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Binance Coin (BNB) Very Good In The Future, Immediately Consider The Word Of This Analyst.

Written By Hanny & Melissa on Monday, March 18, 2019 | Monday, March 18, 2019

From the beginning of the year, the price of Binance Coin (BNB) tokens has risen by at least 150 percent. Quoting Coinmarketcap on December 31, 20108 the price is still in the range of US $ 6.16. on Saturday (3/16) it was in the range of US $ 15.42. This is what analysts say about Binance Coin's future opportunities

This increase was triggered by a number of positive sentiments such as coin burn 1,623,818 BNB worth US $ 9.4 million in mid - January. Binance also has a policy to buy back or buy back BNB every quarter. This buy back is taken from 20 percent of the company's profits.

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With this buyback, the supply of BNBs in the market has gradually decreased, reaching only 100 million, from 200 million during the ICO. "If the total supply of the BNB decreases, the value will rise ". Said Danny Taniwan or Co-Founder and Business Development Indonesia Blockchain Network (IBN)

Christopher Tahir, crypto analyst from CryptoWatch said, BNB is currently in a position that shows a very significant increase where prices have risen almost four-fold since last December 2018. "This of course makes many market participants wonder, because the BNB currently only has one utility function, namely a payment transaction discount on the Binance exchange. However, there was a real step from Binance's boss, Changpeng Zhao (CZ) to provide the adoption of tokens in bulk, so this made the demand for these tokens tending to increase. Binance does have a variety of social programs and good partnerships, such as cooperation with several companies to be willing to accept BNBs. " Chris said

Not to mention, the impact of the coin burn mechanism that is carried out every time there is a profit that the company gets, which causes the amount of supply to shrink.

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From a technical point of view according to Christ, it appears that this token shows a very bullish condition with prices reaching the closest resistance point (resistance) around the level of US $ 15.5, causing a temporary pressure on priceswe estimate, with the pattern of depressed price movements and price rally in the near future, then there will be a price opportunity to experience a downward pressure ". He said

In the near term, Chris estimates that BNB prices may decline to the level of US $ 12.5-13. To traders, Chris recommends that at this time be able to realize profits before re-entering at a lower price. While for the holder, he suggested waiting for further decline, up to the level of US $ 12 to start the accumulation of tokens again.

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