PIVX Price Continues Bucks the Trend as Other Coins Face Declines
Today is not shaping up to be a good day for cryptocurrencies, although that is not entirely surprising. Interestingly enough, it seems the PIVX value is not experiencing the same pressure, as that altcoin notes some extremely interesting gains. Bitcoin has shown signs of weakness for some time now, and the dip is finally happening.
PIVX Price Bucks the Trend
Under traditional circumstances, a declining Bitcoin price will force altcoins to undergo very similar momentum. Simultaneously, more and more altcoins tend to decouple themselves from Bitcoin’s momentum as the years pass, and PIVX is an interesting example. That has been the case for multiple years to date, and it seems the year 2018 will not be any different either.
During the last 24 hours, the PIVX price has shown a very interesting trend. Courtesy of a 6.5% increase in the USD department, the value has now risen to $1.15 again. If this trend keeps up, combined with the 11.5% increase over Bitcoin, PIVX may very well be the market to watch for the remainder of the day. It is a pretty interesting price point for PIVX, even though it is a very long way removed from the all-time high set in early 2018.
It would also seem the marketing machine for PIVX is in full effect. Simultaneously, one has to keep in mind how there might not necessarily be a lot of consumers spending PIVX on goods and services as of yet. A recent tweet shows how the number of places accepting PIVX transactions is on the rise, further confirming a lot of retailers see merit in this particular altcoin.
#PIVX is all about real-world-use & providing ease of use for hodlers, investors, traders, & spenders. With its low fees & near instant transactions, it's the perfect choice for merchants! Accepting PIVX? Add your listing today! https://t.co/bUJhVj3YWC #cryptocurrency #merchants pic.twitter.com/hboVdVyPQw
— PIVX (@_pivx) October 10, 2018
Additionally, PIVX tries to position itself as a secure and private counter to traditional banking. A fair few new tools have been introduced over the years, making this ecosystem all the more robust. As is usually the case, any real development in this department will create some excitement, albeit PIVX still has work to do prior to gaining any real market traction.
At PIVX, users like to do their banking secure and private, Besides that we also like to give them the best support possible See e.g. this toolsupportpage https://t.co/q7yNNbpRia |#PIVXsupport #PIVX #crypto #btc #privatebanking #investors #investeren pic.twitter.com/cRMn3aVz0u
— PIVX The Netherlands (@pivx_Holland) October 10, 2018
Traders and speculators are convinced this is only the beginning of what the future may hold for PIVX moving forward. That in itself is a rather interesting sentiment, specially when considering how profits are already very difficult to come by in the cryptocurrency world for most of the year. CryptoFever_Official claims it is better to hold onto PIVX instead of sell even if it goes up by 50%.
Buy and Hold.. Don't sell 50%+, x2 Mid Term.
So Many Great News and a Good Privacy coin. Also most Undervalued Coin. You can also hold for Long-term
— CryptoFever_Official💹 (@CryptoFever1) October 10, 2018
Based on the current market circumstances, it will be interesting to observe how long PIVX can evade the downward trend. Simultaneously, the altcoin offers some excitement which other currencies do not, thus it remains an interesting market regardless. Some of the initial gains have already been wiped out in the last few hours, although it is evident things may not remain at this level for long.