For some time now, there have been three cryptos dominating the markets, Bitcoin, Ethereum, and BNB: today we will analyze some predictions of their prices.
Bitcoin is the first ever to be created and the one that alone capitalizes more than half of the entire crypto market.
The second is Ethereum, which is the main altcoin that is often followed by all the others.
The third is BNB, the cryptocurrency of the main crypto exchange in the world (Binance).
Performance of BTC: which crypto is performing better among Bitcoin, Ethereum, and BNB?
The trend of the price of Bitcoin underwent a significant change a few days ago.
From February 28 to July 3, 2024, for more than four consecutive months, it had effectively moved sideways within a wide range between $57,000 and $72,000, with small and brief excursions a bit above and a bit below.
Instead, starting from July 2, it began a descent that on July 4 led it to break down the bottom of that range.
To tell the truth, already on July 7th it had returned above $57,000, but on July 4th the medium-term trend seems to have changed.
It is not yet clear if the new trend is descending, or if it is just a lowering of the bottom of the lateralization range.
The latest predictions on the price of Bitcoin (BTC)
The analysts do not agree with the forecasts, but what happened between yesterday and today seems to have definitively ended the decline that began on July 2.
From $63,000 back then to $53,500 on July 5th, the drop was 15%, but it has already been partially absorbed. The current situation seems to have returned to perfect normality, so that drop seems to have completely run its course.
Having said that, there are no certainties that another one cannot be triggered.
There are several analysts who expect further similar declines in the coming weeks, so much so that some are hypothesizing a bottom at $52,000, $51,000, or even below $50,000. There are also many other even more pessimistic forecasts circulating, but they generally do not come from expert analysts.
It should be noted, however, that there are also many analysts who instead hypothesize only the beginning of a new phase of lateralization, simply within a lower range, whose bottom would be between $51,000 and $53,000, while the top is not yet clear (it could also be above $60,000).
Many, however, expect a change in trend in the autumn, perhaps already anticipated at the beginning of September or the end of August. Among those who expect this change in trend, optimism seems to prevail.
Performance of Ethereum: the crypto between Bitcoin and BNB
The trend of the price of Ethereum has been following that of Bitcoin quite closely since the end of May.
This thing, however, appears anomalous, given that precisely between this week, or at the latest next week, the spot Ethereum ETFs should land on the US stock exchanges for the first time.
The upward movement of ETH’s price at the end of May was due precisely to the news of the approval of these ETFs, but since then it has simply started to follow those of BTC.
Comparing the price of Ethereum with that of Bitcoin, one realizes that in May ETH had risen from 0.046 BTC to 0.057 BTC, but then it stabilized.
Indeed, in mid-June it had also fallen below 0.052 BTC, and now it is around 0.053 BTC.
At this moment, despite the imminent arrival of ETFs, the price of Ethereum does not seem to have the strength to move independently compared to that of Bitcoin, at least in the short term.
Predictions on the price of Ethereum (ETH)
After the actual launch on the stock exchange of spot ETH ETFs, many believe that the price of Ethereum could fall.
Observing the chart of the last few weeks, it indeed seems that the markets do not believe that these new financial derivatives can achieve a great result, at least in the immediate future.
Furthermore, there is always the risk that the Grayscale Ethereum Trust, once transformed into an ETF, may start liquidating large amounts of ETH, just as happened with BTC in January.
But if in the medium-short term many are not optimistic about the price of Ethereum, in the medium-long term the expectations change.
In fact, should Bitcoin wake up in the autumn, the presence of ETF on ETH spot on the US exchanges could benefit the price of Ethereum quite a bit.
Just think that after the arrival of the spot Bitcoin ETFs the price of BTC rose from about $45,000 to over $70,000, after initially dropping below $40,000.
The trend of BNB
The trend of the price of BNB follows that of Bitcoin, and of Ethereum, but it also follows the alternating fortunes of Binance.
To tell the truth, for years now Binance has been the largest crypto exchange in the world, and its dominance seems to be unchallenged, but last year it had several problems with the authorities, especially in the USA.
Taking Ethereum as a reference, the price of BNB last year fell below 0.1 ETH, after being above 0.26 ETH at the end of 2022.
In March of this year, however, it started to recover, first climbing to 0.17 ETH and then even above 0.20 ETH. Now it has returned to 0.17 ETH.
Taking instead as a reference the US dollar, a month ago it recorded its all-time high, at around 717$. It should be noted that Bitcoin also recorded its new all-time high this year, in March, while Ethereum did not.
So during the course of 2024 BNB has performed better than ETH, so much so that it is now at +64% since the beginning of the year. However, it should be remembered that in 2023 it had not performed well, while both ETH and BTC had already recorded really interesting gains.
Predictions on BNB and the Binance ecosystem
Making predictions about the price of BNB is more difficult, because much depends on the alternating fortunes of Binance.
Although today it is possible to state that in the event of a new bull run Binance seems destined to perform well, and consequently BNB, last year, for example, it was very difficult to predict that Binance would solve all its problems, as it eventually did, allowing the price of BNB to take off again.
In this case, in fact, in addition to the simple movements of the market, and the law of supply and demand, the economic results of Binance also matter, which are not easily predictable.