Bitget Coin Price Support Stayed Intact; Will BGB Reach $1 Soon?

Those holding cryptocurrencies have options to earn interest on their assets through crypto savings programs. Bitget (BGB/USDT), a globally renowned cryptocurrency exchange, has recently launched a flexible savings program that is easy to use and offers daily interest. 

With such underlying technology the BGB coin has been one of the favourites for the crypto investors. The BGB coin has risen since the start of the end of December. 

Bitget exchange platform has updated its registration process. New users must complete identity verification during registration, while existing traders have until Dec 15, 2023, to complete KYC. The changes aim to improve security and compliance for Bitget’s global user base.

The compliance team will use the information gathered through this process to identify customers, assess their risk profiles, and comply with global and regional financial regulations that combat money laundering and illegal financing.

Verified users get full access to all Bitget products and services, which include derivatives trading, P2P trading, copy trading, dual investment, and smart trends. They also enjoy high withdrawal limits of up to $3 Million per day and can participate in exclusive Bitget events to earn unique rewards.

To use Bitget services, new users must complete Level 1 KYC verification during the registration process. Existing users, who signed up before September 1st and haven’t completed verification by December, will be limited to withdrawing funds or closing their accounts. 

Those users will not be able to create new trading orders or engage in other platform activities. In the future, Bitget aims to continue its efforts to ensure compliance and foster trust and confidence among its global user base.

Prediction of BGB Coin Price 

At press time, the trading price of BGB coin stands at $0.63. It has surpassed the major resistance level of $0.57, which now acts as a support level. The immediate resistance level is currently at $0.66 while a second resistance is at $0.706. 

The Relative Strength Index (RSI) indicates bullish strength, being at 66, which is close to the oversold level of 70. Additionally, the 50-day EMA, which is at $0.55, has made a bullish crossover with the 150-day EMA at $0.501, suggesting a bullish trend in the price prediction.

Conclusion

Bitget has recently launched a flexible savings program and it claims it to be user-friendly and offers daily interest. The BGB coin has bounced off the current support level and by the crossing of 50 and the 150-day EMA, it seems that the price will be bullish in the short term. 

Technical Levels

• Support Levels: $0.57 and $0.49
• Resistance Levels: $0.62 and $0.706

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.