Binance Coin (BNB) is the pivotal point of one of the biggest crypto-to-crypto exchanges in the world. Therefore, we regard it as one of the main players in the market. Many investors take a keen interest in BNB as it has proven to be one of the best performing cryptocurrencies during the prolonged bearish market sentiment. In that spirit, we bring you the top Binance Coin price predictions for 2020.
What is Binance Coin?
Binance launched BNB as an ERC-20 token in 2017 after a successful ICO campaign. The company set the initial total supply of BNB at 200 million. However, as Binance stated many times, coin burn events have lowered that number substantially over time.
The Binance Exchange ecosystem keeps BNB as the primary means of payment on their exchanges. Traders who pay their fees in Binance Coin get a special discount. Therefore, Binance clients are incentivized to use the coin as an alternative to BTC on Bitcoin-oriented platforms. Besides trading, Binance Coin is crucial in other projects run by the company. For example, it is the main cryptocurrency in Binance Charity Foundation and as a gas on BinanceDEX.
Recently, the coin migrated to its native blockchain, allowing users to enjoy a much higher TPS rate than it was possible on Ethereum. Currently, BNB occupies the 8th spot on CoinMarketCap with the price of $15 and the market capitalization of $3.8 billion.
Binance Coin Price Predictions for 2020
We have chosen five of the most important outlets that forecasted the future price of Binance Coin. In no particular order of importance, these are the sources whose predictions we are about to present:
- Wallet Investor
- Trading Beasts
- Captain Altcoin
Let’s get straight to it!
Contrary to the majority of their other predictions, Wallet Investor sees BNB as a potential high-gainer cryptocurrency. Nevertheless, the outlet detects that the current market sentiment towards BNB is bearish. The forecasted price at the end of the year, according to Wallet Investor, goes as low as $10. However, their long-term prediction is quite optimistic.
Thus, for 2020, Wallet Investor observes the BNB potential as huge since they predict 81.24% positive price movement in a year span. That means that the price of Binance Coin could reach $27.21 until the end of 2020. Yet, Wallet Investor leaves some room for even more optimistic predictions. The chart presented on their website shows that BNB might even repeat it’s all-time high of $40 during the next year.
Trading Beasts don’t share the same sentiment as Wallet Investor. According to their analysis of historical data and linear and polynomial regressions, BNB should remain stagnant throughout 2020. Moreover, if Trading Beasts are to be believed, Binance Coin will record a slight loss as the year 2020 reaches its end.
Therefore, at the end of December 2020, this website’s authors predict that the price of a single BNB will be $14.67. This means that if investors would acquire some Binance Coin now, they would lose 0.34% of their investment. On the way, the BNB price is not to record any extreme movements. Instead, according to Trading Beasts, it is going to fluctuate around the current price with no more than 4% monthly deviation.
Captain Altcoin presents one of the most optimistic Binance Coin price predictions. According to them, Binance Coin is to grow proportionally with the Binance exchange and its additional platforms and services. Since Binance is growing exponentially, so should BNB.
Therefore, Captain Altcoin forecasts that Binance Coin may even reach as high as $30 in 2020. Interestingly, that would be the exact 100% rise from today’s value. However, Captain Altcoin’s prediction dates back to November 16th. Please bear in mind that the overall market conditions have changed since then. Therefore, the price prediction may not be as accurate as it seemed back in the day.
In their extensive analysis of Binance Coin, Coinpredictor presents the argument that BNB is able to rise above $20 during late 2020. Their prediction is based on unnamed experts’ opinions. However, the road towards those hights will not be an easy one, states the outlet.
During the first fiscal quarter of 2020, BNB is bound to produce losses, according to Coinpredictor. So, until the end of January, Binance Coin can sing as low as $7.2, losing 53.5% of its current value. Nevertheless, until the end of March, Coinpredictor forecasts the rebound towards $13.34. Despite the fact that they didn’t disclose what should happen next, considering the starting bullish prediction, it should be all positive for BNB if it is to reach $20 until the end of 2020.
Our final Binance Coin price prediction comes from U.Today. In their article published on May 30th, the news outlet takes into consideration all the positive and negative aspects of the Binance ecosystem while trying to predict the future price movement. It mentions the Binance exchange as the main fuel behind the BNB growth. However, despite the fact that Binance is based in Malta, U.Today acknowledges the possible problems with Chinese regulations affecting the coin’s price.
U.Today starts its optimistic forecast with a possible valuation of $25 per coin in 2020. Nevertheless, they do leave room for an even higher price. According to U.Today, BNB could be worth around $33 per coin. That means that investors entering the BNB market today would record a nice 120% profit in a single year.
Conclusion – Top Binance Coin price predictions 2020
Some of these five top Binance Coin price predictions for 2020 are far apart. Depending on the time of publishing, their predictions vary greatly. From extremely positive to border bearish. This marks a certain level of indecision in the market, even among the experts.
Trading Beast’s $14.67 forecast differs by a wild 125% from the most bullish $33 price tag predicted by U.Today. Therefore, all traders have to practice the ultimate caution when investing in Binance Coin during 2020. It is highly possible that not only technical but also some major fundamental aspects of the game prove to be crucial for the price of Binance Coin. Hence, prepare yourself for any outcome.