Binance Coin took a massive hit when Binance announced that it will be leaving the United States market last week. However, it quickly bounced back up again, once it became clear that the exchange had a trump card up its sleeve.
The BNB is very responsive to the development of Binance. If the company is performing well, then the coin will follow suit as well. However, the lack of involvement from CZ in a large market like the United States could tamper that correlation between the coin and the company.
Just a small news piece managed to shred $3 away from the coin’s price but gave it room to surge to new heights such as $35 where it’s sitting now.
The long term trend for BNB is currently in the bullish zone as the company keeps on growing and adding new customers by the day. Their plan to integrate the United States customer base on a completely different platform is not going to tamper with the company’s growth in any way.
In fact, it’s quite beneficial considering the crypto to fiat business model.
The BNB has the opportunity to continue growing until it reaches $40 as there is nothing but bullish outlook. The coin is already sitting on its all-time high, but a major drop similar to the 2018 crypto winter is nowhere to be seen, especially when the stock markets are down.