Price Analysis

Binance Coin (BNB) Price Analysis: Is Consistency the King Maker for Binance Coin?

Binance coin (BNB) is a major crypto coin relied on Ethereum blockchain technology. It is currently being traded on the cryptocurrency exchange. As a decentralized and secure crypto coin, it aims to be operated on its own exchange. Some of the major features of Binance coin (BNB) include Order matching, Liquidity, and Multilingual support. The name of this coin implies the mix of two names ‘binary’ and ‘finance.’

Current Statistics-

Binance coin

  • Binance coin (BNB) is currently 7th largest coin in the global market.
  • The ROI (Return on Investment) of Binance coin stands at more than 9000 %.
  • The total number of coins in current circulation is 141,175,490 BNB.
  • The current market cap as on 30th April at 02:14 UTC is 3,083,884,587 USD.
  • The value of each coin stands at 21.84 USD and 0.00415507 BTC.
  • The 24 h volume at the same UTC is 199,995,927 USD.

Comparison-

Binance coin (BNB) started the year with a humble rate of 6 USD. It was a decent price considering the crypto winter of 2018. However, the coin gained momentum gradually. With no signs of bear, it moved to 20 USD by April 17th. After April 17th it got a steep rise. The highest point of the year was achieved on April 21st at 24 USD. The market cap on 30th March was 2,338,163,099 USD. And the value of each coin was 16.56 USD and 0.00404513 BTC. The current Market cap and value of each coin is almost 31.89 % more than the value of 30 days back.

Prediction-

With not many inconsistencies, Binance coin (BNB) has shown tremendous growth since the starting of the year. The latest huge gain over 6 USD was made on April 18th.  We predict the short term outlook of Binance coin to be bullish. The coin will face resistance at 25.5 USD. It may touch 75 USD by the end of 2019. Sticking to Binance coin till 2020 may push the value to more than 150 USD level. It should be noted that the growth path of Binance is not going to be smoother. It will have its own share of ups and downs.

Conclusion-

We advise the short term investors to look for the correct time for locking in a buying position. This will give them a huge profit. The medium-term and long term outlook is bullish. Keeping the investment intact until the end of 2019 may give a profit as huge as three times of investing amount.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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