There is not enough data to back this up. Pull up a chart of BNBBTC and see for yourself. Basically the coin always pumped, except in mid 2019 to early 2021. There were coin burns in those dates however price against BTC didn't increase. So its not a reliable way to make money.
The issue with the BNB is that Binance got popular and got tons of volume so thats one of the reasons why it kept increasing in value. It increased due to its utilty and not necessarily the coin burn. Also the coin burn is such a low percentage of total supply. So you shouldn't expect much out of it.
My advice don't try using this method. You will most likely buy some coin and end up bag holding it even if it does burns once in a while.
Topic: Burning plans - page 3. (Read 355 times)
right, by analyzing a project, we can invest, so that if there is a coin burning, it means it will increase the price, and we will get a profit. but not all burning will increase the price, because it is related to how much the project attracts investors to invest in it
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
Burning means the supply is going to get cut off meaning that the prices are going to go down when the time comes that the coins get burned, so yes, it should always be buy before it happens and sell when it happens or when the prices significantly increased.
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
It actually depends on the burning protocols.
Regardless, you should not be based on that factor but instead on the overall structure of the coins before you choose a coin to invest in.
Can you give example and let us look at that project.
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
Depends on you but always mind of about the risk because not every burning events would typically means guaranteed pump of a certain coin even its a top ranking one
but still wont give out some assurance.
Therefore, it would really be varying on your own risk management if you could really able to afford it out on investing into that particular project.
Its your money then its your decision to make not on other people.
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
Some shitcoins also had this strategies but it failed because people nowadays have been educated with tricky tricks from a cryptocurrency developers. Most coins who got this plans was part of their hype, and I don't think it's really doing great all the time, other whales make it as an opportunity to buy an initial holding prior bullish price will be reached. For those established coins like eth and btc, I believed everything is coming to an assurance compared with shitcoins.
Not all cryptocurrency with burning plans is always bullish.
@ololajulo got a point, check always the tokenomics especially if they have these burning plans but look how huge their supply is, it's still no use if they have burned but don't matter at all because their supply is high then the percentage of they planning to burn is extremely low.
Lots of already cryptocurrencies that already got rekt even they have burning plans.
@ololajulo got a point, check always the tokenomics especially if they have these burning plans but look how huge their supply is, it's still no use if they have burned but don't matter at all because their supply is high then the percentage of they planning to burn is extremely low.
Lots of already cryptocurrencies that already got rekt even they have burning plans.
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
In my opinion, it is impossible to generalize like that. There are many factors affecting the price of a coin / token. Just because a coin has a burning event scheduled doesn't mean the price will rise following it.
Buying before is the burn much better. Even way before the news of the burn starts circulating around the community and the price pumps. Selling when the burn happens entirely depends on your target and how frequent the burns are going to happen. If the burns are going to take place periodically, for a solid coin, the price could grow in the long run due to the reduction in circulating supply, so you could even wait for over 5 years if you want (Of course not shitcoins that die within a couple of years)
When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).
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