Ethereum is a shitcoin and BNB is a shitcoin. Let’s not talk which one is shittier than the other as this is not the goal here.
I think if a coin is to become so overvalued as Ethereum ( or other similar for that matter) once was this could be BNB . A centralized Shitcoin but who cares. It is the market’s opinion of a coin that matters and not the fundamentals, at least for a while and especially in Cryptocurrencies world.
In preparation of the next bubble I am trying to guess what alt coins could potentially perform as the ones that over performed during the 2017 peak. This is a pretty hard task given that almost all coins are shitty with no real use. I think that the market will continue to overvalue altcoins as long as Bitcoin is volatile.
I think BNB will become one of the most overvalued coins. It is one of the few ( only ?) shitcoins that have actually a use as it is used as a medium of exchange in Binance. One other factor will be the “Decentralized” Exchange that Binance will be pushing in the near future which I expect that could give BNB two more magnitudes ( x 100 ) of price boost by 2024.
Below is the historical chart of BNB. Check how consistent the market cycles are. I like that the cycles are repeating consistently and gives me confident that this will also be the case in the future.
I think we are currently on the fourth cycle and I am expecting at least two more during the next two years something which could boost the price tremendously.
Binance as a company has often dialogue with the Cryptocurrency community and openly supports Bitcoin which is another reason that I also support them.
For this reason for the next two years I will be buying 1 BNB per month and if I see that the market continues as it has in the past I will be continue to average in until the next big bubble which I expect in 2024.
My prediction is that at the next Bull market if it happens in 2020 , BNB price will end up being around $200 per piece and during the 2024 Bull market around $2000.
I already started and have 36 BNB which at the time of writing is around 0.13 BTC.
I am expecting to have 50 BNB around 2020 and 100 around 2024. Let’s see how this plays out. I have a reminder to review this article at the end of 2019.