Binance BNB Prediction: Unanticipated Downturn Despite Detractors’ Assertions
The ‘Whale Wire’ critic anticipates a 95% plunge in Binance’s BNB to below $5 due to potential legal issues and increased regulatory oversight, potentially leading to Binance’s insolvency and affecting its overall business scheme. Despite these Binance BNB predictions, Binance continues to lead the global cryptocurrency exchange market, with BNB maintaining its position among the top five cryptocurrencies. New CEO Richard Teng confirms that client funds are secure and compliance reforms are underway. The leniency period provided by the Department of Justice may make the collapse of Binance and BNB less likely. However, a reduction in trading volume and user loss could potentially put downwards pressure on BNB. Even as Binance withdraws from certain markets, $200 remains a significant support level for BNB. It is currently on an upward trend in the short term, up 15% from October 2023 lows but still down 65% from its 2021 high.
