Cryptocurrency

Binance Coin BNB before a massive break-in?

Fortunately, summer follows Winter. And so long ended up lasting Crypto-Winter of last year, with the beginning of 2019. In particular, Bitcoin has been an outstanding year behind and has been since the beginning of the year growth of 161%. Less good it looks in the entire Altcoin market. Only a few “pearls” were able to assert themselves, and even the mother of all Coins to surpass. An example of such a pearl of the Binance Coin BNB that has a YTD Performance of 242% is executed.However, since the announcement that Binance, according to the United States back to the BNB rate is under pressure. And exactly this is now stuck by the opinion of analysts, is now in trouble. Because, according to his analysis of the Binance Coin, the BNB could fall by up to 40% and thus the majority of this year’s profits naught. Let’s take a closer!

Binance Coin BNB in front of a 40% break-in?

A simple Resumé for the first half of the year could look as follows: 2019 was the year of Bitcoin, as well as the year of Binance. Because Bitcoin could recover from his ‘winter sleep’ and Binance cement its leadership position through several innovations:The speech is here, for example, of the Binance Decentralized Exchange (DEX), the introduction of a Margin trading or the Binance launch pad. The latter provided in particular for a revival of the market and replaced (unofficially) the old-fashioned ICOs. In addition to the ability to create and implement innovative ideas, it creates Binance to integrate the native BNB Coin in the best possible way in the own Ecosystem. And so the Binance launch pad for inner-earth objects (in addition to the General increase in the volume of trade) has to contribute a large part to the fact that the Binance Coin, the BNB has enormously performed strongly. In the past few weeks there were news that show us that Binance would like to expand their own Power more.In June, the setback for the largest Crypto came, however,-Exchange. Because Binance announced that due to the legal Situation in the USA, the doors for the investors to close. This is a setback, as the United States and the local traders contribute a large part to the volume of trade.And if we look at the Chart over the last 3 months, we see Parallels. The BNB exchange rate rose since the beginning of the year of about 6 dollars a year-high of $ 38 in June. Since the just-described notice to the NBB price knows only one direction: downwards. So BNB fell in the last 3 months of $ 38 to a current level of 21 dollars, and thus has lost almost 50 percent of its value. The following Chart shows this very well:do you Want to at one of the world’s leading CFD brokers act? We have for you in our Plus500 Test all the need-to-know info, as well as the pros and cons collected and written down. Just have a look on the Test or see for yourself and join today at Plus500.

Binance, BNB and the uncertainty in the United States

Thus, the U.S. trade device is not, however, completely under the wheels, had to come up with Binance a different solution. And so Binance will handle in the future, the trading for US citizens a U.S.-based Binance-stock exchange – the Name: Binance.US. The disadvantage of the ’new‘ Binance stock market lies in the fact that only 29 Altcoins and Bitcoin to be traded.You have to be a mathematician to recognize that there is a significant limitation of the existing offer.This is accompanied by uncertainty about the future use and implementation of the Binance Coin goes. Is the same role, the BNB playing like currently? Or it will be due to US legislative restrictions? And it is precisely this degree of uncertainty pushes BNB. The Trader Teddy now suggests in a Tweet that BNB was on a ‘dangerous’ support. Because if this does not hold, the next Support Level of 40% below the current price. In other words: Teddy warns of a 40% slump in the Binance Coin BNB.

The scenario would occur, would have to BNB there has been some loss, and his place as one of the best performing coins in 2019′ comfortable rooms. At this point it should be said, however, that the analysis for the trading pair NBB/BTC and not BNB/USD.What do you think about the Binance Coin, the BNB and the course of history? You see, the risk of a 40% correction? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News.76.4% of all CFD retail investors lose money. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.