- The BGB token is the native cryptocurrency of Bitget, which is a Centralized Crypto Exchange (CEX). It was founded in 2018 by Sandra Lou.
- It is the fastest-growing derivatives exchange. The current users of it are around 8 Million worldwide. Its mission is Better Trading Better Life.
- On 12 September 2023, it announced the establishment of the BGB EmpowerX Fund worth $100 Million.
Fundamental Analysis of BGB
The Market Capitalization of BGB is $639,981,074. It is ranked 54th in the active cryptocurrencies available in the market.
The number of active cryptocurrencies in the world is around 9,012. The Total Supply of BGB coin is 2,000,000,000 BGB, which is also the maximum supply of BGB.
The current Circulating Supply of BGB is 1,400,000,000 BGB, which is around 70% of the Total Supply.
Technical Analysis of BGB
The coin in recent times is not performing well. As it has been in a downtrend position. It might continue to follow the same trend in the future, but it will be cleared from the candlestick chart only. In the line chart, it might make a resistance on the trend line and may continue to fall. Today, it is up by 0.33% which is fluctuating due to the market variation.
The coin tried to make some recoveries in the past. As we can see, the bulls were making their presence in the coin continuously. We should wait for one more day to see whether the coin will make a green candle or a red candle. In recent trading days, the bull run continued to move up, but failed after the formation of small red candles. If we see that from 22 August 2023, the coin was more bullish and the recovery was at a good pace.
According to experts, it may drop to $0.445968, which is around a 2.31% fall in the price of BGB. The current market sentiments are bullish. Its F&I Index shows neutral (49). The current market price of the BGB coin is $0.4569.
Live Chart of BGB
Conclusion
According to the analysis, it might rise in the upcoming trading session. The prediction can be inaccurate. The coin may continue its upward momentum as we have made predictions and it might give a breakout. So, investors should wait for some time before they make any investment or financial decision. The coin is in an uptrend position in the long-run period. It was up by 469% overall. Last year, it was up by 145%. The volume percentage in the last 24 hours has decreased by 6.34%, which fluctuates due to trading in the crypto market.
Technical Levels
Support level- $1.31
Resistance level- $8.85
Disclaimer
This is a general article that does not provide any financial information. Investors should focus on both technical analysis as well as fundamental analysis. The analysis is done to provide information to readers. To make them aware of investments.