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It pays to be early in crypto. But if you can’t be early, you can still make money from being lateprovided you’re not the last one in the door.
No one wants to exit liquidity for tokens that have pumped massively, making their early adopters wealthy while leaving laggards to fight over single percentage-point gains.
Just like exchange tokens such as BNB and KCS, Bitget’s BGB has pulled four-figure profits for those with the luck or wisdom to buy early and ‘hodl’ hard.
The asset has increased by over 3,198% since its launch, according to CoinGecko. But what’s interesting about BGB isn’t so much the journey it’s completed but the one which lies ahead.
A closer look at its chart suggests there’s plenty more still in the tank.
The trend is your friend
It’s easy to glance at a chart and infer project strength from the rocket ride of its token. However, monumental gains crypto market at the time.or losses must be viewed against the context of the broader
After all, anyone can make money in a bull marketven garbage will go up. It’s during less confident economic times that true tokens are forged.
When examined in this context, BGB’s performance for the year to date has been impressive, to put it mildly. It’s been a year of ups and downs and of deep uncertainty, both from a regulatory perspective and an economic one.
With rumors of Silk Road and Mt. Gox Bitcoins flooding the market in the near future, coupled with a sluggish global economy, it’s no surprise that BTC is up just 65% for the year to date.
Over the same period, BNB is up a mere 26%. Remarkably, BGB is up 160% over the same period.
The performance of BGB during a capricious 2023 can be attributed to a number of factors.
Firstly, there is the strength of its parent exchange, Bitget, which has continued to grow its user base and expand its trading products, all of which have filtered down into increased demand for BGB.
The fact that the majority of the liquidity for BGB can be found on Bitget and Bitfinextwo tier-one exchanges has also supported stability, with the token becoming a low-volatility staple for traders to seek refuge in during market uncertainty.
This has effectively served to limit the downside to holding BGB, while retaining all of the upside.
In other words, when the market kicks up a notch and confidence floods back, BGB can run with the best of them.
How high before…
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