bullish

April

Coin

<p>With the recent news that Changpeng Zhao, the ex-CEO of Binance, will be released on September 29th, the buzz around Binance Coin in the crypto market has increased. However, will this recent buzz result in a new bull run for Binance Coin, surpassing the $724 all-time high mark?&nbsp;</p>  
<h2 class="wp-block-heading" id="h-recap-of-cz-arrest-and-binance-s-4-5-billion-fine-nbsp">Recap of CZ Arrest and Binance’s $4.5 Billion Fine&nbsp;</h2>  
<p>Previously, on April 30th, CZ was sentenced to four months in prison for the ineffective implementation of an anti-money laundering framework over Binance. This made Binance a go-to platform for cyber criminals and alleged terrorist activities.&nbsp;</p>  
<p>On a side note, due to this legal matter, CZ resigned as the CEO of Binance in November 2023 and paid a $50 million fine as a settlement fee with the US authorities.&nbsp;This dropped in Binance Coin price in short-term.</p>  
<p>Additionally, Binance agreed to pay almost $4.5 billion for civil regularity penalties. Despite being sentenced in April 2024, CZ started serving his prison time not until late May 2024.&nbsp;</p>  
<p>As the four months pass by, CZ will be stepping out of prison this Sunday, September 29th. This has led to a massive boost in Binance's trading volume. However, questions are arising about whether investing in Binance right now is safe. So, let's take a look at the historical records.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-binance-coin-performance">Binance Coin Performance</h2>  
<p>On April 30th, the sentencing day of CZ, the Binance Coin price fell by 2.45%. However, the BNB coin price remained sideways in a larger consolidation pattern ranging from $500 to $636.&nbsp;</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf9WtK9A_9288pCmSIS9OKaj-MRpJj72dWEzEzdXowY1XUyh1qNZuTTs0U2IFpmrPl8jO-VBe3QXvYR-AWnWa69B5s982CvUAxmxacQzYCs7XJMmT3Ct_5EFyQds-NNfWHKQVgiSzf01ygcJrsmn0QgCR5K?key=4YHgvILVp-Ie90AFxO0crQ" alt="Binance Coin Price Chart">
</figure>  
<p><a href="https://www.tradingview.com/x/D0Pj0rxP/" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>Furthermore, the Binance Coin price recovered from the time between the announcement of the sentence and the start of serving time by almost 5%. Hence, despite being potentially bearish news, the BNB price sustained spikes in FUD and asserted dominance above the 50-day EMA.&nbsp;</p>  
<p>During this period, it was in a consolidation range, reflecting the resilience of the underlying demand.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-is-binance-coin-safe-to-invest-in">Is Binance Coin Safe To Invest in?</h2>  
<p>The Binance Coin price is on a bullish rally and has registered a price jump of almost 25% within the last 20 days. Trading near the $600 resistance level, the intraday recovery of 1.48% puts the BNB coin price on a bullish foot.&nbsp;</p>  
<p>With the bullish news of CZ coming out of prison on September 29th, the underlying resilience, strong performance, and ongoing recovery rally breaking a falling channel make BNB a potentially safe investment.&nbsp;</p>  
<p>Furthermore, the upcoming crypto rally in October is likely to boost the BNB price above the $700 mark.</p>  
<p>Curious to know if Binance Coin will hit $1,000 this year? Find out now in Coinpedia's <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Binance Coin (BNB) Price Prediction</a> for 2024 to 2030.</p>

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