Binance Coin (BNB) was seen making news after Bhutan announced that it would be adding the altcoin to its strategic reserve. BNB joined Bitcoin (BTC) and Ethereum (ETH) as the country moves towards boosting adoption. Despite this, the price of the asset remained below $700. This came as a major blow to the BNB community. However, several were seen betting on BNB to rise after Donald Trump will be sworn in as the President of the United States.
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Binance Coin Stays Below $700
The native cryptocurrency of the prominent exchange Binance has managed to record a 129% spike in price over the past year. While it lingered around the $800 mark, it failed to move beyond. At press time, the asset was trading at $698 after dropping by nearly 2% throughout the past week.
While Binance Coin is clearly struggling in terms of price, this might be temporary. Several in the market believe that cryptocurrencies will collectively witness a spike in price after Trump takes office. This is because of Trump’s pro-crypto nature that the cryptocurrency community is particularly excited. About two weeks after the US Congress recognized Trump’s Electoral College win, the ceremonial ceremony is scheduled for Monday, January 20.
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January-February Price Prediction
According to data from CoinCodex, Binance Coin is all set to register new peaks over the next two months. The maximum price that BNB is set to trade at in the month of January is $824. This marks a 17% rise from its current price level. In addition, the altcoin will continue this trend in the next month as well. In the month of February, Binance Coin will be priced at a high of $891. Both these price levels will represent new peaks for the cryptocurrency. It seems like Trump’s inauguration will fuel BNB’s potential rally.
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