Binance Coin BNB Price Prediction June 2019- Experts Take And Bullish Technical Outlook

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[Updated June 27, 2019] Recently the market cap for Binance Coin (BNB) managed to surpass Ethereum Classic, NEO and a host of other crypto coins to become the 7th largest cryptocurrency by market cap. It’s something that had the Binance team excited, and they took to Twitter to thank their community and angels for the support. The jump was inspired by several positive developments around Binance and the coin, sending BNB prices upward and stabilizing.

Currently trading at $34, BNB price looks to be on the rise again.

Experts’ Opinion On Why Binance Coin Will Rise

Binance coin is the 7th largest cryptocurrency, with a market cap of $5.24 billion. The cryptocurrency has been on an impressive bull run that has seen the price increase by almost 600% since the beginning of the year. Additionally, the coin has in the past few months managed to break away from the trend set out by Bitcoin. BNB is the only coin that has managed to break away and is showing signs of a great future. 

Let’s discuss why experts think BNB’s price will rise. 

According to a leading crypto publication, Binance platform has successfully launched several projects, such as the BitTorrent token (BTT) and Fetch.AI (FET) token, and it is also planning to revive initial coin offerings by generating quality tokens with strong user cases, which will encourage massive participation. Such developments will increase BNB’s adoption, and boost its price. 

 Messari, Binance’s news platform, reported that the ROI for BNB over the last one year was 154%. However, in the last six months, the ROI increased to 560%. Part of the reason is the platform’s strategy of frequently ‘burning’ BNB to constrict supply.  As a proven strategy, this shows that the coin’s price will rise. 

Additionally, WalleInvestor.com believes that Binance Coin is a profitable investment option. According to the site’s long-term forecasts, an increase is expected. The price prognosis for 2024-06-22 is $71.763. With a 5-year investment, the ROI is expected to be +93%. This prediction is based on previous and current developments on Binance platform, and its future plans. 

Other factors that promise to push the price of BNB even higher.

BNB Is Fast Becoming The Next ICO Token

Binance Coin (BNB) is fast becoming a hot commodity as investors rush to purchase the exchange’s token so that they can participate in token sales on the Binance Launchpad.

The Launchpad allows projects to issue their tokens on the Binance Chain which offers a simple and less error prone platform compared to writing smart contract code. It also provides the projects a chance to get their tokens listed on the Binance DEX by being voted by the community.

The leading crypto exchange announced the Launchpad earlier this year and promised to feature at least one token sale per month. So far there have been two which have been a huge success, and this has seen the price of BNB gain over 150% within a month with the coin currently trading at $15.

BNB was trading at $6 before the BitTorrent (BTT) token sale began and broke the $10 mark just a few days before the next sale of Fetch.AI (FET). As a result of the increasing demand, BNB has been able to solidify its position in the top ten.

The gains are expected to keep coming the BNB way as more projects will hold their token sales on the platform throughout the year. Up next is the sale of the Celer Network token which will take place on March, 19.

You Can Now Purchase Real Estate Using BNB

On October 10, 2018 Propy, a real estate firm that accepts payments in cryptocurrencies announced that it would take BNB for property purchases. The announcement was made via Twitter, and it had Changpeng Zhao the CEO of Binance excited:

“Propy will accept BNB for home buying! @Binance Chain is coming and $BNB, which is a great store of value today, will turn into programmable money. For the rapidly growing BNB community, we make it possible to invest in real estate with easy paperwork at Propy.”

Propy is a global real estate marketplace that has a decentralized title registry. By adding BNB as a payment option, the team behind the company aims to resolve issues that hamper international real estate transactions.

Also, they aim to create a unified property store and asset transfer platform for the global real estate industry.

Propy uses smart contracts to connect buyers, sellers, brokers, and escrow/title agents/notaries.

This move is significant for Binance Coin because as more people opt to pay for their property using BNB expect its price to rise higher.

Pay For Your Flight Using BNB

Recently Binance teamed up with TravelBit an Australian company to create a point of sale (POS) in airports both locally and internationally. The partnership saw Binance invest $2.5 million in the startup. So far, the company has managed to launch a payment system in Brisbane airport.

With the money invested by Binance, TravelBit intends to set up cryptocurrency payment terminals in other major airports around the world. It’s a move that will accelerate crypto mass adoption.

Currently, the new POS terminals accept only the top crypto coins – Bitcoin, Ethereum and Litecoin. And very soon BNB will be added on that list. What could this mean for BNB price? We’ll have to see, but it could be huge, as the travel industry touches billions.

TravelBit describes itself as the world’s first digital currency airport. Together with Binance, both plan to promote blockchain based technologies globally.

On the partnership, Changpeng Zhao said:

“Real usage is the most important factor on the way to cryptocurrencies’ adoption. It’s difficult to imagine a better example of cryptocurrency usage than traveling as right after you land in a foreign country you can find yourself lack of local currency.”

In conclusion, these three instances serve to show the growing acceptance of the Binance Coin. It’s safe to expect this adoption to be reflected on its price very soon.

In more minor news, BNB continues to see investment interest from different strategies used by Binance.com Some of those include:

  1. Lower transaction fees when it is used as the transacting cryptocurrency on the Binance exchange.
  2. Various trading competitions which periodically award BNB tokens as prizes. Binance’s Twitter feed has provided some details of the latest Binance competition which will give out 8000 BNB tokens.
  3. The global expansion of Binance, which has recently opened an African office in Uganda.

Technical Outlook

Binance coin with another 50% or more coming? by TexasWestCapital on TradingView.com

The analyst believes that we have one more wave up to complete the count. The volume has continued to increase, and there isn’t bearish divergence just yet on the weekly chart. The supply volume is on the drop in the current blue TR, which was low, followed by much stronger demand volume on the bounce. That seems much more likely to make a Spring rather than SOW, which would make this re-accumulation rather than distribution. Weekly Stoch RSI is also just leaving oversold. So, it seems that we might have a finishing move up before a larger correction. I’m looking for price to target the R4/R5 pivot area, but am open to seeing this final wave over-extend and head even higher.

Binance Coin Continues to Look Very Bullish by CryptoMedication on TradingView.com

The analyst says it has been way too long since we’ve had a Binance Coin price analysis! This one is a bit interesting because so much of the positive price action for Binance Coin has been predicated upon F..A, rather than strict technicals.

Also, the volume for Binance Coin has been through the roof as well this year, and $BNB is the best performing coin out of all major coins in cryptocurrency for 2019. So, there is a lot to talk about in terms of $BNB.

But for right now, we’re going to go ahead and put the FA to the side, and see what’s going on with the coin in terms of its TA prospects.

For this one, we’re going to go ahead and look at $BNB on the USDT pairing (not BTC!).
The first thing that is notable here is the sheer volume of the Binance Coin on Binance over the past few days. That can be observed by the green and red candle bars at the bottom of the chart.

In fact, all throughout 2019, the volume for BNB has been crazy. And when you zoom out of the chart, it’s obvious to see that it is in full bull market mode, which means:

1. There are more green volume candles than red ones.

2. The green volume candles are ‘higher’ than the ‘red’ volume candles (i.e., buy volume > sell volume )

3. The drawdowns have been far and few in between. There’s mostly just been brief periods of correction/consolidation before further advances in price action.

BNB / BTC – BULLISH INVERSE HEAD N SHOULDERS LONG by crptonoob on TradingView.com

The analyst believes the Chart overall is overly bullish here – we have inverse head and shoulders pattern, if you’re still BNB, Hold it until clear reversal signs come out.

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