Binance Coin is currently in its third market cycle. This cycle has seen unprecedented growth for BNB.
During this period, BNB has exploded, growing nearly 1,900% from its March 2020 lows under $10.
First Binance Coin Cycle
The first market cycle for BNB began with a low of $0.50 on Nov. 17, 2017. BNB followed that up by increasing a massive 4,936% in only 67 days. This culminated with a high of $25.18, which was reached on Jan. 12, 2017. This level remained BNB’s all-time high until April 2019.
After the high was reached, BNB decreased by 84% over 329 days. This is a significant correction, but it was more gradual than the preceding upward move.
BNB move downwards until a low of $4.12 was reached on Dec. 7, 2018. After this, BNB began its second cycle.
The second cycle was much more gradual than the first.
BNB increased by 861% over a period of 197 days, culminating with an all-time high price of $39.59 on June 22, 2019. This all-time high remained until Dec. 2020.
It’s interesting to note that once BNB broke its previous all-time high, it dropped significantly before eventually regaining its losses.
Unlike the upward move, the ensuing correction was much more similar to the first. BNB decreased by 84% over 265 days in this correction.
After reaching a low of $6.30 on March 13, 2020 — very close to the previous low of $4.12 — BNB began its third and current market cycle.
The third market cycle began with the aforementioned Mar. 13 low and is still ongoing.
So far, BNB has increased by 1,885% in the days since, without undergoing a significant retracement.
Once it broke out above the previous all-time high, BNB returned to validate it as support twice and has been moving upwards since.
On Feb. 18, 2021, BNB was able to climb to a new all-time high of $200 before retracing slightly. This puts BNB up over 300% in February alone. Considering there are no higher resistance levels to clear, BNB is enjoying a period of parabolic price discovery.
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