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.
You need to measure your risk so that you will know what you will be gaining when Binance win the lawsuit leading to the bull movement of BNB and what you will lose when if Binance lose the lawsuit that could make the price of BNB to plumate drastically. Everything we do in the market is all about risk and we must be ready to take it if we want to be a strong and profitable investors. There are projects that we can buy and hold that will give us good amount of profits but we might not want to take the risk because of our risk of what could happens to us if we lose. 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.
Let's just hope that won't happen because other cryptos can also get affected with it as people's confidence against crypto will get lessened once again. Everything has a risk but there is also a reward if we get lucky and if we work hard so we must not be afraid to face them.