- Bitgert price has been in a strong bearish trend this month.
- The downward trend will likely continue in the near term.
Bitgert price has come under intense pressure in the past few days as the recent momentum faded. BRISE dropped to a low of $0.00000057, which is about 12% below the highest level this month. It has crashed by more than 47% from the highest level in September, giving it a market cap of over $233 million.
Bitgert momentum continues
Bitgert is a small but fast-growing blockchain project that seeks to become a leading alternative to Ethereum and other smart contract platforms. Its architecture makes it more efficient and cost-friendly to users of apps in its ecosystem. For example, it has a near-zero gas fee, meaning that it can handle thousands of transactions for less than a dollar.
BRISE is the native token for Bitgert’s ecosystem. It is used to pay gas fees and for overall governance. In addition, BRISE can be staked, meaning that holders can earn a return by just having it in their wallet.
BRISE has become one of the fastest-growing cryptocurrencies this year. It moved from obscurity and became one of the biggest and most popular coins in the ecosystem.
At the same time, its ecosystem has continued growing. Some of the top projects in its ecosystem are Knit Finance, Midas Marketplace, and Spynx Labs. In addition, Bitgert introduced BRC20-pegged USDT/USDC tokens in its ecosystem.
One reason why the Bitgert price soared earlier this month was that the total value locked in its ecosystem moved from almost nothing to over $10 million. This was a sign that the network is becoming popular. Recently, however, this TVL has dropped to about $6 million.
Bitgert’s developers have been at work. For example, this month, they launch Bitgert Exchange, which allows people to trade, deposit, and withdraw funds. The developers are also working to launch its operating system.
Bitgert price prediction
The 30-minute chart shows that the BRISE price has been in a steep downward trend in the past few days. During this time, it has managed to form a descending channel shown in purple. It also dropped below the 25-day and 50-day moving average while oscillators are also tilting downwards.
Therefore, the path of the least resistance for the coin is lower, with the next key support level being at $0.00000054, which was the lowest level this week. A move above the resistance at $0.00000058 will invalidate the bearish view.
