Even though most of the cryptocurrency markets are still showing plenty of bearish signs, it seems to be a matter of time until things improve once again. Until that happens, this extensive bearish trend will need to be endured, unfortunately. When even the Binance Coin price is going down in value, one has to acknowledge this is not the best of times for this industry.
Binance Coin Price Trend isn’t Surprising
When looking at the big picture in terms of overall crypto market momentum, it is only normal to see all currencies, tokens, and assets in the red. That is except the coins which are going through what appears to be a pump cycle. Binance Coin is, for once not rising in value when Bitcoin’s value is in the red. That seems to confirm this token’s trend may have run its course, for a little while.
Over the past 24 hours, the Binance Coin price momentum has soured significantly. While some people may claim this coin will gain another 100% fairly soon, the current balance looks a bit different. A 2.76% loss in USD follow and 1.2% losses over both Bitcoin and Ethereum do not paint a happy picture. While the current value still sits above $16.5, it remains to be seen how much longer that will be the case.
Even Weiss Ratings is seemingly growing tired of the BNB price surges which seemingly make little to no sense. They confirmed the Launchpad changes have been beneficial to this price trend, although it also fuels the speculation as to how this price run is artificial first and foremost. It is always interesting to see these different opinions on such changes.
— Weiss Ratings (@WeissRatings) March 25, 2019
A similar sentiment is echoed by CryptoAndChill. This user sees the current BNB model as a way to create more accredited investors, instead of opening up token sales to the masses like originally intended. It is not a business model most people will agree with, and one that can harm the BNB price in the distant future. Comments like these should not be overlooked by any means, as they show people are getting tired of how things are being run.
The new #BNB model sounds a lot like being an accredited investor… You have to have a certain amount of this in order to participate in that.. that's why there's so much heat on CZ. It gets rid of the "little" investor.
— CryptoAndChill🏴☠️ (@Crypt0AndChill) March 25, 2019
Adam, on the other hand, is concerned over the number of use cases for Binance Coin now and in the future. It is mainly focused on the Binance exchange, although Travala accepts it as well. Even so, without additional utility, and the potential outcome of cutting out smaller investors, the current price seems unsustainable for the long run. A lot of the positive momentum is turning against this market in recent days, which isn’t entirely unexpected.
I also don't see #BNB going up to much higher since it's a token that is limited in use & can only be really used on the binance exchange. #APL can be used everywhere. Which gives it a much better chance at a higher price value in the long term with so many real world use cases.
— Adam (@smileyface218) March 25, 2019
While the current momentum seems to indicate the Binance Coin value will recover fairly soon, the overall sentiment among community members shows something else entirely. It is certainly possible this market will see another uptrend materialize at some point, but the growing dismay among holders and onlookers does not bode well. Addressing those concerns may prove crucial for the future of BNB.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.