Prices and forecasts on crypto Bitcoin (BTC), Ethereum (ETH), and BNB

For some time now, three cryptocurrencies have dominated the market: Bitcoin, Ethereum and BNB, and today we will analyze their price predictions.

Bitcoin was the first cryptocurrency ever created and alone accounts for more than half of the entire cryptocurrency market.

The second is Ethereum, which is the leading altcoin that all other altcoins tend to follow.

The third is BNB, the cryptocurrency of the world’s major cryptocurrency exchange (Binance).

BTC Performance: Which cryptocurrency is performing better: Bitcoin, Ethereum or BNB?

Bitcoin price trends have undergone a major change in the past few days.

From February 28 to July 3, 2024, for more than four consecutive months, Bitcoin remained essentially flat within a wide range of $57,000 to $72,000, with only minor short-term fluctuations up or down.

Instead, it began to decline on July 2nd and fell below the lower end of its range on July 4th.

In fact, on July 7 it had already surpassed $57,000, but on July 4 the medium-term trend seemed to change.

It is not yet clear whether the new trend is downwards or if the lower end of the flat range has simply fallen.

Latest Bitcoin (BTC) Price Predictions

Although analysts disagree on the predictions, the events that took place between yesterday and today appear to have brought a definitive end to the decline that began on July 2nd.

From $63,000 at the time to $53,500 on July 5th, it was a 15% drop that has already been partially absorbed. The situation now seems to be completely back to normal, and the drop appears to have been fully resolved.

That being said, there’s no guarantee that something else won’t be triggered.

Several analysts expect further similar declines in the coming weeks, with some predicting a bottom below $52,000, $51,000 or even $50,000. There are plenty of more pessimistic predictions floating around, but they are usually not coming from professional analysts.

However, it is noteworthy that many analysts only assume the beginning of a new horizontal phase within the lower range, with a bottom between $51,000 and $53,000, while the top is not yet clear (possibly even above $60,000).

However, many expect the trend to change in the fall, perhaps already anticipated in early September or late August. Optimism seems to prevail among those who expect this trend change.

Ethereum Performance: The Crypto Between Bitcoin and BNB

Since the end of May, Ethereum’s price movements have been very closely aligned with Bitcoin’s price movements.

But this seems unusual given that the spot Ethereum ETF is expected to be listed on a U.S. stock exchange for the first time sometime this week, or at the latest next week.

The rise in ETH price at the end of May was due precisely to the news of these ETF approvals, but has since followed the rise in BTC price.

If we compare the price of Ethereum to the price of Bitcoin, we can see that ETH rose from 0.046 BTC to 0.057 BTC in May but has since stabilized.

In fact, it fell below 0.052 BTC in mid-June and is currently around 0.053 BTC.

For now, despite the imminent arrival of an ETF, the price of Ethereum does not appear to have the ability to move independently compared to the price of Bitcoin, at least in the short term.

Ethereum (ETH) Price Prediction

Many believe that Ethereum price may fall after the Spot ETH ETF actually gets listed on the stock exchange.

Looking at the charts over the past few weeks, it certainly doesn’t seem like the market believes these new financial derivatives will be able to achieve much, at least not in the near future.

Additionally, once the Grayscale Ethereum Trust is converted into an ETF, there is always the risk that it will start liquidating large amounts of ETH, as happened with BTC in January.

However, even if many are not optimistic about the price of Ethereum in the short to medium term, expectations change in the medium to long term.

In fact, the presence of an ETH spot ETF on US exchanges could provide substantial benefits to Ethereum prices if Bitcoin wakes up in the fall.

Consider that following the launch of the Spot Bitcoin ETF, the price of BTC initially dipped below $40,000 before rising from around $45,000 to over $70,000.

BNB Trends

The price movement of BNB follows that of Bitcoin and Ethereum, Binance.

The truth is, Binance has been the world’s largest cryptocurrency exchange for many years, and its dominance seems unshakable, but it has had some issues with authorities over the last year, especially in the United States.

Looking at Ethereum as a reference, the price of BNB rose above 0.26 ETH at the end of 2022 before falling below 0.1 ETH last year.

However, it started to recover in March this year, first rising to 0.17 ETH, then exceeding 0.20 ETH, and is now back at 0.17 ETH.

If we use the US Dollar as a reference instead, it hit an all-time high a month ago at about $717. It is also worth noting that Bitcoin also hit an all-time high in March this year, while Ethereum did not.

Therefore, BNB will perform better than ETH throughout 2024, currently at +64% since the beginning of the year. However, it must be remembered that in 2023, both ETH and BTC already recorded very interesting gains, while BNB did not perform well.

Predictions for BNB and the Binance Ecosystem

Predicting the price of BNB is more difficult as it is highly dependent on fluctuations on Binance.

Today, one could say that if a new bull market were to occur, Binance would do well and therefore BNB would do well, but last year it would have been very difficult to predict that Binance would eventually solve all its problems and the price of BNB would rise again.

In this case, in fact, in addition to the simple movements of the market and the laws of supply and demand, the economic performance of Binance also matters, which is not easily predictable.

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