Binance Coin (BNB) has increased significantly since March 2020, and raised the ATH price to $ 200 on February 18, 2021. The BNB coin is currently in the third market cycle. This cycle saw unprecedented growth for BNB.
During this period, BNB exploded and grew nearly 1,900% from below $ 10 March 2020 low.
First Binance Coin Cycle
The first market cycle for BNB started on November 17, 2017 at a low price of $ 0.50. BNB was followed by a massive 4,936% increase in just 67 days. The BNB price peaked at $ 25.18 USD on January 12, 2017. This level remained BNB’s all-time high until April 2019.
After reaching the highest level, BNB decreased by 84% in 329 days. This was a significant fix, but more gradual than the previous upward move.
BNB moved down until it dropped to $ 4.12 on December 7, 2018. After that, BNB started its second cycle.
The second cycle was much more gradual than the first.
BNB increased by 861% over a 197-day period, resulting in an all-time high price of $ 39.59 on June 22, 2019. This all-time high remained until December 2020.
Interestingly enough, after BNB broke its previous all-time high, it dropped significantly before finally regaining its losses.
Unlike the upward move, the following correction was much more similar to the first. In this adjustment, BNB decreased by 84% in 265 days.
BNB started its third and current market cycle after reaching $ 6.30 (very close to the previous low $ 4.12) on March 13, 2020.
The third market cycle started and continues with the aforementioned March 13 low.
So far, BNB has risen 1.885% without undergoing a significant pullback since then.
After rising above its previous all-time high, BNB has returned twice to confirm support and has continued to rise ever since.
On February 18, 2021, BNB climbed to its all-time high of $ 200 before retracting slightly. This brings BNB to over 300% in February alone. Given that there are no higher resistance levels to clear, BNB is enjoying a period of parabolic price discovery.