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Crypto Analyst Predicts Massive 99% BNB Price Crash To $2
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Crypto Analyst Predicts Massive 99% BNB Price Crash To $2

Scott Matherson
Scott Matherson
1 year ago
3 mins read
BNB crash

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BNB, the native token of the Binance Exchange, has grown to become one of the largest cryptocurrencies in the world. Its current price of $260 puts its market cap above $39 billion, making it the fourth-largest asset in the market. However, despite the notoriety that the cryptocurrency has gained during this time, one crypto analyst still expects a massive price crash, one that could shake the entire crypto market to its very core.

BNB Long-Term Distribution Points To Crash

In the initial analysis that was posted to the TradingView website on Tuesday, December 19, crypto analyst Alan Santana pointed out that the BNB token had been in what “can be considered a long-term distribution phase.” He identifies this distribution phase on the chart shared which looks to have begun after the altcoin hit its $670 all-time high price in 2021.

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While this is pointed out to be bearish, the levels at which Santana believes this bearish pressure could take the price back to 2018 lows. In addition to this, the analyst explains that the BNB price is still trading below its 200-day Moving Average (MA). This, in itself, is very bearish for the asset’s price, but cannot send it 99% below its current price. However, he explains that this metric coupled with bad news about the exchange could be devastating.

BNB price chart from Tradingview.com

Source: Tradingview.com

It is no surprise that the Binance Exchange has endured its fair share of problems when it comes to dealing with regulators. The exchange’s stablecoin which was issued by Paxos halted minting following instructions from regulators. Later, CEO Changpeng Zhao stepped down after the exchange and the founder agreed to pay $4 billion in fines to the US Securities and Exchange Commission (SEC).

The crypto analyst stated that the chart points lower in such a case but pinpointing a particular endpoint is impossible. “It is impossible to say exactly if the final target will be $11, $6, $2 or $0.10, it is very hard to predict an exact target but, the chart is pointing lower,” Santana said.

BNB price chart from Tradingview.com

Token price starts to recover | Source: BNBUSD on Tradingview.com

Waiting For The Best Timing

Coupled with the indicators that the analyst has pointed out, he made follow-up posts to add other factors that could trigger a 99% crash in the BNB price. Pointing to the change in management that happened around a month ago, Santana explains that the next move by the exchange would be called “restructuring.”

He stated:

The company will undergo some “restructuring”, changes and improvements in the corporate network and thus everything most be frozen… Don’t worry though, the funds are SAFU.

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1 year ago

However, Santana explains that this will not just happen and that they would wait for the best time to actually carry out this move. According to the analyst, a drawdown from the current rally would be the best time for them.

“So they would let the market correction play out after the SECs announcement late December or early January 2024. Once the market is about to bottom or hits bottom, then the ‘restructuring’ can start,” Santana said. “This would freeze billions of customers funds and allow time for the institutions, the big players, the Spot ETFs to buy Bitcoin low.”

Despite the grim prediction that could crumble the crypto market if it happened, the crypto analyst believes that this is positive in the long term. “Life will continue to evolve, nature will pick who leaves and who stays, and time will decide who was right and who is wrong,” Santana concluded.

Featured image from Portal do Bitcoin, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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