• 10x Market Updates
  • Posts
  • Why is BGB token up +16% in just 3 days? Closing BGB trading signal

Why is BGB token up +16% in just 3 days? Closing BGB trading signal

Institutional Crypto Research Written by Experts

πŸ‘‡1-7) Although we rarely overwrite trading signals, in the current market environment that suffers from a lack of upside momentum and follow-throughs, we would encourage to take profit on signals early – primarily if the signals have worked quickly despite a longer implied duration and if they are timed with announcements that could see mean reversion of the move.

πŸ‘‡2-7) As long as Bitcoin remains range-bound, altcoins may also go sideways.

πŸ‘‡3-7) There are enough reasons why altcoins have underperformed during the last few weeks. Notably, this cycle lacks VC money and large unlocks from early investors (teams, VCs, etc.). However, there is also a lack of visionary execution that excites new investors and a generally low engagement from retail investors, as reflected in shallow trading volumes.

πŸ‘‡4-7) Three days ago, our trading signals generated a buy signal for BGB-USDT, which has worked every time it has been generated over the last ten times (here).

πŸ‘‡5-7) The signal coincided with Bitget introducing the Bitget Wallet’s BWB token on its Launchpad platform. BWB is the official token of the Bitget Wallet. The BWB token sale scheduled from June 1 to June 6 will feature both BGB and USDT purchase zones, each with a quota of 5 million BWB tokens.

πŸ‘‡6-7) Bitget users can participate in the BWB sale by contributing the BGB token. That’s why the BGB token price is up +16% in just a few days. Considering that the peak demand (for BGB) might be in early June, we would recommend taking profit on this trade (now at 1.45 BGB-USDT) vs. the original entry price of 1.25 (+16%) as demand for BGB might decline after the peak BWB sale.

πŸ‘‡7-7) 10x Research has preferential trading terms on Bitget; to sign up, please use the link below.