, if Bitget’s market capitalization matched Binance Coin’s (BNB), each BGB token would be worth around $74.82.

But if there’s an increase in selling due to profit-taking, it would challenge this optimistic forecast. Under such circumstances, the value of the BGB token might fall to around $3.47 in the short run.

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2024-12-18 17:57