With the emerging popularity of cryptocurrency, plenty of new tokens have come into limelight. Binance (BNB) is one of them and it is the native coin of the largest crypto exchange, Binance. The token is grabbing the mass attraction of investors but the crypto market is full of risks and nothing is fixed there. People want an idea about the price of any digital currency before investing in it. If you are looking to invest in Binance coin then you have landed at the right page. I am here with my Binance coin price forecast based on its technical and other aspects.
So let’s start our Binance coin price forecast to give you an overview of its value but one thing always keeps in mind we are giving information only. We are not suggesting you to invest in any particular coin.
What is Binance Coin?
If you are a crypto geek then you would probably aware of one name, Binance, a renowned crypto exchange. Binance token is a cryptocurrency which is developed by the Binance and it is known as BNB. BNB is powered by the Ethereum blockchain platform and all its operations take place on Binance.com. BNB is utilized by the users to convey the fees of the Binance exchange for the services. You can also trade BNB on other crypto exchanges.
Binance Coin Price forecast 2019
Binance coin is issued by the well-known crypto exchange and it seems a long-run horse in the digital market. Currently, it’s price is $ 14.79 and when we look at the technical aspects then we assume that it may go drastically in upcoming months. After intense research, we gathered the factors which can drive the growth of BNB. Here are the reasons why Binance coin can be a fruitful deal:
- Binance Coin is powered on the Ethereum blockchain platform but the in March 2018, the company announced that they will move the Binance on their own blockchain platform. The platform is under progress now and after the development, Binance will be remodeled to a decentralized exchange and this means that BNB token will also navigate to the new platform.
- One of the most important factors is that if traders utilize the BNB then they can pay the trading fees on a discount. As you know millions of traders using Binance platform and that’s the reason of its certain growth.
- Doesn’t matter market is bearish or bullish exchanges are always in profit. They will charge transaction fees in every situation so they don’t face any loss at any time. It will be a stupid act for the traders if they don’t purchase the BNB. This reason can enhance the growth of Binance coin.
- The reason behind the success of any cryptocurrency exchange is the availability of proper funds. According to coinswitch Binance has traded about 380 cryptocurrencies as of August 2018. That means the exchange has sufficient liquidity.
- BNB is listed in the top 10 cryptocurrencies based on the market cap.
Binance Coin Price Forecast: Whether you should invest in BNB or not
After analyzing the above facts we can predict that the coin can go above $ 20 in the next six months. But it may be more profitable if you invest in BNB for a long term basis. It is expected that Binance can cross the $ 35 level in the upcoming 5 years. The progress of the token is based on the performance of the exchange and I think it is the fair Binance price forecast no bullish. But the crypto market is full of volatility and there may be a sudden rush or down in any currency’s price. So it is advised to do your own research first before diving into any token. Indeed Binance coin is showing great potential in upcoming months and it may be a profitable deal to invest in Binance token.
Binance exchange has decided to spend 20% of its profit every quarter to purchase back BNB and burn them. This factor may also be responsible for the growth of BNB. there are lots of reasons for the success of Binance coin but don’t forget the notorious nature of the crypto market. So first research on your own and then move further.
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