Brazil Fan Token launched by the Brazilian government and the Brazilian football federation
BTF Token cryptocurrency is a national fan of Brazilian football. It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.
The Brazilian government and football federation launched the Brazil Fan Token on August 25, 2021. The token offers an exclusive experience for investors and sports fans around the world.
When this token is backed a government and its sports authority, I guess there will be no need to panic on seeing a 60% downfall rather you should focus on accumulating more to maximize your chances for grabbing more profits while it will be bouncing back. I never followed this token but if it is not reaching its 80% downfall from the peak price then keep averaging while accumulating will help.
At the same time, we need to bother about what are the chances from government side to keep backing up this token. I mean some times government may change their policy without any proper reason or explanation and in such case they will abandon it immediately; so government's token alone cannot be a good reason to keep investing in one token; always diversify.