If you’re a newbie to the crypto market or Investing first time in Binance coin, first and foremost a question arises: what actually is Binance and who is the person behind it?
Are you thinking to invest in Binance Coin? Let’s take a glance at Binance price prediction and it’s complete journey since inception. Also, find where the BNB Price is heading this year.
First let us peel the layers of some basic information about Binance.
Table of contents
|Market cap||$ 6,092,183,645.0000|
|Circulating Supply||$ 147,883,948.0000|
|Trading Volume||$ 12,749,801,995.0000|
|All time high||$ 47.0500 January 19, 2021|
|All time low||$ 0.0398 October 19, 2017|
What Is Binance Coin (BNB)?
Binance Coin (BNB) is the crypto coin of the Binance exchange platform. It was launched in the 2017 by CEO Changpeng Zhao with co-founder & CTO Roger Wang. The name Binance is a combination of binary and finance. In the year 2019, many businesses accept BNB as a payment.
Basically, the BNB token let’s you earn discounts on the services of the Binance exchange platform, which later becomes a decentralized exchange of blockchain assets. BNB also offers users with access to advanced features to be used on the new decentralized exchange.
Binance Coin (BNB) Technical Analysis
Binance coin entered the market on 25th July 2017 with the trading price of $0. Later on, the price started to improve and reached $3 at the end of August. With certain fluctuations BNB ended 2017 with the trading price of $8.
Further, in the month of January 2018 the winter price peaked to $23.25 , which is the highest price the coin reached till date. Well, this was most amazing phase for binance investors.
Unfortunately, the tables turned and the graph stepped downwards.
In Feb 2018, most of the crypto coins experienced a downtrend. Binance Coin was no exception. The price declined beneath to $6.12 in early February 2018.
However, this decline didn’t stay for long. Since February 6, 2018; BNB coin price has increased up to 200%. If this trajectory would have sustained, the price projection would be $20. Binance coin price continued to shine in late June 2018 with $16.71. Later, experiencing major roller coaster ride the price dropped to $4.34 in Dec 2018.
In comparison to other altcoins, BNB coin is certainly a huge outperformer. The price related highest since September 2018, which was known area of supply.
Binance continued to storm ahead breaking up above the $10 mark and retesting the 2019 highs. For those who suffered in the 2018 breakdown, 2019 year seemed to be a golden opportunity.
As of January 2020, BNB was trading around $13. There was a gradual price progression which surged BNB to around $20 by the end of the month. However, as the bull market progressed, BNB broke the resistance at the $20 mark to set a new price record beyond the level.
By the middle of February, the price had touched a record $25 and was ready to run towards $30 before the bear markets resumed by the end of the month.
Into the beginning of March, as the first quarter was coming to an end, a drastic price crash put the bears in charge and the price fell rapidly to new lows below $10. Trading at $8.9 as of late March, BNB ended the first quarter with a 3% loss.
Sideways trading mixed with progressive uptrend has been the general market sentiment since the second quarter of the year. The price reached $18 by the end of April. Later on the price steadily started to rise and touched the $23 mark by the end of August.
Shockingly the price plunged to $19 by early September and further spiked to $31 in mid-September. As the expansion of Bitcoin’s price rally, BNB climbed to $32 by the end of November. With certain price swings, BNB traded at $37 during the end of December 2020.
BNB Price Prediction 2021
By following the bullish trend, BNB continued to trade at $37 at the start of 2021. It might reach $55 by the end of January. As the marketers concentrate on buying the Altcoins, BNB might hit the $62 mark by the end of June and the price might swing further. With certain fluctuations, the price may continue to be in the same range between $55 and $57 throughout the year. By the end of 2021, BNB might be traded at $61.05.
BNB Price Prediction 2022
BNB might start the year 2022 with a trading price of $61. It might trade at $59 at the end of January. On a bullish note, it is expected to reach $68 by mid-June and might continue to be at the consistent level for several months. Later on, the price may start to swing and might hit $63 at the end of November. It is expected that the price might trade at $66 by the end of 2022.
Binance Coin (BNB) 5 Years Price Prediction
In 5 years, BNB might continue to surge and it may break all its previous price records by touching the new height. Binance might introduce new features to its trading to enhance the minds of the investors to invest in BNB as it introduced some of the features like Asset Conversion, Cross Collateral, and Price Protection. In 5 years, BNB might reach the $100 mark.
BNB Market Prediction
- BNB Market Prediction
Let us check what the market is thinking about Binance Coin.
According to WalletInvestor, the price of Binance could grow by $17.31% over the next year, hitting the values of over $40 by the middle of 2021. The price will remain consistently above to its current trading price.
According to DigitalCoinPrice, BNB will soar to a staggering $86.24 by April 2021. The price will fall down to its yearly low of $64.45 in July, but come back stronger than ever by hitting $88.35 in September and finishing the year at a price of $79.12.
Binance started the year 2021 with a continuation price of $37 which ended the trade of 2020. The price continued to grow as it initiated the year. With certain fluctuations, BNB might reach an average of $51.46 by the end of 2021. The price may increase if the company announces any new improvements. It might be a good investment for the future. BNB might hit $120 in the future.
Binance Coin (BNB)’s governance is Centralized>hierarchical.
Yes. The long-term earning potential is +15.11% in one year.
There are many places to buy and exchange Binance Coin like coinbase , wazirX , Binance exchange and more.