Are you wondering about the potential upswing in the value of certain cryptocurrencies? Well, a notable crypto analyst has recently expressed his positive outlook for two widely recognized altcoins, namely Binance Coin ($BNB) and Bitcoin Cash ($BCH). The analyst, known on Twitter as Kaleo, predicts that these coins could see a significant price increase in the near future.
BNB’s Potential for Growth
Kaleo has been enlightening his nearly 600,000 Twitter followers about the promising potential of $BNB, the proprietary token of the Binance Smart Chain. Currently priced under $250, he believes the token is a good deal at this price. His analysis indicates a possible return of BNB to the $300 price range, and maybe even a climb towards its previous peak of just above $340, which occurred in April. All of this could transpire in the last quarter of 2023.
Despite the lack of significant chatter surrounding Binance Coin at the moment, Kaleo anticipates a shift in media focus once the coin starts its upward trajectory. BNB, also the native token of the leading cryptocurrency exchange Binance, is frequently used in various promotional offers on the platform.
The Binance Lawsuit
It’s worth noting that Binance was recently sued by the SEC, who accused the exchange of illegal securities trading, causing a ripple effect throughout the crypto world. Binance has refuted these allegations and expressed disappointment at the SEC’s decision to abandon the negotiation process in favor of litigation. The company has committed to robustly defending its platform, criticizing the SEC’s regulatory approach as lacking the necessary understanding of such a dynamic and complex technology.
The lawsuit triggered a significant BNB holder to re-emerge after two years, selling a portion of their holdings on the market and making substantial profits. This event signals a fascinating shift in the behavior of crypto whales.
The Rise of Bitcoin Cash
Kaleo also shared his views on Bitcoin Cash ($BCH), a cryptocurrency that saw its price surge recently after EDX Markets, supported by Fidelity, Charles Schwab, and Citadel, started trading with it listed. Kaleo admitted to investing in BCH, citing its promising comparison to the flagship cryptocurrency and the potential for “one last leg higher” in the near future.
Created in August 2017 as a result of a hard fork of the Bitcoin blockchain following a lengthy scaling debate, Bitcoin Cash is currently trading at 0.0087 BTC per token, according to CryptoCompare data.
As we look towards the future of these cryptocurrencies, it’s crucial to stay informed and updated. A reliable source for real-time crypto updates is cryptoview.io, which provides a comprehensive view of the cryptocurrency market. Explore cryptoview.io now
