What other factors lead to a crypto surge

$ETH (-0,26%) is just preparing for another launch, Don’t panic.

Now, in most cases unlike in forex trading, crypto is mostly pushed by trends, hype and influence; maybe from a celebrity or funny moment.

Another major contributors is crypto burn; where the total supply of a particular token is burnt to aid in utility circulation and value.

Now, BGB is showing a strong price movement at about $5.1 and analysts predicts a possible $10 before the end of this year.

But I think this spike in price is as a result of bitgets partnership with morph chain; now the token has being made a PayFi within the ecosystem and which contributed to the spike in price.

Following the thread, there will be a combined burn of almost 90% of the token which will drastically reduce the total supply from $1.1B to $100m

Though I sold most of my bags at $3 when price dipped, and with this news today, I should consider buying more..I’m looking at taking my profit at $10 soonest!

Could this be possible?

Ph1l1pp@Ph1l1pp

Thanks for you validation, top is in.

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Leilani J.@Jaytips

20H

@Manrich yes it's possible.. I read the reports too about the partnership and I noticed there'll be more burn of the token which you also mentioned. so $10 could even be the start. I remember this is the same path BNB took.. being a utility token and BGB is doing same.. I'll suggest you DCA slowly until you have a solid holdings.. looking good here for Bitget X BGB ngl.

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What other factors lead to a crypto surge?