Currency Binance (BNB) presents an aggressive rally in the middle of the week, having risen in price by almost 40% over the last 24 hours and almost 100% in the last seven days (Source: CMC)
The currency is now trading at $ 240 and above and its market value exceeds $ 37 billion. Binance’s main competitor was Bitcoin SV’s account currency, which could not stay in the third line in the ranking of the largest digital assets and gave way to the BNB token.
Now, almost all of the top ten digital currencies are declining in price, with the exception of the Binance currency, which continues to show explosive growth and may already be breaking the $ 280 threshold today.
Last year, the largest assets Bitcoin and XRP on Wednesday, February 6, 2020, fell 1.54% and 2.4% to $ 3412 and $ 0.291, respectively.
Binary Currency Technical Analysis: BNB 2021-2022 Price Forecast
Over the course of 52 weeks, the BNB ranged many other currencies ranging from $ 14 to $ 280
Weekly and BNB price forecast: 89%
BNB Price prediction per month and P / L: 500%
BNB 3 months Price and GDP forecast: 728%
BNB 6 months Price and GDP forecast: 754%
BNB YTD and P / L price forecast: 587%
BNB Year and Pore Price Forecast: 1427%
Technical Analysis Summary (Month): BNB / USDT (Binary Currency Price Forecast Updated February 2021)
Oscillator and moving average
Predicting the future prices of these or other cryptocurrencies is no easy task. We can learn a lot about the past ups and downs of certain currencies, but it is hardly possible to predict many circumstances affecting the market. This is not to say that prices cannot be predicted at all because some of the upcoming events are very reasonable. For example, we are witnessing the renewal of cryptocurrencies and know about the long global economic crisis. These factors are supposed to fuel the cryptocurrency market in general and will certainly affect the price of a binary currency in some way. We just need to consider a few other factors.
What is a Binance Currency?
Binance is one of the most popular currency exchanges. It was launched in 2017 in Hong Kong. The Binance currency (BNB) is the original Binance token created that year. BNB is an ERC20 token that can be used to pay commissions on the Binance Stock Exchange. If traders choose to pay commissions in BNB they get a discount. In Binance DEX most currencies are traded against the BNB so this currency in the portfolio gives wider opportunities. It is fair to say that Binance Coin is one of the most popular local tokens. Moreover, the Binance currency is one of the top ten cryptocurrencies by market value.
The rapid success of the token is easily explained by the immense popularity that Binance was able to gain very soon after launch. The Binance currency was distributed during the ICO campaign. Half of the tokens were bought by the public and 10% were given to investors in angels. The rest of the BNB coins went to the Binance team. The stock market has good liquidity, provides hundreds of trading pairs and is able to process a high amount of trades per second. All of these qualities have made this exchange one of the leaders in the currency exchange market. The community’s trust in this exchange and the authorizations granted to traders through BNB currency have made this property popular.
Binary currency was made available to him in the summer of 2017 – not long before the historic high of the entire currency market. Even without looking at the details, we can already guess that the price of the currency hit an all-time high at the end of December 2017, sniffs in the spring of next year and fluctuates around the value much lower than the peak price but better than it was in “crypto-winter”. This is more or less a typical route for the price of any currency launched in the second half of 2017.
In the early days, BNB traded around 11 cents a coin, but in mid-August the price rose above $ 1 and almost reached $ 3 on 23 August. There was a correction in early September when the price dropped below again $ 1. By the end of the month it has grown again slightly above the $ 1 level. By early December, the BNB value had fallen between $ 1 and $ 2. In December the price suddenly took off to update new heights daily.
On December 26, the price first reached $ 10 (though did not last long). In early January 2018, the BNB price hovered around $ 8. On January 5, the price soared to a maximum of $ 16. In the coming days the token is trading at more than $ 20. The maximum for BNB at that time was reached on January 13 when the price peaked at $ 23.67. On January 16, the trade closed at $ 13.89. In the coming days the price continued to fall gradually. This was not just the decline of Binance Coin as the entire currency market began to lose value in those days. One of the main reasons for this was the ban on cryptographers-related businesses in China – a significant player in the global cryptographers industry. It is also important to understand that the price of Bitcoin was allegedly tapped and the value of $ 20,000 was not natural. The prices of many altcoins that became popular in those days (including BNB) reflected the record price of the BTC. The fact that after this rally the prices of most altcoins failed to reach those values or greater is just fine.
In February, the price fell below $ 10 and ranged from $ 8 to $ 10 by the end of March. Since March 31, the price has always been over $ 10, sometimes reaching up to $ 15. The revival continued throughout the spring and ended only in late June. At that time the price of BNB went from $ 12 to $ 17. July was a small step backwards and in August the price of the token again dropped below $ 10. For most of the fall, the price was pretty stable – around $ 9 or $ 10 but at the end of November it dropped more strongly.
BNB price forecast
The overall future of Binance Currency looks bright as this asset is tied to the most successful currency exchange at a time when cryptocurrencies are gaining popularity and maintaining better value than many Fiat currencies affected by the financial crisis, which is not about to end very soon.
2020 was a good year for Binance. Finally, its price is close to an all-time high. The huge token burns have made the value of any currency left much higher and the new accelerated burning company is about to perform and will probably take the currency to the next level soon. Moreover, cryptocurrencies have become more attractive to people following the financial crisis associated with the epidemic. By the second quarter of 2021, all of these factors together will bring the BNB token price to the $ 50 mark by the most pessimistic estimate.
As the coming years creep in the shadow of the economic crash of 2020, the cryptographic market will rise against the fiat money market. We’ll say it again – the success and growth of the cryptographic market automatically means the success of Binance’s stock exchange token. Binance is not expected to lose market dominance (or at least significance). The very fact that the company provides both centralized and distributed platforms strengthens its potential.
More people affected by the crisis will turn to cryptocurrencies and will probably start with the established brand which is Binance. BNB token makes Binance use cheaper and more convenient. These circumstances do not leave a chance for the price of BNB to fall. This price will continue to rise. By the end of 2023 the price will double compared to the price it had at the end of 2020 in the worst case. We believe the value will reach a minimum of $ 64 but it will most likely exceed the $ 70 level.
If Binance survives and maintains its relevance by 2025, its token price will become even higher. At the same time it may cost x10 or even x100 compared to the current price. It is difficult to predict this because we can not be sure that the USD will maintain its strength until 2025. If the dollar weakens the value of Binance currency in the dollar can get really high. However, by 2025 some almost unexpected new circumstances may emerge that could slow the token’s price growth.