Bitcoin recently hit a new all‑time high, while BNB Coin emerged as the top‑performing asset among major cryptocurrencies. As Ethereum reclaimed $4,700, Binance‑backed BNB surpassed the $1,300 threshold. This raises questions about future price targets for BNB Coin and whether the upward trend in altcoins will continue. What could be the next price point for BNB?
Price Predictions for BNB Coin
Many altcoins are experiencing price increases, largely due to Bitcoin’s closings close to its all‑time high (ATH) zone. The latest ETF investments have significantly supported this trend. For months, analysts have been forecasting four‑digit prices for BNB, and exceeding $1,000 had set the stage for a swift climb to $1,300.
This development started with the introduction of Aster Coin, where Binance CEO, known as CZ, openly declared support, boosting the platform’s success. The protocol’s revenues have been satisfactory, and there’s been noticeable capital inflow into the Binance Smart Chain network. Altcoins on this network are also benefiting from the positive momentum, making it unlikely for BNB’s price to stagnate.
A chart shared by an analyst known as CryptoBullet indicated a 1250‑dollar target had been reached, with a 108% increase from prior forecasts. The final price target is set at 1570 dollars, based on the 1.618 Fibonacci Extension level.
However, on September 19, the analyst had already stated, “I reached my $1,000 target with a +68% increase since February. Breaking the ascending wedge’s resistance and closing above it signals an uptrend, but we should remain cautious. BNB is not currently a good asset to purchase. The RSI’s potential for growth remains something I will be monitoring.”
Despite predicting a price above 1,500 dollars, the analyst advised caution about a month ago, leaving room to reevaluate if predictions shift once more.
The Rise of Cryptocurrencies
Some analysts suggest that as Bitcoin hovers in its ATH zone, a deep lower wick could appear, and the lackluster appetite in the altcoin sector supports this view. However, with no crystal ball to predict the future, the immediate focus is on the Federal Reserve minutes, set to be released tomorrow evening. Details in these minutes hold potential to incite those anticipating a lower wick.
Analyst Nic pointed out that the total value of altcoins hasn’t yet reached its peak value from 2021, and a significant breakout could occur as this threshold is approached.