Brazil National Team Fan Token (BFT) spikes 17% on eve of Brazil vs. South Korea

NEW DELHI (CoinChapter.com) — Brazil National Team Fan Token (BFT) spiked nearly 17% to a high of $0.21 on Dec 5, as Brazil took on South Korea in their last-16 tie.

According to CoinMarketCap data, BFT price dropped to a low of $0.179 in the early trading hours but has since been on the rise. However, bears started selling whenever the BFT price spiked during the day, forcing prices lower.

However, despite the double-digit jump on Dec 5, the BFT fan token has shed more than 90% from its all-time high of $1.71. Moreover, the BFT crypto token dropped 76% in Nov, even though the Brazil national team reached the last-16 stage after topping the table in Group G.

Due to the downtrend, Brazil National Team Fan Token has reached price levels quite close to its all-time low of $0.119

Can Neymar’s Return Help Revive BFT Price Action?

The Brazilian football team’s luck has been similar to its fan token. The team lost its star forward, Neymar, in their opening win against Serbia.

Also Read: Bitcoin Price Prediction: What’s In Store For BTC This December

The five-times world cup winners then suffered from the loss of forward Gabriel Jesus and left-back (defender) Alex Telles, who were both ruled out of the Qatar tournament after getting injured in the team’s group match against Cameroon.

The injury-plagued side has been looking forward to Neymar’s return for the South Korea match. Sports analysts often count Neymar as one of the five best attackers in the world. However, the oft-fouled Neymar might have a hard time on the field.

On the other hand, South Korea is the second lowest-ranked team to make it to the last-16 stage. The team ate five goals against Brazil in a friendly watch before the world cup.

However, the Qatar world cup has seen a lot of upsets, with the four top-ranked sides in the world – Brazil, Belgium, Argentina, and France- having lost to less-fancied sides. Moreover, four-time world cup winners Germany failed to qualify for the last-16 stage.

Richarlison, who scored both goals against Serbia, said in a news conference that Neymar’s return might help the whole team improve.