Despite going up by 3 percent at press time, in today’s trading session, Bitgert continues to struggle in the markets, which has seen its value dropping by 8 percent this week, and 10 percent for the month. Throughout the year, Bitgert has also struggled to establish a trend, which has seen its value drop by over 80 percent year-to-date, and 92 percent from its all-time price high of $0.00000404, which it set on August 13, 2021.
Brise in 2023
Today, as the year comes to an end, there are many reasons to believe that we might continue to see the same bearish trend of Bitgert continue into the next year. For starters, events such as the mid-May collapse of UST and Terra Luna and the FTX crypto exchange collapse of November, are likely to continue impacting the crypto industry, which will see it remain in the current bearish trend.
There is also a high likelihood that we might see Bitgert continuing to be dragged down by the industry-wide bearish trend. Due to its significant correlation with industry trends, it means that every time the industry stands a downward trend, Bitgert price is also dragged down, a phenomenon I expect to continue into 2023.
There is also a high likelihood that, in the first few months of 2023, we will see more crypto projects filing for bankruptcy, as we saw last month with BlockFi. The continued negative press from these filings will likely impact the whole industry and result in further Bitgert price drop.
Overall, my Bitgert price prediction for the first few months of 2023 is a continued price decline. There is a high likelihood that we might see it falling below the $0.00000020 price level in the first few weeks of 2023.
Is it the Right Time to Invest in Bitgert?
As seen from the above analysis, I expect the current Bitgert bearish trend to continue into 2023. My analysis above also shows I expect the price to drop below the $0.00000020 price level in the first month of January.
Therefore, short-term traders looking to buy Bitgert, they must consider the risk of a continued price drop. However, for long-term holders, there is still a chance that we might see Bitgert recovering within the first quarter of the year.
Daily Chart
