Bitget Token (BGB) has seen quite a surge this month, surging 430% and hitting an all-time high (ATH) in December.
Although there is currently a lot of profit-taking pressure, some altcoins still maintain strong gains and prices continue to rise. However, investor confidence remains strong and a large-scale sell-off seems unlikely.
Bitget token holders remain bullish
In the past 48 hours, the DAA divergence indicator of BGB's price has issued a sell signal, indicating that investors' profits are increasing. As the price continues to rise, some holders may choose to cash in their profits, which may temporarily interrupt the upward momentum.
Despite the sell signal, the overall sentiment remains positive. BGB’s performance this month has attracted a lot of attention, but considering that altcoins have risen too quickly and may face short-term selling pressure, investors are closely watching market signals to see if there are signs of a trend reversal.
The macro trend of Bitget Token (BGB) shows that long-term support from HODLers is very strong. The proportion of supply held by long-term investors has increased by 11% in the past month. These investors usually hold assets for more than a year and play a vital role in stabilizing prices and maintaining market confidence.
The growing group of holders shows that the market is confident in the long-term potential of BGB, and this support effectively offsets the risk of short-term selling. With strong fundamentals, BGB has the ability to resist short-term declines caused by profit-taking, and the overall bullish outlook remains solid.
BGB Price Prediction: Continue to Set New All-Time Highs
Bitget Token (BGB) has risen 44% in the past 24 hours, reaching an intraday high of $8.49. This is the fourth time that BGB has hit a new all-time high in just one week, showing its strong momentum and high attention from investors.
During December, the price of BGB surged by nearly 430% and is expected to continue rising. If this growth momentum continues, BGB may soon break through the $10 mark, further consolidating its leading position in the cryptocurrency market.
However, the risk of profit-taking remains. If selling pressure intensifies, BGB’s price could correct back and even fall to $4.90. Such a decline could affect its bullish outlook, highlighting the importance of sustained buying support to sustain the upward momentum.