BNB - how realistic is the $50 prediction after the upcoming burn?
This is exciting :) How about some BNB burn updates and detailed analysis on price prediction? Internet is buzzzzing around $50 after the upcoming burn. How realistic is that number for me?
It is written down below, let me hear your thoughts.
To be a bit more specific and not eat up your time, I wanted to discuss about BNB, the coin of the crypto exchange Binance which is no doubt my personal favorite as stated before due to less coins available & monitoring preferences.
To begin with, BNB trades at the moment at $9.93 with a 3.54% decline at the time of writing, $983.5M market cap , $36.4M in volume and a 99M BNB circulated out of a 197.1M total supply of BNB. Some more facts about BNB is that percentage wise, the pie is split with 50% of the coin being available for trade within exchanges, 40% remains in the team and rest of 10% goes to angel investors (which need to be reminded especially for potential ICOs here and elsewhere that regulations wise they still need to comply with the Securities Exchange Commission's (SEC) standards for accredited investors.) Going back to BNB ' s case, what these numbers say is correlated with the information that portion of BNB during this March of 2018 (or April if we want to be more precise since they burned in Jan last) will be burned and moreover that volume wise, even tho BNB was traded in red for over a month, we still managed to see 46M usd market cap within a 24h volume p, exploding BNB to a total of 930M (at that time) resulted market cap overall by the end of the trading day.
As Binance had stated back then , "With your support, Binance has grown quickly since launching on July 14th, 2017. In accordance with our whitepaper, each quarter, we will use 20% of our profits to buy back and burn BNB, until 100MM BNB are burned by 18th Oct 2017"
Result? BNB hit x6.5+ its pre-burn era in usd value, followed by a second burn in January 18' climbing to $24. To sum up for the sake of clarity, we saw 1.5-->10-->24, with touch points few weeks after each burn and the late decline in my personal opinion at least following exactly the market's general dip.
To do some boring data slicing , we can predict prices and sound like psychics without validity and I respect that. For that reason I will tell you briefly what my thought was the previous times with bnb and apply it to the new prediction for the upcoming burn’s possible outcome. Simple math, let’s find the pattern. 1.5 to 10, rounded numbers here. 1) we find the Δ difference —> 10-1.5 = 8.5 and 24 - 10 = 14
The two results have no simply shown correlation, and since furthermore we see an aggressive enough incline, let’s bore ourselves with some data slicing and simple sequence patterns. we chase logic here, not direct behavioral predictions even tho the two will be correlated if our prediction is correct.
Best imo is to round numbers for the sequence , we can do both 1 or 2 for the 1.5 to see what is closer for our future ref.
Therefore: 2 ,10, 24
10-2=8 and 24-10=14
You see the pattern ? Math is beautiful !
14-8=6 and to find the next digit in sequence you simply have to find a correlated number to 6 and 14. Since we found the first 6 as a subtraction is 14-8, our final digit in this assumption would be x-14=6 => x=14+6=20 . We aren’t done yet , 20 is the next digit after in the subtraction list so we have our sub sequence being now 8,14,20
--> And our final number will be 24+20=44
In case we do the above with 1 instead of 2, we have similar result of 43.
Therefore, the internet fuzz around BNB hitting $50 after the upcoming burn isn’t too far from the current pattern even though I do find it a bit exaggerating.
Only time will tell! What are your thoughts?
Lots of trading luck to all of you. 🤓😘
B.
PS. by definition Q2 should be april to june and not back in 15th of january. Due to that , people judged that upcoming burn will take place March. I followed March due to that, realistically if they burned January, next burn should be April. Thank you for reading !