It feels as if BINANCE is going to blow up the Bitcoin Bubble big time

[Get-Paid.com]

We were aware of the token called "Binance Coin" a long time ago. In July 2020 we posted an article about it when the price of 1 BNB was only $18.

However, we are considering publishing an article about the exact opposite direction, since Bitcoin has completely bubbled itself into the $50k territory and 1 BNB is worth now close to $200 ! (more than 10x times what it was worth in July 2020).

The only way for the Crypto bubble to burst is through Binance, that's how we see it.

Binance is not really regulated, and it's perhaps one of the top Crypto exchanges out there.

However, the fact it's not regulated is putting it at huge risk, and currently the bubble is inflated so much, so all it takes is some action against it just like the previous payment providers such as e-gold and LibertyReserve which have been destroyed by US regulators - and then you have a worldwide bubble coming into a huge burst.

What do you think about this scenario? How far is it from reality?

We definitely wish Binance lots of success and we hope it would never go under any type of scrutiny but the bubble is inflated in a way that this scenario is simply screaming out loud that it is going to happen.

But what do you think?

We would like to hear your opinions.

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[mk4]

BNB totally collapsing is actually a net positive for Bitcoin lol. Look, if it so happens that we get huge bad news for Binance and or BNB, where do you think the BNB holders would trade their money to? It's just either BTC, or some stablecoin.

[BrewMaster]

since Bitcoin has completely bubbled itself into the $50k territory

that is your false opinion, and you think this way because you have believed the FUD that brainwashed you into thinking bitcoin can't or shouldn't go up.
the fact is that bitcoin is actually very undervalued right now and must be worth a lot more than this to reach its intrinsic value. then has to go up 3x more to reach a bubble.

and 1 BNB is worth now close to $200 ! (more than 10x times what it was worth in July 2020).

there are a lot of shitcoins that are getting pumped and dumped. the more centralized they are the easier it is to pump them up during times of great hype.
take XRP shitcoin for example, it is practically a dead coin with no usages and has been dumping for over 4 years now. they just pumped it last month from $0.2 to $0.5

The only way for the Cryptoaltcoin bubble to burst is through Binance, that's how we see it.

FTFY

What do you think about this scenario? How far is it from reality?

it is too far that it doesn't even see the reality line anymore.
the reality is that Binance is a massive altcoin exchange like its predecessors that used to be massive altcoin exchanges and all died giving their place to another exchange. a chain that has ended with Binance and will be another exchange soon.

all of them blew up the same way too. Cryptsy then Poloniex then Bitrex then Binance. and none of them ever affected bitcoin price even the slightest bit.

[Bitstar_coin]

Sounds more like an opposition post, why focus on bmb only, look at eth and how it is being pumped, bnb has a limited circulation on like eth that has no max supply yet keep pumping in price,
I believe cz is clever enough to know what to do in this regard, bnb is pumping because investors are busy buying just as investors are busy buying btc even at current price.

[ChiBitCTy]

I read through your post here a couple times and I can't really understand what you're trying to get across here.  I don't think Binance or Binance coin has anything to do with bitcoin and YOUR perceived bitcoin bubble.  You're assuming bitcoin is in a bubble but many others are not.  What says bitcoin is a bubble, how can you prove this?

[LFC_Bitcoin]

BNB totally collapsing is actually a net positive for Bitcoin lol. Look, if it so happens that we get huge bad news for Binance and or BNB, where do you think the BNB holders would trade their money to? It's just either BTC, or some stablecoin.

Exactly!
Fuel the fire with as many massive shitcoin pumps as possible. A large % of the profits always end up in bitcoin which works perfectly for me. I don’t dabble much in alts, I’m nearly 100% bitcoin which has proved very good so far.

So in conclusion, let BNB pump to over $1,000. Most of that will flock into BTC any way.

[sar3]

I don't get the point. Why should a BNB invoke a crash of Binance?

I use BNB as intended imo (saving fees on futures trading and other binance related stuff). Price of 200+ against USD is nice, but I usually erase USD from all my calculations.

[pixie85]

The only way for the Crypto bubble to burst is through Binance, that's how we see it.

Altcoins do not influence Bitcoin it's the other way round!

If bitcoin crashes by itself it will take all altcoins down with it but if BNB crashes by itself it's not going to crash Bitcoin.

Also, I don't feel like 50 thousand is such a big bubble. A lot of it comes from institutions not new investors. We could reach even 100 thousand before it becomes unstable.

[Mistafreeze]

We were aware of the token called "Binance Coin" a long time ago. In July 2020 we posted an article about it when the price of 1 BNB was only $18.

However, we are considering publishing an article about the exact opposite direction, since Bitcoin has completely bubbled itself into the $50k territory and 1 BNB is worth now close to $200 ! (more than 10x times what it was worth in July 2020).

The only way for the Crypto bubble to burst is through Binance, that's how we see it.

Binance is not really regulated, and it's perhaps one of the top Crypto exchanges out there.

However, the fact it's not regulated is putting it at huge risk, and currently the bubble is inflated so much, so all it takes is some action against it just like the previous payment providers such as e-gold and LibertyReserve which have been destroyed by US regulators - and then you have a worldwide bubble coming into a huge burst.

What do you think about this scenario? How far is it from reality?

We definitely wish Binance lots of success and we hope it would never go under any type of scrutiny but the bubble is inflated in a way that this scenario is simply screaming out loud that it is going to happen.

But what do you think?

We would like to hear your opinions.

You got paid by some binance rival for posting this? Why would any exchange want to do that?
Btc is the mother of all cryptos, if it goes down, entire market sentiment will shaken and all alts will go down to including bnb

[JeromeTash]

Even if Binance was brought down. I don't think It would affect bitcoin in the long run. I mean, we now have several good crypto exchanges that are just waiting to take over from Binance. If Bitcoin's success was reliant on the biggest exchanges at  the time operating smoothly, then it would have died when Mt. Gox, the biggest exchange at the time got hacked and shutdown, but guess what? We are $52K today.

[masterzino]

..

Well, considering that Coinbase is looking for a $77bn [1] IPO valuation, BNB at a $30bn market cap is not much of a surprise.

But you are right. If any of the big exchanges bust, the crypto total market cap will drop 50% in a blink. Still, I believe crypto will recover in the long run, just remember MtGox.



[1]  https://www.coindesk.com/coinbase-valuation-nasdaq-private-market

[notblox1]

What is going to blow up huge regulated fiat and equity global bubble?
If something is going to pop in crypto than that is Tether USDT and not Binance exchange with their ethereum killer replacement attempt, and reason for pumping their price is high fees on ethereum and CZ army shilling their coin everywhere.
And let's not forget that Binance also earns a lot of money from liquidations and leverage trading, and they have one of the biggest Bitcoin mining pools.

[tranthidung]

Bitcoin - Altcoins - fiats or stable coins.

Capital in the market operates with this cycle. Binance is an altcoin and when it as well as altcoin season is cooled down, bitcoin will attract the capital and fuel its growth again.

It is true in bull or bear market and with the current market that is bullish, when bitcoin gets more fuel (capital) it will climb a lot. A note is bitcoin is only in its mid of the parabolic curve. Another note is with crypto market, overbought effects can make price exceeds far than any prediction or forecast.

[Sithara007]

I can see that the BNB prices have gone up by almost 12x during the last one year. But many of the altcoins had similar growth. Cardano, for example grew by more than 30x during the same period. And at least in the case of BNB, I have a feeling that their high valuation is justified. They remain as the largest cryptocurrency exchange, in terms of volumes and number of users. And the BNB market cap (~35 billion USD looks reasonable for me). If Coinbase can be valued at $77 billion, then it is fair that Binance is valued at less than half that amount.

[malevolent]

BNB totally collapsing is actually a net positive for Bitcoin lol. Look, if it so happens that we get huge bad news for Binance and or BNB, where do you think the BNB holders would trade their money to? It's just either BTC, or some stablecoin.

Historically, collapsing of anything to do with a large exchange has been bad news for Bitcoin, at least in the short to medium term. BNB can also be traded against 200 pairs so it's not even a guarantee a large part of it will be exchanged for bitcoins.

[mk4]

Historically, collapsing of anything to do with a large exchange has been bad news for Bitcoin, at least in the short to medium term.

It really depends on what kind of "collapse" we're talking about. If BNB collapses in a way that BNB gets completely shat on for whatever reason, it's almost guaranteed to be a net positive for bitcoin imo. On the other hand, if we're talking about an exchange hack, then sure it's going to be bad.

BNB can also be traded against 200 pairs so it's not even a guarantee a large part of it will be exchange for bitcoins.

Definitely not guaranteed but it's a huge likeliness imo.

[davis196]

I'm pretty sure that this forum thread is an attempt to spread FUD...
Yeah,there's a possibility for Binance and their BNB coin to collapse,leading to a BTC price drop.And so what?
The Bitcoin price will drop for a while and recover after a while.I don't see any drama.
I don't know if Binance is unregulated or not,it would be better for the crypto industry if they are complying to all the regulatory rules.The owners and shareholders of Binance don't want their company to get destroyed by the regulators,so they will do whatever they can to keep their business up and running.

[Vishnu.Reang]

I'm pretty sure that this forum thread is an attempt to spread FUD...
Yeah,there's a possibility for Binance and their BNB coin to collapse,leading to a BTC price drop.And so what?
The Bitcoin price will drop for a while and recover after a while.I don't see any drama.
I don't know if Binance is unregulated or not,it would be better for the crypto industry if they are complying to all the regulatory rules.The owners and shareholders of Binance don't want their company to get destroyed by the regulators,so they will do whatever they can to keep their business up and running.

Agreed. Right now any chance of Binance collapsing is very minimal. BNB is also doing pretty good, with historic high exchange rates and trade volumes. The exchange has always followed whatever regulations that are applicable and they never had any issue with the authorities. In the unlikely scenario of something going wrong for Binance, obviously there will be a negative impact for the entire cryptocurrency market. But it is going to be a short-term dip, rather than a long lasting correction.

[NeuroticFish]

The only way for the Crypto bubble to burst is through Binance, that's how we see it.

BNB demise would be beneficial to Bitcoin, since all that money that's locked in BNB would go back into Bitcoin.
On the other hand, BNB demise would mean Binance's demise, and such an event for a top exchange would indeed affect Bitcoin. But that should also be a short-term problem.
All in all, XRP was much bigger, it has fallen and Bitcoin didn't really care. So why would BNB story be so scary?!

[malevolent]

All in all, XRP was much bigger, it has fallen and Bitcoin didn't really care. So why would BNB story be so scary?!

XRP is a shitcoin, so if BTC falls, XRP declines even more. But if BNB falls because of something bad happening to Binance, BTC will get hit with a ricochet, although the ricochet being Binance, not BNB itself.