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  • Binance Coin Price has dropped by around 20% to $410 But Is Recovering Slowly
  • This may be the last time to acquire BNB at a relatively cheap price
  • Flash crash in crypto markets hit several coins hard including Binance Coin

The Binance Coin price is currently trading at the $418-$420 level after having dropped to as low as as $396 on Tuesday. The drop from the bi-monthly high of $505 was swift and brutal with a 20% crash over a few hours but the green shoots of a recovery are appearing 48 hours later.

The disastrous El Salvador Bitcoin rollout undoubtedly had a detrimental effect on the broader crypto market with some exceptions. Binance Coin was not one of them however with a considerable fall experienced. All the recent FUD regarding regulation certainly didn’t do the exchange coin any favours either.

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Short Term Prediction For Binance Coin Price: A Slow Climb Upward With Possible Pitfalls On The Way

After having suffered a considerable crash over the past few days, the Binance Coin price looks to have started a recovery. It is worth noting that BNB has recovered substantially since its July 20 swing low of $264 when it touched the $510 level on September 6 only to crash spectacularly only a day later.

If a bullish thesis were to continue prevailing then one would expect the Binance Coin price to rise by around 8% to the $450 level where it would encounter its first resistance. However, if that price level were to be superseded then BNB would have a clear run up to the $500 level again.

If a bearish thesis were to come into play, then the Binance Coin price would probably drop below the $400 level where it should find some support at $390. A similar sell off like Tuesday could signal a further decline but that looks rather unlikely at this point with the market recovering quite quickly.

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Long Term Price Prediction For BNB: Potential To Reach Another All Time High But Very Slowly

In a similar vein to Dogecoin, the Binance Coin price has been rather sluggish since its May crash where it sank by around 70% from its ATH of $665 in April. It has recovered substantially from its July 20 swing low of $264 but the recent setback has lost it time and pared off substantial gains.

On a long-term basis, the Binance Coin price still appears bullish and should reach the mid $600 levels by the end of the year. Some more bullish price predictions are being touted such as the $900 mark but that appears rather far-fetched.

Where to Buy Binance Coin

If you want to purchase BNB, you can do so on the following exchanges:
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The other platform where you can buy BNB is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

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