BGB Price Prediction: A Rally Above $5 or a Decline To $3?
BGB trades below the new resistance formed by its all-time high at $4.38. The token could flip this resistance into a support floor if buying pressure strengthens. If successful, it may trigger a rally to a new all-time high, 5$.
BGB Price Analysis. Source: TradingView
Ryan Lee, Chief Strategy Officer at Bitget Research, shared a more optimistic outlook with BeInCrypto, stating that the exchange’s expansion into new markets is set to drive BGB’s price to new heights.
“Backed by strong fundamentals and increasing adoption of the Bitget platform, the growing market engagement potentially pushes the price toward the target of $5.00 in the medium term. In the long term, if BGB had the same market cap as BNB, the price of BGB would be approximately $74.82 per token,” Lee stated.
However, a spike in profit-taking activity will invalidate this bullish outlook. In that scenario, the BGB token price could plunge to $3.47 in the near term.