Binance Coin (BNB) has increased considerably since March 2020 and has proceeded to reach a new all-time of $200 on Feb. 18, 2021.
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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