Binance Coin ($BNB) and Bitcoin Cash ($BCH) May Rise Soon, Says Popular Crypto Analyst

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A popular cryptocurrency analyst has expressed optimism for two popular altcoins, Binance Coin ($BNB) and Bitcoin Cash ($BCH), suggesting that both could see their prices rise further in the near future.

The pseudonymous analyst, known as Kaleo on the microblogging platform Twitter, advised his audience of nearly 600,000 people on the potential of BNB, Binance Smart Chain’s native token. Kaleo argues that the token, which is priced below $250, represents a bargain at the moment.

Along the same lines, I understand that these are two completely different cases.

But, I really believe stacking BNB under $250 will pay off and see a decent squeeze out of that range. https://t.co/YG724n41GM

KALEO (@CryptoKaleo) July 11, 2023

His analysis suggests a potential return of BNB to the $300 price range, and perhaps even an upward push towards its previous high of just over $340, seen in April. All of this could possibly unfold in the last quarter of 2023.

The analyst further points out that while Binance Coin is not currently generating significant buzz, he anticipates a shift in its media attention once it begins its ascent.

BNB is also the native token of major cryptocurrency exchange Binance, and is used in a number of promotional offers on the platform. Binance was sued by the SEC last month, with the regulator accusing the exchange of illegal securities trading in a move that has sent shockwaves throughout the cryptocurrency space.

Binance denied the allegations, expressing disappointment with the SEC’s decision to abandon a negotiated settlement process and resort to litigation. The company has pledged to defend its platform with determination, criticizing the SEC’s regulatory approach as lacking the nuanced understanding required for such a dynamic and complex technology.

The lawsuit saw a major BNB holder wake up after two years to sell some of his holdings on the market, reaping substantial profits and signaling an intriguing shift in crypto whale behavior.

Kaleo also notably commented on Bitcoin Cash ($BCH), a cryptocurrency that saw its price soar earlier this month after EDX markets backed by Fidelity, Charles Schwab and Citadel began trading with it.

Kaleo noted that he decided to invest in BCH as he likes how it looks compared to the flagship cryptocurrency and sees the potential to see a higher final leg in the near future.

Bitcoin Cash was created in August 2017 following a hard fork of the Bitcoin blockchain at the end of a years-long scaling debate, and is trading at the time of writing at 0.0087 BTC per token, according to data from CryptoCompare.

Featured image via Unsplash.

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