Binance Coin (BNB) has risen significantly since March 2020 and has continued to hit new all-time highs at $ 200 on Feb. 18, 2021.
Binance Coin is currently in third market cycle. This cycle has seen unprecedented growth in BNB.
During this period, BNB has exploded, up almost 1,900% from its March 2020 low below $ 10.
The first cycle of Binance Coin
BNB’s first market cycle started as low as $ 0.5 on November 17, 2017. It was followed by a 4,936 percent gain in just 67 days. This number culminated with a high of $ 25.18, reached on January 12, 2017. This level remains the all-time high for BNB until April 2019.
After reaching the highest level, BNB is down 84% in 329 days. This is a major correction, but it is more gradual than the previous up move.
BNB descends until it reaches as low as $ 4.12 on December 7, 2018. After that, BNB begins its second cycle.
Second cycle
The second cycle is much slower than the first.
BNB rose 861% over a period of 197 days, peaking at an all-time high of $ 39.59 on June 22, 2019. This all-time high remained until December. year 2020.
Interestingly, when BNB broke out of its previous all-time high, it dropped significantly before regaining losses.
Unlike the up move, the next correction is almost identical to the first one. BNB decreased 84% over 265 days in this correction.
After hitting a low of $ 6.30 on March 13, 2020 – very close to the previous low of $ 4.12 – BNB begins its third and current market cycle.
Third cycle
The third market cycle started with the aforementioned March 13 low and is still ongoing.
So far, BNB has gained 1,885% since then without experiencing a significant pullback.
After it crossed the previous all-time high, BNB returned to confirm it as double support and has risen ever since.
On February 18, 2021, BNB climbed to a new all-time high of $ 200 before falling slightly. This caused BNB to increase more than 300% in February alone. Considering there are no higher resistance levels to clear, BNB is enjoying a period of parabolic price discovery.
