Is now a good time to buy BNB? - page 4.

Abiky

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Quote from: Xal0lex on June 30, 2023, 12:57:45 PM

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.

Maybe. It all depends on BNB's level of mainsteam adoption and Binance's ability to remain resilient under regulators' pressure. If there's no excitement for the cryptocurrency, prices will continue to fall all the way down the drain. I think BNB won't go below "the triple digits", simply because Binance is constantly burning the coin supply. This should make BNB deflationary in the long run.

The blockchain platform underpinning BNB (known as BSC) is similar to Ethereum, so it has a huge advantage over its competitors (especially Solana and Cardano). That's because Solidity (through EVM) has a lot of support in the crypto/Blockchain space. Smart contract platforms with their own VM and programming language built from scratch (Solana, Cardano, Sui, etc.) are not so lucky. The only downside of BNB is the utter-centralization existent within its own blockchain network. Other than that, it's the perfect contender of ETH. Who knows if someday BNB goes all the way to $1k? Just my thoughts Grin

GreatArkansas

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The time has come why I am not really into BNB because of their exchange, BNB is only fueled by their exchange, not their own network chain (Binance Smart Chain) which even though they have already a lot of TVL on their DeFi platforms, it's still not making sense at all for me.
With Bitcoin dominance is keep pumping and altcoins are being hammered, BNB for me is still not good to buy because they have still current issue with SEC.

waONE

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Quote from: Godday on July 02, 2023, 01:00:38 AM

If you look at the lawsuits that have been filed by the SEC I think the price of BNB will undergo significant changes. For now I've been buying some BNB and doing day trading to get some small profit. But I will continue to monitor how BNB develops in the next few weeks.

I hope Binance can win the lawsuit from the SEC but I think the price of BNB will undergo major changes regardless of what the US courts decide.

It's really important to continue to monitor developments so you don't miss any information and hope for good news,
however it is not easy it seems to be able to win the lawsuit but surely the BNB team will try hard for it,
We'll see how far this case will go.

danherbias07

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It should be a good time.
Once this SEC case moves on a positive outcome then the market of BNB will also go upward. Remember when it happened to XRP too? Every time good news comes out the green light is also seen in their market.
I think the investors are now just monitoring this case but they are also ready to buy or sell every time something will happen. IMO, purchasing power should be now because there are also lesser sellers at a losing point.
This suggestion though will still depend on the buyer, if he/she is optimistic that Binance could overcome this problem then I don't this there should be doubts at buying now.

Godday

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If you look at the lawsuits that have been filed by the SEC I think the price of BNB will undergo significant changes. For now I've been buying some BNB and doing day trading to get some small profit. But I will continue to monitor how BNB develops in the next few weeks.

I hope Binance can win the lawsuit from the SEC but I think the price of BNB will undergo major changes regardless of what the US courts decide.

Ziskinberg

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Quote from: eaLiTy on June 30, 2023, 03:23:04 PM

Quote from: Abiky on June 29, 2023, 12:02:06 PM

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".

The problem here is that the SEC chairman Gary Gensler is targeting Binance because they rejected his proposal to become their advisor before he became the chairman and with the FTX fiasco they will be closely monitoring the activities by all the major exchanges and hence it is wise to wait till this situation is over before investing in any exchange tokens.

The decision is right but the problem arises not because of its refusal but this is due to the known FTX issue. It was the job of the SEC to regulate scam projects and illegal activities that these exchanges might be doing now and it should be stopped as this will create negativity in the crypto space. If Binance doesn't do anything wrong and they are transparent, they will end up with this issue too quickly but still, they need to cooperate with the SEC. But yes, money can influence you, and possibly in the coming days we just hear that they're okay.

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Quote from: Xal0lex on June 30, 2023, 12:57:45 PM

Quote from: Abiky on June 29, 2023, 12:02:06 PM

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.

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.

BNB just recovered from a major market setback from the crisis with the exchange and sec which forced the price to slide down a bit in the last weeks but at the moment, there is a lot of recovery under way, and sure BNB could possibly reach 1k shortly but when that will be is unknown I am sure if there is a major market surge for bitcoin it will result into that level for BNB.

I believe in the capability of BNB since it provides liquidity for the exchange which is the major community for the coin.

Huppercase

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Quote from: Abiky on June 29, 2023, 12:02:06 PM

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".

If Binance lose the case, the worst I think SEC will do is fine them, they will say Binance should pay and that's what SEC want and at the end, they will be happy that they found CZ at long last but I don't think there is much damage that will be done that will exceed what has been done, Binance has a strong community that are always ready to sheeply follow CZ to the grave, BNB will remain strong, don't even expect the price to go lower than where it slide to the other day because the support is firmed and tight.

Quote

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 has utility and use case from other different other protocols, I expect to grow as much like other layer 1 we have in the entire market and because Binance exchange remains number sort out people's choice, I expect it grow no matter the situation of the market, if Ether remain valuable in crypto space, BNB will also remain valuable as alternative to the chain.

AakZaki

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Quote from: kevinzxz on June 30, 2023, 08:53:47 AM

with the current state of the market (correction), then of course now is the right time to buy all altcoin that you are investing (including BNB), because you can buy BNB at a low price (discount) and when the market starts to increase (bullrun), then of course the price of BNB will definitely increase very high, therefore don't miss your chance to buy BNB at a low price and hold until the bullrun occurs, so that you can get a lot of profit from investing in BNB at this time.

But also pay attention to the risks, Bitcoin is still on standby and if the Bitcoin price starts to correct, of course BNB will also be corrected. It is better to buy gradually while seeing how the market is.
We still don't know where Bitcoin will go. Bitcoin is still quite sensitive to bad news or FUD. The market is also getting saturated. Waiting for the next correction will probably provide even cheaper prices.

bussybuddy

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Quote from: Kelvinid on June 30, 2023, 04:46:43 AM

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There are always risks and opportunities present in investing, I'm not sure how long the current market will last but it's clear that the controversy between the SEC and binance is one that gets a lot of attention as they are both big names, their disagreement can make us concerned about the state of the crypto market. But when it comes to the opportunity at the right time, I also see the opportunity and also see the risks, and researching to make responsible decisions with my assets, I would choose continue to observe rather than balance the things to pay attention to, look at the case of XRP as an example when it was pinched by the SEC.

Although we see the impact of this issue on the BNB price, as we look at its progress, it comes back slowly. We saw it declines at first and that is because the panic sellers are selling off their BNB while real investors hold tight believing that it will rise and solve the issue. Yes, we can put XRP vs SEC as an example and the issue still exist for many years and it was not yet prosecuted. But I don't think this would also happen to Binance, I know they are currently solving the issue and proving that they are legally running the business.

Nevertheless, choosing BNB is still a good idea compared to investing in meme coins. Despite the issue, BNB never lose its potentiality.

Because I think about fairness and what has happened, I also understand the power their position has built in this market over the years, but that doesn't mean bad things don't happen. with it, however if we look positively to the long-term future, I also completely agree things will cool down soon. Just as it's definitely the top thing and it's lame to look at it with memecoins, since the two are inherently two different extremes in this market, but still standing for the moment. I like to observe altcoins (including BNB) to focus a lot on bitcoin.

killerfrost

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Quote from: Abiky on June 29, 2023, 12:02:06 PM

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.

I think BNB's current position in the market is something that has been shown by what they've done in this market, the regulatory issues with the SEC only add to the excitement in the market. Investment always has risks and returns, so it's important to consider right from the beginning before deciding on things, the case of BNB is not too much of a problem for me when I think that current prices or emerging pressures are not a big deal. now only help them become stronger and grow bigger in the future. Try to put some speculation on the future story, if the price of BNB crosses the $1000 mark I think many people at the moment might be skeptical about it, but I believe it will happen, so if I did my research If you research and have an investment strategy with crypto, I think the price now will be reasonable to start a long-term DCA, the next cycle may appear in the next few years, the immediate difficulties will also pass.

Blitzboy

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Quote from: Abiky on June 30, 2023, 12:06:52 PM

Quote from: JeromeTash on June 29, 2023, 03:54:58 PM

The easiest time to buy is actually in the bear market as almost all colors of shitcoins can still pump in the bull market, but I prefer to avoid coins that have been involved in lawsuits with the SEC. Take an example of XRP. Yes, it did try to pump, but it underachieved in the last Bull run. The same thing is most like to happen to BNB if that case drags on for a long time.

It's not altcoin season yet, so we should expect prices to dip further down the road. That, alongside the SEC fiasco, should prevent BNB from reaching a new ATH in the short-term. Considering that Binance is the world's largest crypto exchange, it has the necessary tools to keep BNB afloat for a very long time. Adoption for the BSC platform is high, so I think predictions of BNB reaching $1k will become a reality in the future.

What I don't like is the level of centralization existent within BSC. It makes BNB inferior to ETH. Would you imagine BSC (BNB's blockchain network) getting easily shut down by the government at will? With decentralization, BSC would become truly unstoppable. I think now it's the time to buy more BNB before it's too late. Who knows if a "pump" will arrive faster than we've ever imagined?

Indeed, the impending altcoin season and the SEC debacle are key factors in shaping BNB's price in the short term. The prowess of Binance as a leading crypto exchange cannot be overstated, and certainly, it lends stability to BNB. However, my skepticism is aroused when I consider the optimism about BNB reaching $1k. We need to tread carefully on this road paved with gold.

The issue of centralization within BSC is a pivotal point. The control centralized systems grant governments over them is an anathema to the crypto ethos. If BSC does not evolve towards decentralization, its inferiority to ETH will remain glaring.

While the thought of buying BNB now is enticing, one must exercise caution. Market volatility is not a roller coaster ride for the faint-hearted. Therefore, while a "pump" could be on the horizon, it could very well be a "dump" that arrives faster.

DeathAngel

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Now is not a good time to buy BNB, I just do not trust this token to have staying power. There is too much regulatory pressure on Binance from governments & authorities. BNB is at risk of being bullied into the ground by people like Gensler. I would personally avoid investing in BNB.

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Quote from: Abiky on June 29, 2023, 12:02:06 PM

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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.

The best time to buy is when the price of it dipped because of SEC. I guess if we only bought at that time, and waited for a few weeks, we've made a few to a hundred bucks on it just by holding it for short term.

Binance had many problems in the past already, and all of them failed to put the company down, and so is SEC as well. I guess the effect of the recent problem within Binance and SEC on the market is already going down already, and it has little to no effect anymore. As for the question, with Binance being the most popular CEX currently, I think it's a good time to buy, and hold BNB for short to mid term IMO. Buying now, and wait for the bull market in 1-2 years will yield you profits for sure.

Ohhh wait. Gary Gensler hated Binance so much after what happened with FTX, so there's a chance that he will do what he did again in the future. Of course that will be an opportunity for us to buy more BNB.

evichi

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BNB, IMO is one of the coins with the potential to make four digits in the next bull run, having made up to $700 (1BNB ~ $700) (CMC) in May, 2021. However, the case with SEC have complicated matters because people out of fear, may begin to sell their BNB to avoid loss. So, those HODLing appreciable amount of BNB should keep an eye on the case to know which direction to case is tilting to and possibly sell if the need arises. However, considering the utility of BNB, I don't think BNB will experience a sudden collapse as long as the case is ongoing unless at a point if verdict is passed against Binance which may then trigger sudden sale. Though you can buy now at low price but I suggest you hold what you can afford to loose in case the unexpected happens. However, I have confidence that CZ and his team will win the case, just my opinion.

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Quote from: Boomber on June 30, 2023, 05:15:22 PM

Quote from: Nrcewker on June 30, 2023, 12:08:33 PM

Yes currently BNB is at great price to be bought into the wallets. It’s one of the great altcoin that we can add to the bag and it can create big impact in the price later on. The price suddenly dropped due to the lawsuit that is being filled on Binance US, once everything comes back to normal, the price will definitely again go up. So yes buying BNB at current market price will be a great decision according to me. Let’s hope for the best.

besides the lawsuit, the price of BNB has fallen because the crypto market is correcting, but I agree with you that now is the right time to invest in BNB and the price will definitely increase again, because BNB is the best altcoin at the moment besides Ethereum, so of course the price from BNB will definitely increase very high if the market has increased again, moreover BNB is the biggest exchange at the moment and has a very popular blockchain too, so don't let us miss this opportunity to be able to get big profits from investing in BNB at a cheap price.

I always think that investing in BNB only good if it's below $250, right now it's $240 which is quite good pricing honestly
considering that the ATH was far beyond it but honestly though the lawsuit is just something that shouldn't be underestimated, the lawsuit could literally change the tide of the markets.

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Quote from: Abiky on June 29, 2023, 12:02:06 PM

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.

DoublerHunter

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Quote from: eaLiTy on June 30, 2023, 03:23:04 PM

Quote from: Abiky on June 29, 2023, 12:02:06 PM

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".

The problem here is that the SEC chairman Gary Gensler is targeting Binance because they rejected his proposal to become their advisor before he became the chairman and with the FTX fiasco they will be closely monitoring the activities by all the major exchanges and hence it is wise to wait till this situation is over before investing in any exchange tokens.

^ I think you are right and you have a better perspective on the price.
When a cryptocurrency exchange or any company faces regulatory challenges, such as those involving the SEC, it can introduce uncertainties and risks to the investment landscape. These challenges may impact the future prospects and performance of the company and its associated tokens. Investing in such a situation can carry increased risks, as the outcome of the regulatory actions and their potential consequences may be uncertain. Because for me, it requires careful consideration and analysis of the specific circumstances surrounding the company and its regulatory issues. I would rather go on BTC than BNB, but if you are willing to risk, only the amount that you can afford.

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Quote from: Nrcewker on June 30, 2023, 12:08:33 PM

Yes currently BNB is at great price to be bought into the wallets. It’s one of the great altcoin that we can add to the bag and it can create big impact in the price later on. The price suddenly dropped due to the lawsuit that is being filled on Binance US, once everything comes back to normal, the price will definitely again go up. So yes buying BNB at current market price will be a great decision according to me. Let’s hope for the best.

besides the lawsuit, the price of BNB has fallen because the crypto market is correcting, but I agree with you that now is the right time to invest in BNB and the price will definitely increase again, because BNB is the best altcoin at the moment besides Ethereum, so of course the price from BNB will definitely increase very high if the market has increased again, moreover BNB is the biggest exchange at the moment and has a very popular blockchain too, so don't let us miss this opportunity to be able to get big profits from investing in BNB at a cheap price.

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Quote from: Abiky on June 29, 2023, 12:02:06 PM

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".

The problem here is that the SEC chairman Gary Gensler is targeting Binance because they rejected his proposal to become their advisor before he became the chairman and with the FTX fiasco they will be closely monitoring the activities by all the major exchanges and hence it is wise to wait till this situation is over before investing in any exchange tokens.

Topic: Is now a good time to buy BNB? - page 4. (Read 808 times)