Bitgert, a promising cryptocurrency, has been exhibiting a notable bullish chart pattern, indicating a potential upswing in its price trajectory. The recent developments surrounding the token, particularly the upcoming token burn event, have piqued investors’ interest, projecting a possible 25% price surge. This event is expected to create a scarcity effect and increase the demand for BRISE, which could lead to a significant price appreciation.
According to the technical analysis of @lord_brise, a popular crypto trader and influencer on Twitter in his Tweet, Bitgert is forming a bullish chart pattern that indicates a potential 25% price increase in the near future.
Bitgert is trading inside an ascending triangle, which is a bullish continuation pattern that usually breaks out to the upside. Notably, the volume increases as the price approaches the resistance line of the triangle, which is a sign of buying pressure. If Bitgert can break above the resistance line, it could reach a target of $0.00000425, which is close to 25% higher than the current price.
The token burn event, which is scheduled to take place on November 24th at 08:00 UTC, could be a catalyst for this breakout, as it will reduce the circulating supply of BRISE and increase its scarcity value. Bitgert has stated that it will burn 4 trillion of the total supply of BRISE, which is equivalent to 1000 trillion tokens. This could create a supply shock and drive up the demand for BRISE.
Bitgert is a decentralized exchange platform that leverages blockchain technology and smart contracts to provide fast, secure, and low-cost transactions for its users. Bitgert allows users to trade various cryptocurrencies and tokens without intermediaries or centralized authorities. Bitgert also offers features such as liquidity mining, staking rewards, governance rights, and an NFT marketplace. The scheduled token burn event is expected to positively impact Bitgert’s scarcity dynamics, potentially amplifying its market value.
To learn more about Bitgert and its token burn event, you can visit its website or join its social media channels:
Website: https://bitgert.com
Telegram: t.me/bitgertbrise
Twitter: x.com/bitgertbrise
Source: https://coinpedia.org/press-release/bitgerts-bullish-chart-pattern-indicates-price-increase-amid-token-burn-event/