Weekly Chart- I am basing this off BTC continuing to head down in the near future. This is what I'm expecting to see happen over the next couple weeks or so, an initial sell off of both but a gradual increase of BNB price vs a gradual decrease of BTC price. When the market comes back, I will have more value with my BNB compared to if I just held in BTC.
Selling 1 BTC for 832 BNB Binance coins = (0.0012017 sats back then) when it was around $10,000 back in January would have earned you around an extra .33 BTC = 2.3k if you were to sell that BNB around now Early Sep 2018
Instead of your 1 BTC being worth $7070, you would have around 9.3k worth of bnb
When BTC gets back to $10,000 you would have about $13300 worth. Please let me know if my math is off or this theory has holes in it.
Yes this is annoying because we can't go back and do this over but if this continues, it maybe better to go into Binance coin instead of tether or other stable coins. I'd love some feedback on this, thoughts, pros, cons etc.
I do not claim to have all the answers and there are definitely risks with attempting a strategy like this so please get 2nd-3rd-4th opinions before trying this. Please do not make any financial decisions based on this theory. I'll be creating a video on this chart and theory shortly after finishing this chart here - https://www.youtube.com/c/TeamJoeyRocketCryptos?sub_confirmation=1
I'm with you! BNB did hold the support araound 14000 even in the reddest sea the last months so i do not expect it to collapse anytime soon. There's a H&S pattern forming but i honestly don't give it much credit yet. In the long term it is shurely supposed to crawl up. So we could give it a try and store some BTC in BNB now.
JoeyRocket
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@Klataro, yea well said. Honestly I was hoping it would perform much better as it did in the past. I went into bnb at 0.00151570. I was up to about 4% at one point but now I'm only at 0.76%. Green is green though. Also I know I should be patient because this is a longer term play than the average 1-5 day type of trade
Klataro
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@JoeyRocket, i got my first BNB when it was at about 0.0011 (approx. 15 $ by the time as far as i can remember) but in only used it to save trading fees. And for this reason it was only 2 coins. But i did oberserve it from time to time and it appeared to be convincing. As soon as i have some FIAT left and find a good entry point i will go deeper into BNB, without any fear to loose too much regardless what the market does. It just has an awesome usecase.
JoeyRocket
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@Klataro, Yea the utility is strong. I exited my position. It wasn't looking like it has in the past as far as doing the opposite that BTC does but I'll re-enter if I see it doing well. I'm mad I didn't see this at the beginning of the bear market. it would have been nice. Glad I know about it's potential now though and will also prob take a long term position as well at some point
JoeyRocket
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@Klataro, I hope you held! This was one of the biggest mistakes of my life !! :)
Ok well I finally got the smarts up enough to google this since I've come to the conclusion that I can't be the only person to have noticed this. I can be slow sometimes... So yea, this has been discussed in the past but to me it seems under rated and not talked about as much as it should. IMO it's a pretty big deal and need to know information in such a crappy market.
reddit.com/r/binance/comments/8kj0fg/why_does_bnb_always_pump_when_btc_is_dropping/