Every story that has captivated the imagination of the modern man features a scintillating protagonist going up against a menacing antagonist. For all the strength, tenacity, or intelligence of the hero, it is often matched, if not, exceeded by the antihero. We see this relationship embodied between fictional characters; Batman and the Joker, Professor X and Magneto, Neo and Agent Smith, and many others. No one is greater than the other; just two entangled forces moving in opposite directions. In the cryptocurrency world, no pair share this relationship more tangibly than Bitcoin (BTC/USD) and Binance Coin (BNB/BTC). In this article, we show the inverse relationship of Bitcoin and Binance Coin.
A Tale of Two Reversals – Bitcoin vs. Binance Coin
On December 27, 2017, Bitcoin was just coming off of an all-time high of $19,891. Investors were euphoric. Even though the market was up by over 1,957% for the year, gurus and experts urged people to buy the dip. The correction was temporary, they said, as Bitcoin’s year-end-target was around $22,000.They were wrong because on that day, BTC/USD printed its first lower high in months. The lower high was the first sign that the bull run was over. BTC/USD daily chart in December 2017While BTC/USD was showing signs of exhaustion, BNB/BTC broke out of a rounding bottom reversal pattern on the daily chart. It signaled the start of the pair’s seven-month uptrend.