Binance Coin price falls to $16.00. What are your thoughts on the coin and the current movement?
I believe there is an anger for CHinese stuffs worldwide. Be it crypto or anything else. China should step in and provide un-conditional free equips to all nations instead focusing on their economy. Their economy’s only target should be mankind at such fatal times, if they dont abide, their economy and they will be world’s target :p
Ryan Shaw right. The price increase is because of their vast network of crypto users. I havent seen any site so far accepting bnb explicitely for payments. Most are hodling because if its network power. Eventually its the use case that makes a crypto long term coin rather than its reach. And the usecase of bnb so far is free discounts as bnb tokens nothing more.
They lost a lot of trade volume when people could no longer trade on the non-U.S. version to avoid paying taxes on every trade. The vast majority of their trade volume comes from the United States. Less reason to trade (or trade as often) on Binance = Less of an incentive to hold BNB = Price drops. I’m surprised it hasn’t corrected sooner. Still solid to hold some though.
If it was a super quick fall like overnight oh, I would definitely snatch up a few Bitcoin. if it was a multi-year decline like over the next five years it got all the way that low then no I would definitely except that I had guessed wrong on a speculative asset
Made my best gains with BNB. Bought at $9, sold at $32.32 has potential like the other thousands of Cryptos. Good luck