One of the most remarkable coins to stand out in 2019 was definitely Binance Coin (BNB). In today’s article, we will be discussing the Binance Coin price prediction for 2019.
What is Binance Coin?
Binance Coin (BNB) is the native token of the popular crypto exchange Binance. Binance Coin was first launched in 2017 as an ERC20 token. On April, BNB coin was transitioned to its own Binance blockchain.
The coin was designed to facilitate certain operations on the Binance platform and on Binance Chain. At first, the coin gained attention from traders as paying with the coin will reduce the transaction fees.
BNB price reached high its maximum price of 39.30 per coin on 22nd of June 2019, generating gains of 466% in the past three months.
Source: wallet investorCurrently, Binance Coin (BNB) is trading at $24.92 with a market cap of $4,497,868,164 USD with 155,536,713 BNB currently circulating on the market. The 24-hour price movement chart shows that $235,703,117 USD are being traded. The coin is currently the sixth crypto according to market capitalization.
Binance Coin (BNB) Price Prediction Analysis
Volumes are going up, with the BNB/USD pair has continuing to remain bullish. Currently, the trading value is set over $30.
If prices should go lower, the market would probably go down to previous levels of $28, $26 and $24.
While it kept hovering around the $30, on July 11th, the coin started going down towards $20 levels. BNB is currently trading at $24.92, with a loss of -1.40% over a 24-hour period.
For a mid-term perspective, the BNB/USD pair is going through a downtrend, trending on higher highs and higher lows. The recent price dip is yet to be considered bearish, with many experts predicting a rebound soon.
If the bulls that supported the movement so far the price of BNB will bring the prices back to critical resistance levels, the market will become bullish once more.
What is remarkable about BNB is that it manages to be less affected by a downtrend like other cryptocurrencies. Binance Coin’s many use cases on a top exchange also help its price value. It has been observed that the crypto manages to see growths even during market downfalls.
Development wise, the Binance chain mainnet will run as the main service on top of Binance DEX. Binance Coin’s blockchain will have a dPoS consensus of 11 nodes to ensure decentralization via through pBFT, similar to NEO.
Binance also announced that it has plans on integrating BNB on Trust Wallet as the first mobile crypto.
Market Forecasts for Binance Coin Price Prediction
BNB is regarded as one of the coins that will have the most potential for growth in the future. Below we have listed some of the most relevant Binance Coin price prediction for 2019 from crypto forecasters.
Digital Coin Price
Digital Coin Price has posted its prediction for every month of 2019. The website predicted that by the end of 2019 end, Binance Coin will hit a price of $22.86, which is not far from its current value.
Coin Fan
Coin Fan has made a very optimistic Binance Coin prediction, in which the coin might hit $109 by the end of 2019, and by the end of 2020, it will reach $390.815.
Crypto Ground
The Crypto Ground website has a less optimistic forecast, foreseeing that BNB might drop in the following months and might depreciate to $6.4202.
Coinswitch
Coinswitch gave a very conservative prognostic in their article, predicting that coin might reach $25 by the end of the year. They also made their prediction for the next year, stating that “Binance coin is expected to reach $49.85 by 2020 end.”
Wallet Investor
Form Wallet Investor’s price graph, Binance Coin has touched its all-time high for 2019. The site announced that even though there will be some dips, BNB will most probably maintain its bullish tendencies in the future.
The crypto site made the Binance Coin price prediction of $41.91 by the end of the year.
Tradingbeasts
Trading Beasts also posted its monthly Binance Coin price predictions, stating that BNB might dip to $12.33 by the end of 2019, almost have of its current value.
Even though the coins past prediction for BNB for July 2019 has been surpassed by almost 200%, their long-term prediction state that the coin will continue growing in the next years.
“The Binance Coin price is forecasted to reach $26.64 by the beginning of December 2019. The expected maximum price is $33.91, a minimum price of $23.06. The Binance Coin price prediction for the end of the month is $27.13.”
Coin Predictor
Coin Predictor has made Binance Coin predictions for short periods of 7 days, 4 weeks, and 3 months.
These are the number they provided for the above-mentioned timeframes:
- 7 days: $38.11
- 4 weeks: $45.82
- 3 Months: $60.26
CryptoNewz
“Binance Coin has been one of the most stable currencies unaffected by the market fluctuations and has given good returns in this year to all the investors. But the best is yet to come. BNB may trade around $50 to $100 by the end of this year.”- predicted Crypto Newz.
U.Today
U.Today does not take into account that the coin might dip, that’s how optimistic they are on their prognostic. Their Binance Coin price prediction is one of the most positive of them all, forecasting that BNB will hit a whopping 1,354.66$ per coin in the next year.
Conclusion
Predicting the crypto market is impossible, there are several factors, past trends, and indicators that can help a trader in anticipating the next dip or surge.
From our compiled list of Binance Coin price predictions from various forecasting outlets, we can observe that Binance’s native crypto has mostly positive prospects for 2019 and in the next 2-5 years.
While things are looking ok now, with Binance being a top exchange that is constantly expanding and bringing new developments, BNB will surely benefit from a large user base, as it has many use cases and advantages.
Featured Image: Cryptoline News
