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BNB’s Price Predicted To Take a Hit Because of Increasing FUD

Published 29/08/2023, 09:34
BNB’s Price Predicted To Take a Hit Because of Increasing FUD
BNB/USD
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  • An increase in FUD could negatively impact BNB’s price soon, according to CryptoBusy.

  • However, over the past 24 hours, BNB’s price was able to climb by 0.47%, which left the token trading at $217.71.

  • From a technical standpoint, BNB was attempting to break above the key $220 resistance.

The price of Binance Coin (BNB) could soon face a decline, according to a Twitter post shared by the educational platform CryptoBusy yesterday. This hypothesis was based on the fact that it only took about 2 weeks for FTX to collapse when the fear, uncertainty, and doubt (FUD) started to spread against them.

CryptoBusy believes this could soon be the case for BNB as well, given its FUD has been experiencing drops and increases over the past 10 months. Although the CryptoBusy team believed the price of the utility token could go either way, they predicted that its increasing FUD could impact BNB negatively in the near future.

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