Bitcoin remains the strongest cryptocurrency in terms of adoption by retail and institutional users. Its pioneering status has made it one of the strongest store-of-value assets in the world.
That being said, the BNB token has been gaining multiple use cases over the years. Binance has released its smart contract chain, making its native token a DeFi powerhouse. So, if you are trying to enter the market at this moment, which would be the better choice?
In this article, we compare BNB to BTC and try to lay down the fundamentals, so you can understand their differences. Moreover, we will list some expert price predictions, which should provide a good overview of the potential of both coins. Let’s get started.
Bitcoin: What’s New?
Bitcoin has been trending just under the $20,000 mark for a couple of months now. However, considering the terrible macroeconomic environment, this plays in its favor. The original cryptocurrency has managed to remain somewhat stable, while fiat currencies are under decades-high inflation all over the world.
In the meantime, financial institutions have been massively moving to Bitcoin and are accumulating huge amounts of coins at these low prices. With the bitcoin halving still being 500+ days away, this has given the opportunity for many to enter the market.
BTC Price Action and Prediction
As mentioned previously, Bitcoin has been providing somewhat uninteresting price action in the past period. Since the beginning of September, the price has been stuck in a range between $20,000 and $18,000. Every break of this trend has been rejected, and BTC hasn’t managed to gain any momentum, in either direction.
However, some experts around the internet are predicting that BTC might see another leg up in expectation to the halving that is less than 2 years away. Digitalcoinprice.com provides a target of $35,235.28 for 2023 and a staggering $111,888.05 for 2030.
Priceprediction.net has a similar bullish overview. Their short-term prediction for 2023 is $35,798.54. However, in the long term (2030), they expect BTC to reach as high as $436,117.53.
What to Expect?
Bitcoin is gaining mass adoption with each cycle. However, one huge development for it is the adoption of the Lightning network, which allows users to instantly send BTC to each other. Bitcoin transactions are notoriously slow, and Lightning adoption could change the dynamics of the network for the better.
Binance Coin: What’s New?
Since the release of the Binance Chain in September 2020, BNB has gained a plethora of new use cases. Until then, this token had limited utility as a discount token on the Binance exchange. However, with the BNB chain, users can now stake it, pay for gas, and plug it into its DeFi ecosystem.
BNB Price Action and Prediction
Like most cryptocurrencies, BNB has been having a hard time in this bear market. It dropped from an all-time high of $640 to $270. Like BTC, it has been quite stable in the current macro environment. This allows experts to provide some bullish predictions.
Digitalcoinprice.com gives a target of $496.45 for 2023, with this price going as high as $1,578.49 for 2030.
Priceprediction.net expects BNB to reach $503.57 in 2023. However, for 2030, their targets are quite surprising, with a price of $7,417.17.
What to Expect?
The BNB price mainly depends on its adoption within its smart contract ecosystem. As the BNB chain grows and more dApps are released, demand for BNB increases, and so does its price.
BNB vs BTC: Which Is More Promising?
BNB and BTC are two very different cryptocurrencies, with different use cases. Comparing XMR to BTC could be a lot less challenging, as these are much closer in their utility.
Both BNB and BTC have huge growth potential, for different reasons. Consequently, a cunning investor would have a portion of their portfolio reserved for both of these coins simultaneously, considering their potential is linked to different factors.