This tokenburn event will now continue evey three months until 50% of the total supply is burned.
The chart shows that due to very overextendet indicators and expectations of some investors, the actual valuation of the BEST token dropped for now, down to the golden ration 0.618 fib support.
This level is the next bigger supportive confluence zone. Next to the fib retracement level we can see the daylie mean line (dotted line) that acted as resistance in the downtrend and the 200 day line.
The investors now have to decide how to value this Token correctly. My personal bias over a longer time period of time is .
Bitpanda is still one of the biggest austrian startups and the deflationary mechanism of the Tokenburns as well as the overall growing userbase on bitpandas plattform supports my thesis.
The tokenburns now act as quaterly milestones and will be underlined by further developement progress of bitpanda.
Thanks for reading my updates
yours F P