Binance Coin (BNB) has had a fairly great experience on the cryptocurrency market this year and also recently. A cryptocurrency trader Josh Rager says the coin is still going to go higher because of the rumor that Binance will be launching margin trading, but it will face a bloody correction in the future.
$BNB– I’ll just leave this here because I care about you
I expect it to push up more with the margin trading rumors but I also expect it to there to be a bloody correction in the future
Don’t fool yourself, all markets correct
And will likely be the time I consider buying pic.twitter.com/7ka3oD2oUg
— Josh Rager ? (@Josh_Rager) May 24, 2019
BNB was at a point referred to as the new Bitcoin because of its massive influence on the market, at a point determining price action. Since its creation, the coin has made rather quick progress, moving from the 49th to the 7th largest cryptocurrency within a single year. This may have caused BNB holders to think that the coin will not face any serious price correction, but Rager says “all markets correct.”
As a matter of fact, he is waiting for the massive correction that will hit BNB as an opportunity to buy the coin. Josh Rager is a seasoned trader and his perspective on BNB isn’t out of bliss as his tweet says “$BNB– I’ll just leave this here because I care about you”, neither is it investment advice, but might be worth paying attention to it.
Meanwhile, Binance has confirmed it will be launching its margin trading platform soon. Techcrunch reported that the service has already been launched in Beta mode. This development has attracted a lot of attention on Twitter with some members of the crypto Twitter community expressing their joy on the coming service.
This is also a potentially huge push for BNB as Rager said, with a caution. As usual, BNB is one of the top ten coins glowing in green and is, in fact, the highest gainer at 4.05% at press time. This could be due to the recent margin trading announcement and may remain high for some time before Rager’s bloody correction.
As Bitcoin is showing signs of an upward trend, will the correction be when Bitcoin hits another major pullback at $9,000 or will BNB be left behind when the next move starts? If the latter is true then the coin may have a lot of glowing left to go but if not, Rager’s words may be closer to reality than most people think