Binance Coin (BNB) is a digital currency that powers the Binance exchange, which is currently the world’s largest crypto exchange.
However, in 2023, the exchange faced regulatory challenges that could potentially impact the value of BNB. To understand the potential impact, BeInCrypto reached out to experts to provide a forecast for Binance Coin in March 2023.
Binance Coin (BNB) is a digital currency that powers the Binance exchange, which is currently the world’s largest crypto exchange. However, in 2023, the exchange faced regulatory challenges that could potentially impact the value of BNB.
To understand the potential impact, BeInCrypto reached out to experts to provide a forecast for Binance Coin in March 2023.
According to Nikolai Zhuravlev, CEO of CFA.RF, most analysts are optimistic about Binance Coin’s prospects and expect it to reach $500-600 by March 2023.
This is due to the increasing popularity of cryptocurrency, the growing use of the Binance Smart Chain blockchain platform, and the rising interest in decentralized finance applications and services.
However, Zhuravlev’s forecast differs from his colleagues’ opinions. He believes that investors should not expect significant growth in the value of Binance Coin and predicts a more modest price range of $200-300 in March 2023.
The cryptocurrency market is highly volatile and unpredictable, and Binance Coin’s value may be negatively impacted by competition from decentralized financial services and other digital currencies such as Ethereum, Cardano, and Polkadot.
In summary, while some experts are optimistic about the future of Binance Coin, others predict a more cautious outlook due to regulatory challenges and competition from other cryptocurrencies.
Binance Coin (BNB) Chart. Source: TradingView
Artem Ibragimov, an asset manager at Cresco Finance, has provided his Binance Coin (BNB) forecast for March 2023. According to Ibragimov, BNB’s movement will depend on the market trend and no correlation has been observed so far.
He notes that a downward trend has been forming since February 5, 2023. Based on his calculations, there is a 40% probability that the cryptocurrency’s value will fall by 7-11% to the range of $282.8-269.82.
It’s worth noting that earlier, other experts had also given their predictions for Bitcoin and Ethereum, the second-largest cryptocurrency by capitalization, for March 2023.