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Binance Coin (BNB)Price Prediction 2020- Experts Take And Bullish Technical Outlook

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Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi

(Updated July 04, 2020)  Binance coin had a spectacular year in 2019, even though its growth did slow down in the second half of the year. Buoyed by the launch of several IEOs through the Binance launchpad, BNB managed to outperform BTC by the end of the year achieving gains of over 150%. Remember this token at some point in 2019 managed to register gains of over 600%.

Key to the success of BNB has been how Binance exchange has masterfully managed to engineer the token to become an all-encompassing aspect of every facet of its ever-growing ecosystem. So far, it’s being used to purchase tokens for various IEOs, BEP2 transaction fees, DEX listing fees, and BEP2 token migrations.

This increased utility means BNB will continue to perform well throughout 2020.

In this piece, we are going to take a look at expert opinions and technical analysis, which suggest that BNB is set for good times in 2020.

Buy BNB on Binance today!

Experts’ Opinion On Why BNB Price Will Rise

Tomaino, a former Coinbase employee, believes that there is a bullish case for BNB token. He argues that this will remain to be the case of Binance maintains its dominance in the cryptocurrency exchange industry. This is contingent on Binance evolving with improvements in decentralized exchange services. This will see the coin’s price surge.

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 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. 

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

BNB Is Fast Becoming The Next ICO Token

The rise to prominence of the IEO fundraising model has played a crucial role in the growth of BNB. Binance kept their promise of supporting at least one project every month through its launchpad.

By the end of the year, the exchange had held IEOs for eleven different projects, including; BitTorrent, Fetch.AI, Celer, Matic, Harmony, Elrond, WINk, Perlin, Band, Kava, and Troy.

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.

To participate, one needs to have BNB, and this explains why we saw the token increase in value in 2019. With more IEOs scheduled to be launched this year, we can expect to see the price of BNB continue to appreciate.

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.

Buy BNB on Binance today!

Binance Coin (BNB) Price Prediction TradingView Analysis Updated July 04, 2020



BNB/USDT LONG POSITION by Trader_Anderson on TradingView.com

For the Binance Coin (BNB) digital asset the analyst shows that the virtual currency tried moving below the $15.1 support level, which was not able to do. Indeed, it failed. Then, BNB/USDT formed a higher low and pushed the price to $15.4 where it is currently being traded. 

During the last days, BNB has been threatened by Cardano (ADA) and also Crypto.com Coin (CRO). Thus, traders would need to see how the sentiment continues in the market. 

The analyst considers that it would only make sense to purchase this virtual currency above the $15.5 price level.


BNB/USDT by ROBINHOODLAB on TradingView.com

There are some analysts that have opened short positions on the BNB/USDT trading pair thinking about an entire crypto market that could continue falling in the coming days and weeks. Although not everyone is bearish, the analyst Robinhoodlab considers that we could see the price of BNB falling. 

If that happens, he has a few take profit levels, which include $16.58 per BNB, $15,31, $13,90 and $12.66. Everything clearly depends on how the entire crypto market will be behaving in the coming days and how altcoins will react to Bitcoin moving upwards or downwards.



Binance Coin (BNB) – May 24 by readCrypto on TradingView.com

In the BNB/USDT trading pair, we have an analyst explaining which are the points that we should take into consideration looking at a wide range of support and resistance levels. 

The trader shows that this digital currency should support 16.7516 points. Moreover, in Fibonacci, he stated that 16.7852 “is the middle.” Now, as the market is moving downwards, it would be important to see how BNB is going to behave in the coming hours and weeks. 

There is a current trend line (number 2 in the chart) that has to be supported by BNB in order to remain in the bullish side.


Binance Trading Idea by MarketMinds on TradingView.com

The analyst says that Binance seems to be going to test an important support level in a few days. It will be an excellent opportunity to open long position in Binance coin with a low ration risk/return.



Buy & Hold Idea for BNB/BTC (May 2nd, 2020) by philiparthurmoore on TradingView.com

The analyst doesn’t believe that this needs much explanation. There is some risk here as BNB has been in a very long downtrend against BTC for quite some time, however, he believes that the FA, coupled with the TA here, makes it for a worthwhile bet. Stops can be relatively wide here because BNB holds value beyond just trading it.

Buy BNB on Binance today!

It’s clear from the above analysis, expert opinions and the general bullish mood within the crypto market that this would be the perfect time to get your hands on some BNB. Especially now that the market has retracted as it prepares for the next rally as we move closer towards the final quarter of the year.

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