No, Binance Coin (BNB) Is Not The New Bitcoin (BTC) – Weiss Ratings

A Possible Future Of The Binance Coin (BNB) in the Next 9 Months

Binance Coin (BNB) has been quite successful in the cryptocurrency market in the last few weeks, leading the market and determining the direction of movement. This led to the cryptocurrency community asking if BNB has become the new Bitcoin (BTC) of the industry.

Weiss ratings has also asked the same question and gotten several responses. In spite of the several different opinions, Weiss Ratings says BNB cannot replace Bitcoin no matter how much it leads in the market, first because it is centralized. One of the strong points of Bitcoin is its decentralized nature that ensures the security of the network. As far as they are concerned, BNB is too centralized to become the new Bitcoin.

Secondly, Weiss ratings argue that BNB’s price correlation is temporary rather than a reliable feature and in addition its rather rapid price rise is unsustainable. These are weaknesses in the BNB network that make BNB incapable of replacing Bitcoin in their opinion.

Weiss Ratings had asked a question on Twitter on whether BNB will soon replace Bitcoin as it has been leading massively in the market. While some news websites have suggested that Weiss ratings actually said BNB is the new Bitcoin, the famous financial rating agency has finally made its position clear on the matter.

BNB has been one of the best performing cryptocurrencies since the beginning of 2019. The crypto asset hit its all-time high price in February and was on the verge of setting a new high few days ago. Not just that, BNB was determining the market direction, a role that Bitcoin has been performing since 2009.

At press time, however, BNB is one of the highest losers among the top ten cryptocurrencies in what seems to be a slight pullback today. All top ten cryptocurrencies are currently in the reds but it may not last as it seems the lead asset Bitcoin, will soon make a move on its way up.

The market promises to be bullish for all crypto assets, however, some will be ahead of others and now that Weiss Ratings has inferred on BNB taking over from Bitcoin, we can look forward to a better future for the entire industry with Bitcoin still maintaining the lead.

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