With Bitcoin’s (BTC) next halving event just around the corner, many analysts anticipate another market rally just before or following the event. Binance Coin (BNB) has witnessed a significant pump over the last few weeks, rallying nearly 21% in the 14-day charts, 56.6% over the previous month, and almost 74% since March 2023.
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BTC’s halving will reduce the asset’s supply and thereby may lead to an increase in prices. Being the market leader, BTC could trigger a market-wide rally for other altcoins, such as Binance’s BNB.
How high will Binance Coin (BNB) go during Bitcoin’s halving?
According to CoinCodex, BNB could rise to $738.31 on Apr. 10, 2024. Reaching $738.31 from current levels would translate to a growth of about 29.3%. However, the platform predicts BNB may witness a correction soon after hitting the $738.31 mark, falling to $683.6 by Apr. 20, 2024.
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Changelly, on the other hand, does not anticipate Binance’s BNB to breach the $700 in April. The platform predicts a maximum price of $699.85 in April, a rise of about 22.6% from current levels. Furthermore, according to Changelly, the $699.85 price level will be the highest for BNB in 2024. The platform expects the asset to head down for the rest of the year.
Telegaon, however, predicts BNB to hit a maximum price of $839.42 in 2024. Reaching $839.42 from current levels would translate to a growth of about 47.11%. However, the platform does not clarify which month of 2024 BNB may attain this level.
There is also a possibility that Binance Coin (BNB) may continue to surge even after hitting a high in April, contrary to Changelly’s prediction. If inflation in the US cools down, we may see a surge in the crypto market.
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