Bitget Token (BGB) has captured the spotlight with an extraordinary 430% rally over the past month, culminating in a new all-time high (ATH) of $8.49. Despite looming profit-taking concerns, strong investor confidence continues to drive BGB’s meteoric rise.
Investor Conviction Fuels BGB’s Rally
The Price DAA Divergence indicator has flashed sell signals for BGB in the last 48 hours, reflecting increased profits among holders. While some investors may lock in gains, the broader sentiment remains bullish. The token’s consistent upward momentum has attracted significant attention, with long-term HODLers showing steadfast conviction.
Over the past month, the proportion of BGB supply held by long-term investors—those who retain assets for over a year—has risen by 11%. This growing base of committed holders reinforces the token’s stability and reduces the likelihood of a major sell-off.
Sustaining the Bullish Momentum
BGB’s strong fundamentals and expanding HODLer base have mitigated short-term risks of profit-taking. These factors provide a solid foundation for the token to maintain its bullish trajectory, even in the face of temporary dips caused by selling pressure.
BGB Price Prediction: $10 Mark in Sight
Bitget Token’s performance has been nothing short of remarkable, with a 44% increase in the last 24 hours alone. The token has hit four new ATHs within a week, underscoring its robust momentum and growing investor interest.
With a 430% surge in December, BGB is on track to breach the $10 mark if the bullish trend continues. Achieving this milestone would further cement BGB’s status as a standout performer in the cryptocurrency market.
Risks to Watch
Despite its impressive rally, the potential for profit-taking remains a concern. If selling pressure intensifies, BGB’s price could drop to $4.90, potentially invalidating the bullish outlook. Sustained buying support will be critical to maintaining upward momentum and avoiding a significant pullback.
