FUD is nothing new, but in recent weeks cryptocurrency trading has been increasingly tough. Bull markets rarely ever teach us anything as nearly everyone makes money in Bull markets. Every coin is seen as either a great project today or the future coin of tomorrow. Projections and promises of these projects tend to be high; and so tend to be their price. Even lackluster returns or news can send a coin skyrocketing.
Bear markets, in comparison, show us the real "meat on the bone." They help us see what projects people actually believe in versus what projects were speculative in nature; only being chased for the hopes of abnormal returns.
It goes without saying that it has been a tough year for Bitcoin. My actively traded investment has fallen nearly 20%. Bitcoin seems to loose against the USD on a daily basis, with bad news ruling the headlines.
But what if I told you that there was a better way, and that there is a coin that is OUT performing its 200 SMA? What if I challenged you to describe what exactly makes BTC so special that everyone wants to accumulate it? What if I told you that the best investment to accumulate BTC would be to change currencies? Finally, What if I challenged you to seriously consider changing your base currency to Binance Coin?
You would probably tell me that the devil is in the details.
Let me share them with you.
BNB is currently trading at nearly $15 and has gained steadily since it struck bottom in February. Instead of trending downward and scaring the entire crypto community half to death, BNB began a nice uptrend. Overlaid (in orange) is BNB versus BTC. It doesn't take a rocket scientist to see that there is no comparison. BNB is currently the only coin that is actually outperforming SMA 200 against BTC, USDT, AND ETH.
Furthermore, BNB is a fundamentally sound coin. The Binance exchange accepts this coin as payment for fees on the exchange. Traders get their fees half off (.05%) if they use the coin; which is currently the cheapest fee in the industry. Traders have been flocking to this site (myself included) because of its incredible liquidity and the ability to save loads of money on fees. Binance has quadrupled its customer base since January, and this kind of expansion is likely to continue.
Furthermore, Binance has limited the supply of this coin, which will increase scarcity and raise prices.
Lastly, Binance has become a trusted name in crypto; and this is likely to continue for as long as the managerial decisions are in line with the basic investor.
While no one will likely say that BNB is going to be the next world currency, it has shown that it is good store of value while the Bear market continues to drag on. Setting your AI and strategies to trade against BNB simply can't go wrong in the short term; as you can always re buy BTC or ETH at a later date for your long term HODL.
Many, including myself, have been searching for a way to short BTC in this market. BNB may present the best way to do it.
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My point is proven yet again with the hard Bitcoin drop, as BNB gained as it sank.
This has to be your coin during the Bear market, which may continue for some time.