Binance's native blockchain token (BNB) experienced a dip in price after the SEC fiasco. The exchange is facing heavy pressure by the US government regulatory agency. If Binance wins a lawsuit against the SEC, BNB's price could go all the way to the moon in an instant. But if it loses, BNB could experience new lows until it goes below the "triple digits".
I'm wondering if now is the good time to buy BNB or should I wait a little bit more? The crypto market is still bearish, so we should expect further pressure against an altcoin like BNB in the short term. Who knows if BNB will reach higher prices in the future? Your input will be greatly appreciated. Thank you.
I'm wondering if now is the good time to buy BNB or should I wait a little bit more? The crypto market is still bearish, so we should expect further pressure against an altcoin like BNB in the short term. Who knows if BNB will reach higher prices in the future? Your input will be greatly appreciated. Thank you.
BNB is unlikely to fall below $200, unless there will be some serious events with Binance, which will contribute to the decrease in the rate and prosecution of the exchange by the regulators. In my opinion, such events are unlikely. Right now the price is not so high to invest in the long term. I think in 2-3 years, the price of BNB may reach $1,000 and bring a few hundred percent return from the current marks.
I believe in the capability of BNB since it provides liquidity for the exchange which is the major community for the coin.