The world’s largest cryptocurrency, Bitcoin (BTC), made headlines for finally breaching the $70,000 mark. The asset struggled for weeks and even got the community believing that this October wasn’t very bullish. But now, it seems like the king coin could reclaim this high this week. Amidst this, several were speculating that altcoins like Binance Coin (BNB) could hit their peak sooner than BTC.
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How Far Is Binance Coin From Achieving its Peak?
Binance Coin showed remarkable performance this year despite the hurdles that its parent company, Binance, faced. The asset stuns the market by hitting an all-time high of $720.67 about five months ago in June. At press time, the asset was trading at $604.21 following a 3% rise over the past 24 hours.
Considering the current price level, BNB is 16% below its peak. Bitcoin, on the other hand, was trading at a high of $71,112.83. The king coin is only 3.62% below its all-time high of $73,750.07. As a result, it seems like BTC will most likely reclaim its peak or even hit a new high sooner than BNB.
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How High Will BNB Surge This Week?
Binance Coin is all set to close in October and begin November on a bullish note. According to data from CoinCodex, BNB will end the month at $615.76, marking a 1.94% rise from its current price level. But later this week, Binance Coin will surge to a high of $641.07, which further translates to a 6% jump.
The above image shows that BNB will move nowhere close to its all-time high of $720.67 this week. However, new highs could be easily attained if Binance Coin continues to push ahead with its current momentum. This applies to the rest of the cryptocurrency market as well.
Also Read: Bitcoin Reclaims $71,000: Will BTC Hit A New Peak This Week?