The time is finally here! After consolidating for a brief period of time, altcoins were expected to boom and follow Bitcoin’s path. Binance recently had much positive news in the media. The rise of NFTs and the increasing market coverage of Binance is helping the company grow both structurally and economically. It is no surprise that its token Binance Coin (BNB) will in turn increase. In fact, its price reverted from its consolidation and is now eyeing its previous all-time high price of USD 700! Should you Buy BNB today and enter this 40% trade setup?
Binance Coin Prediction – Will BNB reach 700$?
In the past years, cryptocurrencies have always shown a tendency to breach a previous all-time high price. This is especially true for Bitcoin, the leading cryptocurrency by market cap. Since BTC just did that, BNB, which is a big contender in the cryptocurrency market is likely to follow the same step. This is because of the following:
- Strong fundamental towards Binance as a company
- Strong overall technicals in the entire cryptocurrency market
- Bitcoin breaching its ATH
- NFT tech advancements and Binance tapping into this industry
At the current price of USD 500, BNB should reach its previous 700$. This would mean a solid 40% return if traders use this specific trade setup.
The Entire Cryptocurrency Market is UP!
In the past 24 hours, the cryptocurrency market is up by more than 5%. BNB specifically is up by 4%, and is looking to boost its prices further. Although the market is up, there will still be room for a probable price correction. This phenomena is always normal after such extensive price increases.
1- Bitcoin (BTC) : + 5.6 %
2- Ether (ETH) : + 8.0 %
3- Binance Coin (BNB): + 4.6 %
4- Cardano (ADA) : + 3.4 %
5- Tether (USDT) : 0 %
6- Ripple (XRP) : + 5.5%
7- Solana (SOL) : + 11.2 %
8- Polkadot (DOT): + 8.3 %
9- USD Coin (USDC) : + 0 %
10- Dogecoin (DOGE) : + 4.8 %
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