It’s been a wild ride for BNB/BTC holders over the past 5 years. The uptrend was strong, but it appears to be over now. I anticipate that we will see BNB/BTC drop at least another 40-50% from its current price, and I’m personally avoiding this coin right now until things stabilize.
The news of Mazars Group suspending ties with Binance has certainly caused the price to plummet. Investors have lost their trust in the coin and are afraid of what might happen if this trend continues. Despite this, Binance is one of the world’s most popular crypto exchanges, and many people still believe in its success and long-term prospects.
Therefore, I believe that if Binance successfully navigates this current crisis and finds a new auditing partner, the coin could potentially see some upside soon. Until then, however, it’s best to remain cautious and avoid investing in BNB/BTC until more clarity is available about the situation.
It’s hard to predict what this could mean for BNB/USD prices, but it’s something to keep in mind as we move forward. Even if BNB/BTC drops further from here, that doesn’t necessarily mean that BNB/USD will follow suit. Ultimately, it’s up to the market and we will have to wait and see.
In the meantime, it’s important to remain vigilant and ensure you are doing your due diligence to protect yourself from further downside. If you’re holding BNB/BTC, now might be a good time to consider taking some profits or at least reducing your exposure until things become more apparent.
At the time of writing, BNB/BTC has dropped by 15% over the past week and looks to be trending downwards. It’s uncertain how far it will go, but if you’re invested in this coin, now might be a good time to re-assess your position and adjust your strategy accordingly.
Meanwhile, if you’re looking to buy BNB, it might be wise to wait for the dust to settle. The crypto markets are highly volatile, and there is still significant downside potential with BNB/BTC. As such, it would be wise to stay away from this coin until we have a better idea of where it’s headed next.
Ultimately, it’s up to you to decide what’s best for your portfolio. But whatever you do, make sure that you’re taking the necessary precautions and doing your due diligence before making any decisions.
Disclaimer: The views and opinions, as well as all the information shared in this article, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, CryptoTale and its affiliates will not be held liable for any direct or indirect damage or loss.
