BINANCE:BNBBTC   BNB / Bitcoin
Well as you can see there is a GIANT H&S pattern and we broke the neckline...

This means there is a high probability that we move the hight of the H&S pattern to the downside.

Well, this would basically reset BNB.

However, it took quite a while until we broke through the neckline, which weakens the pattern.

With this post, I don't want to create any panic I just want to discuss the topic:
"What happens with Binance, if BNB resets?"


Therefore, feel free to write your thoughts down below.

Do you think Binance isn't affected at all if BNB goes to 0 or do you think that this scenario could make Binance bleed?

Either way, I think if Binance resets this will be a great opportunity to get as much BNB as you can (if Binance isn't suffering from it).
BNB is one of the few coins which actually has utility. I just don't see how an exchange with billions of dollars in trading volume everyday can have a coin that's basically worthless. People buy BNB to trade on Binance which puts constant upward pressure on price. I don't see this pattern playing out tbh.
+1 Reply
@nginx, That's what bothers me as well. However, what if the current price is just overvalued, the prices drop everybody panics and therefore the prices drop very low before we go up and make higher highs.
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nginx aamonkey
@aamonkey, I have read a few analysis on BNB token's actual value. In stock market, we consider something like price to earning ratio where the stock's price is usually in high multiples of the company's current earning because the stock prices are always forward looking and tries to price in the future potential.

BNB's earning report says their profit crossed $1B every year since inception and BNB's marketcap is now worth less than $1B which makes the P/E ratio less than 1 which is unheard of in traditional investment space. In other words, BNB is ridiculously undervalued. Experts have mentioned this time and again but for some reason, Binance's worth is not truly reflected in the coin's value for some reason. Tech stocks even have P/E ratios as high as 50-70 in which case, BNB having a marketcap of $50B-70B wouldn't be absurd.
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