If you have been following the market since December 2020, you would have seen dramatic positive gains in the cryptocurrency market in various areas beyond Bitcoin. The specific coin we will cover today is Binance Coin (BNB), which we specifically called out as a token to watch in 2021. Binance coin followed our predictions of growth as we reported an “unstoppable run” on February 5th. Today Binance sits at approximately $132, following an all-time high of $148 on February 10th, 2021.
The question now is, what is next for Binance?
Given the past few weeks, Binance Coin has been through, namely rising more than 179% and surpassing Litecoin and Bitcoin Cash, to become the #7 cryptocurrency in the market, we predict a steady growth in the coming years. That is not to say that a pullback may come in the near term, but if we look at Binance as a coin to HODL given Binance’s position within the cryptocurrency market, we are sure to see many bull runs that push Binance Coin into even higher echelons within the market.
As a cryptocurrency exchange, Binance currently stands as the strongest far outreaching its competitors in terms of liquidity, visiting scale, coin hosted, etc.
If Binance can continue to hold its current advantage, it could one day become one of the top 10 banking institutions world-wide. As other major players such as S&P 500, Tesla, PayPal, and Apple Pay join the market, Binance’s value will continue to gain traction.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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