The exchange did well till now despite the FTX crash and other issues. Popular cryptocurrency researcher Nicholas Merten has warned that Binance Coin BNB may soon collapse, despite performing quite well in comparison to other cryptocurrencies. BNB, which was previously a strong performer in andhas shown a lack of upward momentum with lower lows and lower highs in recent weeks or months.
It appears to be on the verge of a significant decline. Reasons for collapse People are concerned that BNB would end up being classified as a security, which would prevent it from being listed on several US exchanges. There may be no basis for much of the fear investind în ethereum reddit uncertainty being spread.
Additionally, Merten is sounding the alarm about the bearish price action in the equity markets having an adverse effect on cryptocurrency. While it is possible that the downturn may not be as severe as the crisis, the charts are warning of potential difficulties ahead.
The host does not necessarily imply that this will happen, but rather raises the possibility as a cautionary warning. Currently, market bears appear to have control, but if bulls do not bounce back soon, bears could take over the market. If the price breaks support, bears could have a significant impact on the market, potentially causing it to favor bulls.
It is important to monitor the market closely in the coming days to see if a reversal does occur.