Binance coin or known as BNB coin will begin their 16th token burn on this month (around mid-July 2021), last year, they have running BNB burn for 12th on July 17, 2020. Will you buy BNB now or just wait and see because market still looking not too good?
If the amount of $ burn similar with previous burn, it's mean they will burn around 2 million BNB coin worth of $600million
Personally, I would not be in a hurry to buy BNB right now, but it is better to see what will happen after the coins are squeezed. Now the crypto market is too unpredictable and it is very difficult to make the right decision. But there is news that large players are actively buying cryptocurrency right now, which means they know something. If we assume that the crypto market is playing out one of the past scenarios, then it is likely that by the end of this year we may see another phase of growth in cryptocurrencies, but before it there is a high probability that the market is going down again. Of course, this may not be the case for this, it is best to closely monitor the current situation, so that, if necessary, you could enter the market or exit it in time.
- Agree, the market is on track to decline at a record high, although the last few days the recovery signals have been triggered but the parameters are still not optimistic for a rebound season and this partly affects the movement of altcoins, so the burning of BNB will not be able to predict the results to come. Investing in can also be good or not, located in a position where there are not many such opportunities, it is better to stay neutral to see the development of the scenario.