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- 1 Bitgert crypto price is trading below the key moving averages showcasing bearishness on the daily technical chart.Bitgert crypto price is trading below the key moving averages showcasing bearishness on the daily technical chart.
- 2 This month the Bitgert coin is down by almost 26.13% showcasing it is in the bears’ grasp.
Launched in mid-2021, Bitgert is a cryptocurrency initiative focused on delivering blockchain solutions and a proprietary exchange. Originally operating on the BNB Chain with BNB as its reward token, Bitgert introduced a major innovation in 2022 with the BRC20 blockchain. This new blockchain stands out for its negligible transaction costs, pegged at an almost non-existent $0.0000000000001, and its ability to process up to 100,000 transactions per second (TPS).
Bitgert’s suite of offerings encompasses its own blockchain, an exchange platform, Paybrise, a real estate marketplace, a decentralized marketplace, staking for its BRISE token, and a token swapping service.
Positioning itself as a contender to PancakeSwap, Bitgert provides a decentralized exchange (DEX) alternative within the crypto space. The BRISE token, native to Bitgert, empowers users to stake and accrue rewards in BUSD, albeit exclusively on the BSC network.
On the BSC Chain, Bitgert’s smart contract incorporates a buyback strategy, allocating 5% of each transaction fee to this purpose, alongside 3% for marketing endeavors and 4% for staking incentives. The buyback mechanism is designed to bolster the BRISE token’s value, rendering it a deflationary digital asset.
In contrast, Bitgert’s smart contract on the Ethereum Network operates without any transaction tax.
Technical Analysis Of The Bitgert Crypto Price
The market analysis for Bitgert cryptocurrency indicates a bearish momentum, as evidenced by the consistent formation of new lows over the previous month. This trend is further supported by a reduction in trading volumes.
At the time of publishing, Bitgert crypto (USD: BRISE) is trading below the 50 and 200-day EMAs (exponential moving averages), which do not support the price trend.
Currently, the market sentiment leans towards the bears, with Bitgert undergoing a correction period, prompting a sense of caution among potential buyers. Additionally, Bitgert’s value is positioned beneath key moving averages, with efforts being made to reach the 50-day EMA to stabilize its valuation.
Moreover, there’s been a noticeable decrease in user engagement with Bitgert, which has contributed to the prevailing negative outlook and further entrenched the downtrend observed on the charts.
At the time of writing, the Bitgert price is trading at $0.00000018711 with an intraday gain of 1.05%, showing a bounce from the lower trendline near the support mark of $0.00000016528. Moreover, the intraday trading volume is $2.00 Million and the market cap is $73.11 Million.
Crypto has had a poor performance over the years. Year-to-date it gave negative returns of 1.25% and a decent return of 25% in 6 months. In the last 1 month, it gave a negative return of 25% and grew 10% through the week, indicating volatility.
Summary
Bitgert cryptocurrency, which indicates a bearish momentum with consistent formation of new lows and a reduction in trading volumes. Bitgert is trading below the 50 and 200-day EMAs and there has been a decrease in user engagement. The current Bitgert price is trading at $0.00000018711 with an intraday gain of 1.05% and an intraday trading volume of $2.00 Million. The cryptocurrency has given negative returns of 1.25% year-to-date and a negative return of 25% in the last 1 month.
Technical Levels
Support Level: $0.00000014059
Resistance Level: 0.00000020420
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
