Bitgert price has started the year with bullish price action. The price has soared more than 80% since the start of the year. The bulls appear to be in complete control as they target further upside. The recent positive BRISE price action is being attributed to the dramatic recovery in Bitcoin price since the start of 2023.
Bitgert is an ecosystem of several innovative products. These products include BRISE Wallet, BRISE Swap, and BRISE Exchange. BRISE coin is the native token of this ecosystem which can be staked to get BUSD rewards. The cryptocurrency also has other usecases in the whole ecosystem.
As per the latest Bitgert news, the team has launched a P2P marketplace that will be completely decentralized. The project has already announced a buyback mechanism in which the 99% supply of BRISE will be burned. According to this plan, around coins of worth $2-3 million will be burned every week starting from February. All this news has produced a significant impact on Bitgert price, which is now trading at $0.0000005180.
Bitgert Price Daily Chart
Technical analysis of BRISE shows a bullish reversal since the start of the year. Last week price pumped 126% up from the December 2022 bottom on the news of coin burning. Nevertheless, the price failed to hold the $0.0000006432 level and faced a significant rejection. The price has also broken above the 200-day moving average, which currently lies at $0.0000004896.
If the price closes a week above the $0.0000005555 level, then bulls can easily target the $0.0000007500 level. This target comes from the confluence of the October 2022 high and the 0.382 Fib retracement level. However, this Bitgert price prediction would only be valid if the price stays above $0.0000003333 level. Till then, any dips could act as a good accumulation opportunity.
Despite the recent bullish price action, Bitgert is still trading 69% below the August 2022 all-time high of $0.0000016305. Just like other altcoins, BRISE also gets affected by BTC price action. Therefore, BTC has to remain above $22,000 for the realization of our bullish target.