Binance Coin Price Prediction For 2021, 2022, 2023, 2024 and 2025
Binance coin (BNB) was launched in 2017 and caught the cryptocurrency community's eye at large. Binance coin quickly established itself among the top cryptocurrencies, breaking into the top ten cryptos by market capitalization. Even though the Binance coin is the internal currency of the Binance exchange, like other cryptocurrencies, it is subject to market volatility and can be exchanged for other crypto assets. However, The Binance Coin price prediction forecasts that the token will have a bullish few years ahead of it.
What Is Binance Coin?
Binance Coin is the cryptocurrency of the Binance exchange. It is like other cryptocurrencies and can be used in exchange for other assets. Like other cryptos, it is also subject to volatility, depending on market conditions. Binance Coin has three primary functions
Binance Coin can be used as a trading asset
Users can use it to reduce commissions on the platform.
It can be used to pay for assets or goods on websites accepting Binance Coin.
Binance Coin has a unique characteristic where there are regular burns of the cryptocurrency. The goal is to reduce the reserve Binance Coins to 50% of the cryptocurrency's initial reserve.
Binance Coin Prediction: Price History
Binance Coin started with a price of $0.1 in 2017. By the end of October, the price of the cryptocurrency crossed the $1 mark. The price kept increasing gradually and saw its first major rally in January 2018, when the currency jumped from $8 to $24 in a week. However, it couldn't stay at this price level, and after encountering some volatility, dropped back $8 by the first week of February. The price remained relatively stable for a couple of months, although the overall pattern was a gradual price increase. By June 2017, the price of Binance Coin had doubled from its price in February to $17.
From June 2018, the price saw a gradual decline. Although there were no sudden drops in value, the overall trend was a gradual decline in price.
Binance Coin hit a low of $4 in December 2018 before starting to climb again. It started 2019 on a positive note with a noticeable price increase. Until April, the currency kept appreciating reaching a peak price of $34 on May 25, 2019. Despite encountering some volatility after reaching this price point, Binance Coin further climbed to $38 in June before falling to $27 in less than a month. The cryptocurrency remained relatively stable until the middle of August, before beginning a downward trend.
By the end of September, Binance Coin had fallen to $15. It found some support at this price and maintained the price level until the end of the year.
Binance Coin started 2020 at $13 but immediately started going up in price. By mid-February, the currency was trading at $26 but fell to $9 in a little over a month. The price kept rising gradually, and by the first week of August, it was trading at $22.
September 2020 saw Binance Coin break the $30 barrier, and it kept between the price levels of $25 and $35 until the middle of December. The cryptocurrency rallied in the last week of December 2020, and by January 18, it was trading at $45. The price briefly fell to $38 before rallying spectacularly, reaching $133 by February 14. Currently, Binance Coin is trading at $130 and is expected to increase in price.
Binance Coin Prediction: Price Analysis
Binance Coin started December 2020 at a price of around $30. It remained relatively stable, briefly falling to $27 before rallying fairly quickly. By January 7, it was trading at $43. It briefly fell to $38 before picking up once again. This time the rally was swift. By February 7, the currency was trading at $72, almost doubling in less than a fortnight. It didn't stop here as it surged once again, and by February 14, it was trading at $133, almost doubling in less than a week.
Most analysts agreeing that Binance Coin will maintain its bull run and rally further. Let's look at the Binance Coin price prediction for 2021 and beyond.
Binance Coin Price Prediction 2021
Binance Coin has already surpassed most predictions for 2021, with the cryptocurrency already trading at $130 and expected to rise even further. With interest in the coin increasing and investors increasingly being drawn to the currency, the price is set to increase even further.
Binance Coin could hit $200 by the middle of the year and could even push $300 by the end of 2021. Most Binance Coin price analysts now forecasting the currency to break the $300 mark in 2021.
Binance Coin Price Prediction 2022
Analysts predict a very bullish year for Binance Coin in 2022, with most Binance Coin price analysts predicting that it could start the year at a price of $400 and reach $700 by the middle of 2022.
BNB might also find support at 700$price level and maintain it for the rest of the year, with some predictions suggesting that it could trade at $800 by the end of 2022.
Binance Coin Price Prediction 2023
The price of BNB could remain at $800 level IN 2023. Some analysts predict a minor price correction, but the cryptocurrency is expected to maintain a positive outlook in 2023 and not see any drastic fall in price.
Binance Coin Price Prediction 2024-2025
The current bull run has defied all Binance Coin price predictions. In 2024 and 2025, Binance Coin could break all previous records and reach new heights.
There is a genuine possibility that Binance Coin breaks the $1000 mark sometime in 2025. The price could go upwards given that it could see some new features added to it by that time.
BNB Predictions By Cryptocurrency Experts
WalletInvestor believes that BNB is in for a bullish year and could see significant growth in 2021. It predicted that Binance Coin would break $100-$1500 by the middle of the year. However, Binance Coin has beaten these expectations spectacularly so far.
DigitalCoinPrice had predicted that Binance Coin would push the $200 mark by mid of 2021 and then fall due to a price correction. According to its projection, BNB would post a stellar recovery and finish 2021 on a high mark of $250.
Coinpedia predicted that Binance coin could push $500 by the end of 2021, and looking at the current performance of Binance Coin. Their prediction could turn out to be correct.
Binance Coin has defied pretty much all predictions and has reached prices that no one predicted it would, at least not so quickly. It remains to be seen if this bull run can last, but most signs point to the cryptocurrency maintaining this stellar run.
Factors Influencing The Price Of BNB
Since Binance Coin has defied all expectations regarding its price, let us take a quick look at what factors are influencing the price of BNB.
1. Quarterly BNB burns:
Binance burns a small percentage of BNB every quarter. The goal is to ensure that only half of the originally issued tokens remain in circulation.
2. New product launches:
New launches like Binance DEX and the Binance chain have had a positive influence on Binance Coin's price. Binance Coin is one of the main trading assets on Binance DEX.
3. IEOs:
Binance has its own platform allowing start-ups to launch their campaigns. Binance Coin is used to buy new tokens, resulting in more people purchasing Binance Coin.
4. New markets:
Binance Token depends on how well the Binance exchange performs, and with the exchange expanding into new markets, the price of Binance Coin is bound to increase.
Binance Price Prediction: Conclusion
It remains to be seen how Binance Coin performs over the next year and beyond. Most Binance Coin price predictions forecast a bullish market for the currency, meaning that we could see a sustained increase in the cryptocurrency's price.
For the above reason, this could be an apt time for investors to enter the market and make a significant profit.
If Binance Coin continues defying expectations and performing as it has been, it is safe to say that Binance Coin is one of the best investments in the crypto space.
However, keep in mind that the price is dependant on the market sentiment, which could change at any point, having a positive or negative effect on the cryptocurrency. It is essential to be thorough with your research before investing in Binance Coin.