Search ForexCrunch
  • Binance Coin Price Rises By 5% Heralding A Recovery
  • Exchange Coin Had Lost Substantially After September 7 Flash Crash Dropping By 20%
  • Continued uncertainty in crypto market has had an effect on several coins including BNB

The Binance Coin Price is up to $415-$425 having dipped below the $400 mark on September 13 with continued FUD surrounding the crypto market. BNB has been one of the slowest coins to recover from the July 20 swing low of $265 although it had reached the $504 mark on September 5. The continued spectre of regulation seems to be spooking the crypto market with several coins still around 20% off their bi-monthly highs.

Although the Binance Coin price ascended considerably over the past weeks, it appears that momentum has slowed, at least for the present. Binance’s CEP Changpeng Zhao has indicated that the exchange is fully compliant with regards to regulation although countries such as Singapore are still restricting Binance’s operations. A recovery still appears to be on the cards for BNB.

If you haven’t yet bought some Binance Coin, then take a look at this How To Buy Cryptocurrency Beginner’s Guide.

Short Term Price Prediction For Binance Coin Price: A Slow Recovery Expected Barring Pullbacks

It seems like the Binance Coin price is in recovery mode after the September 7 flash crash. It has risen around 5% since the low of $397 established on September 14. Although the market mood appears bearish, there is still substantial potential for an upswing if the sentiment changes. Recent news about possible tax loopholes being closed for crypto investors could also have an effect on future price movements.

If a bullish thesis were to re-enter the market, the Binance Coin price would probably tag the $440 level or an 8% rise. If that resistance were to be overcome, then BNB could be expected to rise to the $475 mark rather quickly, although this could take slightly longer to achieve.

If the bearish scenario remains, then one would expect the Binance Coin price to revisit the $400 level and perhaps drop back to the $395 mark. If a further sell-off occurs, BNB could also drop to the $370 level although that seems unlikely at this point.

If you’re interested in trading some cryptocurrency then you should take a look at these Top Cryptocurrency Brokers.

Long Term Prediction For BNB: Still Bullish Till End Of Year

Although the ascending trend for the Binance Coin price has been stopped in its tracks after the September 7 flash crash, there is still bullish sentiment over a long-term period. The recent rumblings on the closing of crypto tax loopholes for US crypto investors could also have some sort of effect on the expectations for Binance Coin but these should be largely shrugged off.

Analysts are expecting the Binance Coin to reach anything between $600 and $900 by the end of the year. Whilst the higher price point is a possibility, it is more likely that an average of this will be the result.

Where to Buy BNB

If you want to purchase Binance Coin, you can do so on the following exchanges:

eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
Binance
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.

Looking to buy or trade Binance Coin now? Invest at eToro!

Capital at risk

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.