Not much has changed since our previous Bitgert price prediction. In fact, the price has entered a deeper correction and is now trading at $0.0000004660. Our analysis suggests that the BRISE price could skyrocket in the coming days if the Bitcoin price holds the current level. At the time of writing, Bitcoin is trading at $21,900.
Crypto markets are experiencing very high volatility this week as traders speculate on the upcoming CPI report release. The report, which is expected to be released this week, will include the January 2023 inflation data. This data is critical for the upcoming rate hike decision by US Federal Reserve.
BRISE News Today
As per the latest BRISE news, the team has announced the date for 2nd BRISE burn. The burn will take place on 28th February, in which $4.5-5 million worth of Bitgert tokens will be burned. This would also make it the biggest token burning even for Bitgert. In other news, the project has also partnered with Flux which is a global decentralized computing network by individuals.
Bitgert Price Chart – Daily Timeframe
On a daily timeframe, Bitgert price is showing a clear rejection from $0.0000006450 level. Since then, the price has lost more than 27%. The price has bounced off the $0.0000004046 level which is also the 0.618 fib retracement level. If the price holds this fib level and doesn’t close a day below it, then I expect BRISE coin to target the $0.0000007443 resistance in the coming days.
This would be a 60% price increase from the current level. However, the bulls need to reclaim the 200-day moving average before targeting any further upside. The 200-day moving average currently lies at $0.0000004911.
Just like other altcoins, Bitgert price prediction also depends massively on BTC price action. Therefore, BTC must remain above $22,000 for altcoins like BRISE to thrive. The macroeconomic factors are also likely to affect the crypto prices in the next few months, together with upcoming rate hikes. This week’s inflation data will be another factor that could determine the fate of ongoing recovery in cryptocurrencies and equities.