If you’re a newbie to the crypto market or Investing first time in a binance coin, first and foremost a question arises: what actually is a binance coin, who is the person behind it?
Well, this overview will provide you the initial guide.
Are you thinking to invest in Binance Coin? Let’s take a glance at Binance Coin (BNB) price prediction and it’s complete journey since it was established. Also, Let’s find where the Binance Coin Price is heading this year.
Let’s walk through the BNB Coin Price Prediction and Forecast for 2020!!
- What Is Binance Coin (BNB)?
- BNB Price Today
- Binance Coin (BNB) Technical Analysis
- BNB Price Prediction 2020
- BNB Price Prediction 2021
- Binance Coin (BNB) 5 Years Price Prediction
- BNB Market Prediction
- Our Prediction
- Binance Recent Updates
- Binance Coin FAQ’s
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.
BNB Price Today
Binance coin is currently trading at $16.67 having lost about 3% price value in the last 24 hours. Generally speaking, market sentiments surrounding the cryptocurrency is overly bearish as traders build a massive sell wall on exchanges.
The top cryptocurrency moved in correlation to the price of bitcoin today by falling alongside other major altcoins. Although, BNB bulls seem to be recovering from the shock, it appears the bears are still largely in control and may drag prices further downwards.
Prices have traded sideways for most of the day but the generally visible movement is an uptrend. In case the bulls consider a run, prices may break the $16.75 and march forward to greater heights.
Binance Coin (BNB) Technical Analysis
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 2018 breakdown, 2019 year seemed to be a golden opportunity.
CEO of Binance, Changpeng Zhao has noted the progress in price of his native token. Tweeting a graph of the recent growth, “‘CZ’ is clearly proud of the growth of the token, which correlates to the growth of his own cryptocurrency empire”.
Experts claimed that that the token could recover to the value of $23 in the best-case scenario.
However, the crypto dropped gradually from Jun 2019 and then it has not yet risen till date.
Well, at present we can notice that the price is experiencing an downtrend.
BNB Price Prediction 2020
BNB as of January 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 broke the $15 resistance level around April and has been making consecutive gains until now. At present, the price is hovering around $17 in a bid to break the resistance level at $20 again.
Looking at the current market scenario at the end of 2021, Binance coin will reach to $25 from its current price of $16.75. The year 2020 is considered to be more gracious for cryptocurrency market in oppose to how 2018 turned out to be, so it is predicted that this would be the year when Binance gets close to its record price.
BNB Price Prediction 2021
In 2021, we believe that the massive improvements at Binance cryptocurrency exchange will definitely pay off in the long run. By the end of 2021, BNB may be hovering around $30 and further price gain still wouldn’t be left out of the picture.
Binance Coin (BNB) 5 Years Price Prediction
Few analysts are forecasting that Binance Coin, might touch $50 with around 500% of gains in the course of a single year with the increased interest in trading cryptocurrencies on Binance.
Anyways, Predicting the price of any coin is quite difficult. It mostly depends on the market value.
So, what’s your prediction for 2025 if the market is stable?
BNB Market Prediction
Experts predict that the coin might reach the top price of $35-$40 as the record price of BNB. Let’s check some experts prediction in 2020.
According to WalletInvestor website, BNB is expected to rise 85% in 2020. The price will reach $24.1 by the end of this year.
TradingBeasts believes BNB will have a slow growth. The price will reach only upto $19.
CryptoGround, however, believes that BNB will decrease down to $6.4202.
Well, $40 is quite high! No doubt it might reach $40 if the coin doesn’t step it’s toes into red day.
Our take is that BNB can reach $25 by the end of 2020. Binance Coin has an opportunity to show faster rates of growth than the other market participants. It was a matter of time, as other markets are either too fragile to move upwards or simply experience much resistance to make any big jumps occur.
In 2021, we agree with convergent analysis predicting that BNB will remain above $30 mark and may even climb further to around $35.
Moreover, Binance coin is doing its own thing in this regard, although that won’t automatically lead to a high time in the coming days. There will be plenty of resistance along the way.
Binance Recent Updates
Binance Launches Quarterly Futures
On June 11, Bunance officially announced the launch of quarterly futures. According to their announcement, Binance Quarterly Futures will meet this rise in demand and complement our existing product line to offer users greater variety and diversification.
Binance Research to Revamp Website, Launch Project Pages Powered by IntoTheBlock
The crypto market research and analysis division of Binance, has entered into a collaboration with IntoTheBlock, one of the leading data providers for machine learning applications to the crypto space.
Binance backs A Merger Between Travelbybit And Travala
Travala.com, the leading blockchain-based accommodation booking platform announced today its strategic merger with the leading cryptocurrency-friendly flight booking portal TravelbyBit, backed by Binance, the global blockchain company behind the world’s largest cryptocurrency exchange by trading volume and users.
Binance Coin Joins The Freewallet Platform
Binance Coin is now available on the digital currency wallet, Freewallet. This wallet has expanded its list of available cryptocurrencies. In addition, Binance coin will now be available on Android and web, with iOS to be available in the near future.
Binance Coin FAQ’s
In 2020, the rate will grow up to $19.55. The slow price increase will result in $27.45 rate in 2022.
As Binance platform is evolving, Holding some BNB coins offers a lot of perks.
Experts predictions shows that BNB coin will definitely rise in the near future.