Unlike ADA Cardano, the BNB (Binance Coin) price experienced its bottom around mid-June 2022. Indeed, since even if the asset fell again towards the end of the year, it is not back down to under $200. After that, the token of the main crypto exchange saw its value gradually increase. So, for those who bought the cryptocurrency at the bottom, how much would their investment be worth today? And at the price of ATH?
After bottoming out in June 2022, BNB has seen its price rise significantly. However, since the start of the year, Binance’s token has alternated between good and bad. Indeed, after a good evolution in January, it exceeded these highest annual prices – but by very little – in March and then in April. In mid-April, the token temporarily traded around $350, its yearly high.
Binance Coin (BNB) $10,000 bought at bottom; what are they worth today?
Despite ups and downs, the BNB price is still on the rise at the start of 2023. And even if its evolution is nothing extraordinary, it is interesting if we focus on the bottom of the price. . As a reminder, according to CoinMarketCap, the Binance Coin bottomed on June 18. The token temporarily traded at $186. At the time of writing, BNB is trading at $305.22, down on the day. We clearly notice an increase in its price.
Based on the current BNB price, a $10,000 investment at the bottom would therefore be worth $16,410 today. A positive development, since our investment would have taken 64.10% over almost a year. A positive investment if we take into account the loss of confidence experienced by centralized exchanges and especially the 😬 FUD which persisted around Binance. Thus, despite a difficult transition between bear market and bull run, the asset would have already paid off.
As mentioned, this would lead to an upside of 64.10% over the initial bid. If we consider that the BNB is currently down on the day and on the month, we realize that the investment could have yielded even more. Indeed, the BNB price wicks reached $350. At this price, the price increase from the bottom is nearly 90%.
What about the price of ATH?
Over the course of its existence, the Binance token has reached great heights. During the last bull run in particular, the BNB price exploded. According to CoinMarketCap, Binance Coin’s ATH is $690.93. Unlike Bitcoin or Ethereum, it dates from May 2021 and not November/December 2021. Thus, currently, the token is down 55% against its ATH. While many altcoins are down more than 70% against their ATH, BNB has thus limited the breakage. ₿ Even Bitcoin or 👎 Ethereum are down 60-65% against their ATH. A more than impressive performance!
Thus, the evolution between the bottom and the ATH is 271.47%. Impressive growth that would delight BNB holders if the price soon reaches or exceeds its ATH. This way, the initial investment of $10,000 would be worth $37,147. Moreover, given the gap to be filled between its current price and its highest price, the projection remains very realistic. 💸 Much more even than on Cardano. Of course, this would be an optimization of the investment with a purchase at the lowest price and a sale at the highest.
Compared to the large market caps, the BNB price is the one that has done the best during the bear market. Indeed, it is one of the cryptocurrencies that has fallen the least, and which has seen its value increase thereafter. Even though FUD dominated when the Binance/BNB/Binance Chain ecosystem was mentioned, it performed exceptionally well. Moreover, the resistance of the token has rarely been put forward.
Moral of the story: In discretion, the BNB seems to keep pace!
Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult a professional before making any financial decisions.
#bought #bottom #worth