Long on BNB: Predictions from a Firm Believer
I was only 20 years old when I witnessed the crypto boom in 2017. It got me interested in both crypto and trading and I was drawn in by the hype around the massive gains being made in this sector. It took a while for me to mature and learn about myself as a trader. There were moments where I checked my crypto-assets right as I got up and panicked into a frenzy, trying to make gains and recover losses.
During those months, I obsessed over the new technology and the implications surrounding its grander entrance into the fintech space. Bitcoin's notorious consensus protocol set a precedent to what money could be, inspiring many others to create something like it, varying in complexity with every proof of concept. Though it is funny to see that many still believe that Bitcoin is a "stock", one should admire what this asset has brought upon the world. Some ideas for alternative coins, or "alt-coins", were more or less not very well thought out.
But others, like Binance, saw what was needed in the space at the moment and made plans for the future. When I studied CZ's actions as the CEO of Binance after its entrance into the crypto space, I knew he was someone with a vision. He understood that many crypto exchanges were built upon fragile code that could be exploited by clever hackers. He also knew that those who were invested in the space needed an exchange they could trust. He has stated that he would refund any assets stolen by malicious hackers, and he carried out his promise!
He knew that the crypto space was going to be complex and have many growing pains, where some people continued to "invest" in Dogecoin, notwithstanding the creator's stance on the project. That's why he created both Binance Labs and Binance Info. He needed a research arm to study the different types of alt-coins so that he could determine which ones were winners and losers. The Labs is an incubation arm so that they can use the knowledge gained, which will inevitably have some growing pains of its own.
Year after year, I continue to look back and catch up with the news surrounding Binance and how it is directed. I can only say with confidence now that I will definitely invest (more) in BNB for the long-term and that I will be victorious in the end.
So now about the chart itself. I don't know when exactly this or that will happen, but I make educated guesses. That's all anyone can ever do, and if they tell you otherwise, you should run.
When you look at the chart, notice how the overall market is at a downtrend as well. This is notable since you will be using this factor to gauge when the next bull-run will be. This can be found by referring to Bitcoin's overall trend. Once BTC is up, that is when we must be on our toes and carry an open and introspective awareness so as to exit.
I will enter when the stock touches the green line. In no way does this mean that that will be the lowest point it will touch, but it is the only sensible piece of information we have that we can use to determine when we should enter. Noting that the overall market trend is bearish, we can assume that this will add confidence to our supposition: that we won't get teased as the pricepoint is barely 2 or 3 dollars away from our point of entry (look into the laddering-in strategy if you want to alleviate this concern but be aware of some mental drawbacks). After we enter, we will hold until the next bullish wave, which will be indicated by BTC's movements, as stated earlier.
As for when to exit, we should be both aware of the entire market's hype and BNB's price point. We should talk with others often and notice their sentiment surrounding the crypto space as a whole. This factor should only be a part of your decision regarding when to exit. The price point is something that I noticed from BTC's fall in 2017, as it got close to 20k, but failed to reach. This mentality is in no way prevalent in every trading decision, but nevertheless should be noted.
Though I am against giving out any "exact" price regarding when to exit, I am quite confident that this will at least get close to $1000, if not surpass it. I'm deriving this estimation from Ethereum's price point from 2017 and the sentiment surrounding it at the time. Many felt that this was "the second Bitcoin" and invested in it for that reason.
Though I am not saying that people will call this the third Bitcoin, I'm confident that the past history of this coin will generate enough confidence for a similar sentiment, as after the market went into a downtrend due to BTC's fall, it recovered because of firm believers and crypto bros and rallied a second bullish wave, before finally being forced back down with the greater market trend/sentiment.
Though I am only a modest English major with a minor in computer science, I understand the complexities at work, regarding both the crypto space and how price point is driven by sentiment.
I am calling my bet for the clout and so that my family can back off my decisions when I'm rich.
By 2030, I will be rich. Ungodly rich.
During those months, I obsessed over the new technology and the implications surrounding its grander entrance into the fintech space. Bitcoin's notorious consensus protocol set a precedent to what money could be, inspiring many others to create something like it, varying in complexity with every proof of concept. Though it is funny to see that many still believe that Bitcoin is a "stock", one should admire what this asset has brought upon the world. Some ideas for alternative coins, or "alt-coins", were more or less not very well thought out.
But others, like Binance, saw what was needed in the space at the moment and made plans for the future. When I studied CZ's actions as the CEO of Binance after its entrance into the crypto space, I knew he was someone with a vision. He understood that many crypto exchanges were built upon fragile code that could be exploited by clever hackers. He also knew that those who were invested in the space needed an exchange they could trust. He has stated that he would refund any assets stolen by malicious hackers, and he carried out his promise!
He knew that the crypto space was going to be complex and have many growing pains, where some people continued to "invest" in Dogecoin, notwithstanding the creator's stance on the project. That's why he created both Binance Labs and Binance Info. He needed a research arm to study the different types of alt-coins so that he could determine which ones were winners and losers. The Labs is an incubation arm so that they can use the knowledge gained, which will inevitably have some growing pains of its own.
Year after year, I continue to look back and catch up with the news surrounding Binance and how it is directed. I can only say with confidence now that I will definitely invest (more) in BNB for the long-term and that I will be victorious in the end.
So now about the chart itself. I don't know when exactly this or that will happen, but I make educated guesses. That's all anyone can ever do, and if they tell you otherwise, you should run.
When you look at the chart, notice how the overall market is at a downtrend as well. This is notable since you will be using this factor to gauge when the next bull-run will be. This can be found by referring to Bitcoin's overall trend. Once BTC is up, that is when we must be on our toes and carry an open and introspective awareness so as to exit.
I will enter when the stock touches the green line. In no way does this mean that that will be the lowest point it will touch, but it is the only sensible piece of information we have that we can use to determine when we should enter. Noting that the overall market trend is bearish, we can assume that this will add confidence to our supposition: that we won't get teased as the pricepoint is barely 2 or 3 dollars away from our point of entry (look into the laddering-in strategy if you want to alleviate this concern but be aware of some mental drawbacks). After we enter, we will hold until the next bullish wave, which will be indicated by BTC's movements, as stated earlier.
As for when to exit, we should be both aware of the entire market's hype and BNB's price point. We should talk with others often and notice their sentiment surrounding the crypto space as a whole. This factor should only be a part of your decision regarding when to exit. The price point is something that I noticed from BTC's fall in 2017, as it got close to 20k, but failed to reach. This mentality is in no way prevalent in every trading decision, but nevertheless should be noted.
Though I am against giving out any "exact" price regarding when to exit, I am quite confident that this will at least get close to $1000, if not surpass it. I'm deriving this estimation from Ethereum's price point from 2017 and the sentiment surrounding it at the time. Many felt that this was "the second Bitcoin" and invested in it for that reason.
Though I am not saying that people will call this the third Bitcoin, I'm confident that the past history of this coin will generate enough confidence for a similar sentiment, as after the market went into a downtrend due to BTC's fall, it recovered because of firm believers and crypto bros and rallied a second bullish wave, before finally being forced back down with the greater market trend/sentiment.
Though I am only a modest English major with a minor in computer science, I understand the complexities at work, regarding both the crypto space and how price point is driven by sentiment.
I am calling my bet for the clout and so that my family can back off my decisions when I'm rich.
By 2030, I will be rich. Ungodly rich.
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