Unlike the rest of the market, prominent cryptocurrency exchange Binance’s BNB was seen dropping. Despite all the legal troubles that the exchange went through during the past couple of years, its native asset managed to record an uptrend. The altcoin was trading at a low of $346.07 just a year ago but throughout the last year, BNB managed to rise to a high of $793.35. Will the asset continue this momentum and record a new peak this month?
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Looking Back on BNB’s Price Growth
During the past 12 months, the altcoin managed to increase by over 100%. Throughout the last seven days alone, BNB rose by 15%. But at the time of writing, the cryptocurrency was falling back. BNB was trading at $668 with a 5.53% drop in the past 24 hours.
Despite its latest drop, the community remains optimistic about the altcoin’s potential rise. Data from CoinMarketCap’s Community Sentiment revealed that a majority of 48.1K individuals were bullish about BNB. A total of 81% of respondents were sure about the asset recording a new peak. Only 19% remained bearish about this feat.
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Price Prediction
It looks like the 81% crowd was right and could be ready to pocket notable gains. According to data from CoinCodex, BNB is all set to break its previous records and witness a massive uptick. The firm revealed that on February 20, the altcoin will surge by over 100%. The asset will reportedly trade at an all-time high of $1,356 on that particular day. While this seems unrealistic at the moment, the firm noted that during the course of the coming week, BNB will continue to surge and record new peaks on a daily basis leading up to February 20.
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