The price of Binance absolutely rose in mid-February, rising from about $ 50 to $ 370. She returned half of the winnings in the last week of February, but seems to be starting to turn around again. The ’s Binance Coin first signaled a set of cryptocurrencies in September last year, when it jumped from around $ 18 to $ 33 and is currently earning the most, tripling its price since mid-December. The January withdrawal was weak and short-lived, while the first two weeks of February have been remarkable so far, and Binance nearly doubled in value, rising from about 40 to just under $ 100 and then continuing above $ 145, while the bullish momentum was only stronger. This is happening in the midst of a product development plant that Binance is launching several new cryptocurrency products.
Binance is a digital asset initiated by Binance Exchange. Customers can pay their Binance expenses at the BNB, and in return receive discounts. These discounts are valid for four years, and each year they are halved in value: the first year 50%, the second 25%, the third 12.5% and the fourth 6.25%. The primary purpose of Binance Coin is to pay fees, although it can also be spent in various online and physical stores around the world. In addition, the can invest in Initial Coin Offerings (ICOs) established as part of Binance’s Launchpad program.
So far, the 10th largest cryptocurrency in the world, the Binance Coin (BNB), has a market capitalization of $ 4,378,824,720. The Binance Coin (BNB) was originally formed on the Ethereum network in July 2017, making it a 3rd generation cryptocurrency and ERC-20 token.
Binance Coin was created by the popular Chinese cryptocurrency exchange Binance. Portmanteau of “binary” and “finance,” Binance trades about $ 5,184,160,910 in a typical 24-hour period and is the largest crypto exchange in the world. Its success could be attributed to an internal matching mechanism that suits users who want to buy and sell the same property. That way Binance will probably go from strength to strength, but what about Binance Coin?
Latest price changes BNB / USD
|30 dana||+9,48 USD||+21,39%|
|6 months||+21,18 USD||+91,55%|
|1 year||+25,07 USD||+130,23%|
BNB / USD – Forecast Summary
|Binance prognoza: Q1 2021
Price: $ 350 – $ 400
Price drivers: Double Top Breakout, Bullish MACD, 10 & 20 EMA support
|Binance prognoza: Q2 2021
Price: $ 500- $ 600
Price drivers: bear correction, Fibonacci withdrawal, making a profit.
|Binance prognoza: 1 godina
Price: $ 1,000
Price drivers: 50 EMA support, ABCD form completed
BNB / USD – Factors influencing the price of Binance coins:
The following factors that affect the price of Binance Coin will help you understand the market and predict periods of rise or fall based on current events. Predictions are usually based on the principles of technical analysis. Nevertheless, we all need to understand the various factors that can affect the price of a particular asset, which in turn allows us to make reasonable investment decisions based on changes in events.
Many cryptocurrencies are not currently controlled by governments and central banks. However, if any changes occurred in the coming years, it could affect the value of Binance Coin. Let’s look at the three most important factors that can affect the price of a Binance Coin:
Supply and demand:
The supply-demand ratio could be considered a “catch” factor that will always affect the price of Binance Coin. It is also worth noting that the relationship between supply and demand depends on many different factors. Simply put, the price of an asset will decrease if supply exceeds demand, and in turn will increase if demand exceeds supply.
Binance Coin Supply:
Binance halves his coins and this event happens about once a year. It halves the reward for mining new blocks. Like Bitcoin, there is a maximum total Binance Coin offer. When it was first launched, the total bid was about 200 million; however, exchanging Binance over time intentionally destroys Binance Coin tokens.
This is usually done to control the supply of cryptocurrencies, which helps Binance coin prices stay firm. In simple words, Binance can manage the relationship between supply and demand by reducing the total supply, which positively affects the price of Binance Coin.
The next major factor that can affect Binance Coin prices is the success of ICOs participating in Binance’s Launchpad scheme. If Binance supports the launch of a number of new popular cryptocurrencies, it means that Binance Coin users have more opportunities to trade their tokens. This, in turn, supports the demand for Binance Coin, as it creates more reasons to trade on the Binance platform, and thus to own the BNB.
US Dollar & Coin Binance:
The prevailing wave of Binance Coin could also be attributed to a weaker U.S. dollar, spurred by progress in a deal on the next round of U.S. fiscal stimulus, which undermined demand for assets from safe havens like the U.S. dollar and contributed to gains in Binance Coin.
Why buy Binance Coin? BNB qualities:
Let’s talk about some great reasons to buy Binance (BNB) Coin.
Affordability – Compared to other coins, such as Bitcoin, the BNB is advantageous in terms of purchase because it is quite affordable. You can easily trade BNB coins on the Binance platform.
Supply and demand – Supply and demand determine the growth of the value of a currency in digital exchange. Bitcoin has grown in value, thanks to its supply of 21 million. Meanwhile, 99 million BNB coins are already on the market, and as its fame spreads, supply will shrink, which in turn has a positive effect on prices.
Community Trust – The Binance Coin is considered one of the most trusted coins on the market, thanks to its ease of operation and high withdrawal limit of $ 30,000. Investors are gaining more confidence in the BNB, due to the low level of security problems.
Growth – As the Binance platform grows over time, the BNB currency grows at the same rate. The infrastructure is as strong as the Bitcoin protocol.
Technical analysis – Can we expect a continuation of the bulls trend – BNB / USD?
On the technical side of the market, Binance traded with solid bullish prejudices, jumping to $ 92.55. In the weekly time frame, Binance violated twice the maximum resistance level of $ 33.66, and also crosses the next resistance area of $ 47. Closing the bull candles on a weekly time frame suggests a high chance of further buying at Binance.
Looking at the long-term forecast for Binance, the crypto pair suggests a strong bullish bias. On the higher side, Binance will find its next resistance around $ 103 and 125,100, which extends for monthly resistance levels at the pivot point.
BNB / USD bull swallowing, RSI and MACD – all purchase suggestions
On the daily chart of the 10 & 20 period, exponential moving averages also support strong bullish bias, but at the same time, it also indicates solid chances for a bearish correction, as the value remains at a level far from the current BNB market price of $ 94.
On the downside, BNB / USD may find support at $ 88.10 and $ 79.44, which is extended by 23.60% and 38.20% of Fibonacci retracement levels. MACD shows a bullish crossover and has started closing histograms over 0, supporting bullish bias among traders. We can expect a small correction in the BNB to $ 79.44, as soon as the pair is extremely overbought and it seems that the bulls are spent. This update examined many breathtaking projections and ideas from some of the leading experts in the crypto space. Each of them has a great discussion, making it all the more interesting to watch what will be revealed in early 2021. Good luck!