- What is Bitgert? A beginners guide to its historical price and how it works.
- Bitgert claims to take zero gas fees, but a Forbes article revealed that some indirect fees are involved.
Bitgert, a decentralized application which is based on binance blockchain (Binance smart chain) works similarly to Pancakeswap, which is a decentralized exchange (DEX). The Bitgert app is available on Android and iOS and it allows users to send and receive BRISE, which is the native token of the platform, along with more than 30 other cryptocurrencies. Furthermore, it claims to be the world’s first crypto exchange with zero trading fees.
Bitgert came into view as recently as July 2021. It was first named Bitrise but this was later changed to Bitgert in December 2021. In February 2022, with the help of POA (proof of authority) technology, Bitgert launched its own Blockchain.
How Does Bitgert Work
As discussed above, Bitgert utilizes the Proof of Authority mechanism, supports smart contracts, and boasts fast block times and cost-effective transaction fees. While it claims to have no transaction fees, a Forbes.com article suggests the presence of minimal “indirect” fees associated with it.
Additionally, BRISE is renowned for its EVM compatibility, which simplifies the transition for developers coming from Ethereum. It provides support for various ETH tools and Decentralized Applications (DApps).
Furthermore, within the Bitgert ecosystem, there is a DeFi protocol called Knit Finance, along with decentralized applications, a decentralized exchange (DEX), and an NFT marketplace known as Miidas.
Bitgert Historical Pricing and Technical Insights
The price of BRISE started taking a bullish turn a year ago where it rose from $0.0000003872 in the beginning of August 2022 to $0.000001181 at the end of the same month.
After a bullish month filled with optimism for BRISE investors, the price began to experience a sharp decline towards the end of October 22, reversing from $0.0000004482. However, the situation worsened significantly following the news related to FTX, resulting in further crashing of the price.
On January 23, there was a day of relief for investors as they could observe a bullish trend in the chart. This trend continued until February 23, during which the price experienced a notable hike, reaching $0.0000006817. However, after that period, the price entered a downtrend, and currently, as of the latest available data, the price is at the level of $0.0000002597.
As per the chart analysis, there was a breakout observed at the level of immediate support, which was at $0.0000002272. The price moved upwards from the 50-day moving average (DMA) after this breakout. However, it is worth noting that the Relative Strength Index (RSI) is currently at a strong level of 70.24.
An RSI level of 70.24 suggests that the asset might be overbought, which could potentially lead to a correction in the price. This correction could drive the price back towards the zone below the immediate support level of $0.0000002272.
Given that the second support and resistance levels at $0.0000002862 and $0.0000004263, respectively, are considered stronger and confirmed, they may play crucial roles in determining the price movement if the current bullish trend weakens or reverses.
Conclusion
Bitgert, launched in 2021, is a DEX on Binance Smart Chain, resembling PancakeSwap. It’s EVM compatible, uses Proof of Authority, and claims zero transaction fees. The price was bullish a year ago but has recently made a breakout, indicating a potential short-term buying opportunity if sustained.
