Will Binance (BNB) Thrive in Bear Market?

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Another day, another red candle... that's what it feels like for many crypto investors lately. Everything is down and picking a winner may feel like more and more of a task as your portfolio swirls down the drain. It's clear we are in a bear market for now and only the most bull-headed can deny this. But you may have noticed that BNB, the little coin that could, trudging up the trendline even as Bitcoin (BTC) and the rest of the crypto market tries to drag it down.

Little Coin That...Is?

There are many factors for this, I've written on them before in previous articles so I won't be too exhaustive here. First off Binance's handling of security and hacking attempts have proven their seriousness on security. Secondly, major events for BNB have been announced such as quarterly coin burns and the upcoming Binance Chain, a blockchain of which BNB will sit at the core. Finally, Binance has recently announced a move to the crypto embracing Malta where they will open a new office location and implement fiat trading in the exchange.

Looking at all time frames, BNB has a clear uptrend and being a newer coin this could be just the beginning. For the past few days, BNB has been bouncing off of its recent 12 USD support and remaining "stable", after moving up from the ten dollar range reaching a high just around 14.50.  I believe this general uptrend will continue for a long time and will be a great hold for those looking for steady gains and somewhat lower volatility than other cryptocurrencies.

Investors looking for a pairing against Bitcoin (BTC) to increase their BTC holdings, may have found their golden goose as BNB's steady gains have caused it to move up massively against the classic crypto. This could see further continuation as BTC signals more losses ahead in the short/mid-term. Binance, as an exchange, has seen unprecedented growth quickly becoming the number one crypto-only exchange and soon looks to overtake crypto/fiat exchanges like Coinbase with superior features, enhanced security, decentralization and lower fees.

Personally, I rate BNB a strong buy for the long-term, in the short-term it could fall to the 11-10.50 USD range before cycling upward again, if this occurs it could be a gift for those looking to find a safe haven during cryptos blooding. Perhaps in this bear market, the safest bet one can make is on the house.

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I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive Content


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