The Bitget price has jumped by 7% in the past 24 hours, with the utility token rising to $5 after Coinbase disclosed that it had suffered a cyberattack.
This represents a 9.5% gain in a week and an 18% increase in the month, with the exchange token – currently ranked 31st by market cap – also up by 350% in a year.
While Bitget Token has seemingly benefitted from Coinbase’s misfortune, exchange tokens as a whole are up by only 0.1% today, so it’s unlikely that BGB has rallied principally because of the hack.
Indeed, BGB has been on a more or less sustained climb since early November, with the coin still looking good for further gains in the coming months.
Bitget Price Prediction: Bitget Token Pumps Above $5 On Coinbase Hack News, What’s Next?
While the Bitget price has risen strongly in the wake of yesterday’s Coinbase news, it’s hard to say whether the two facts bear any real connection.
Bitget itself suffered its own incident at the end of April, when eight accounts profited to the tune of $20 million after manipulating VOXEL trading on the platform.
In other words, Bitget itself isn’t immune to exploits that can endanger user funds, so it doesn’t really make sense for its native token to surge at the expense of Coinbase.
Nonetheless, BGB has certainly rallied today, continuing a trend that began ever since Donald Trump won the US presidential election on November.
If we look at its chart today, we see that it has only just recovered strong momentum after a period of decline that lasted a couple of months.
Its relative strength index (purple) is rising back towards 70 today, having risen from 40 only a few days ago.
Source: TradingViewAnd with its 30-day average (orange) also beginning a climb, it looks like its current rally may have several days (if not longer) left to run, before overbuying sets in.
Speaking more fundamentally, there are several reasons to be bullish about Bitget Token, given Bitget’s recent growth as an exchange.
For example, it obtained a Bitcoin Service Provider from El Salvador in December, while it has established an EU hub in Lithuania as it seeks to expand throughout Europe and comply with the new MiCA regulations.
This all bodes well for the platform’s future, with CoinGecko listing the exchange as the second-biggest in the market, in terms of 24-hour trading volume.
Accordingly, the Bitget price could reach $6 by the end of June, before reaching $8 again by Q4.
A New Wallet Token that Could Storm the Market Soon
Bitget Token certainly continues to look promising, but there are also other alts that could do very well over the summer and fall, including a handful of exciting presale coins.
One of these is Best Wallet Token (BEST), an ERC-20 coin that has raised $12.3 million in its hugely popular ICO.
BEST is the token of the popular Best Wallet app, which since launching in 2023 has now grown to serve 250,000 monthly active users.
Holding BEST will provide a range of benefits to Best Wallet users, including discounts on transaction fees, greater staking yields, governance rights, and early access to new tokens.
These perks will help to draw new users to Best Wallet, which in turn will draw users to BEST, helping to boost the token’s price in the long run.
Bullishly, Best Wallet’s official X account has just over 63,000 followers, a sign of how popular it and its native token could become soon.
There isn’t much time left until the sale ends, but investors can still join at the Best Wallet Token site.
BEST is now selling at $0.025035, but this price will rise again tomorrow, and will continue to rise steadily until the sale ends.
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