When Bitcoin goes in the red again, a sudden sea of bearish pressure emerges upon all alternative markets. Today is once again one of those days where no project seems to note real gains. One interesting exception is the VeChain price. Despite some hourly bearish pressure, its overall price trend remains intact.
VeChain Price Trend Trucks Along Nicely
It is always interesting to see how the different alternative markets handle Bitcoin’s bearish momentum. As can be seen on the market cap tracking sites, most of them are not doing too well right now. In the top 15, VeChain is the only notable exception in this regard. Its uptrend is still intact, primarily because the altcoin continues to gain in BTC value.
Over the past 24 hours, the VeChain price has risen by 5% in USD value and nearly 6% in BTC value. Because of these gains, the VET price sits at $0.004547, or 115 Satoshi. That in itself is pretty remarkable for many different reasons, primarily because the overall industry trend is anything but positive or stable right now.
On social media, there is no shortage of people trying to explain the benefits of VeChain, Pablo Wilco goes as far as directly addressing Elon Musk in terms of using VeChain for Tesla-oriented ventures. A bit of a bold move first and foremost, although those who dare take some risks often achieve success. For now, musk has not responded to this “challenge” as of yet.
Maybe look into #VeChain and what they are doing with automobiles, maintenance, carbon credits and blockchain. BYD could provide some insight for Tesla.
— Pablo Wilco (@PabloWilco) February 21, 2019
Scott has seemingly missed all of the recent crypto winter, for some unknown reason. While it is true VET hit an ATH that was much higher at one point, those days are long gone. The current value of below $0.005 is not instilling much confidence in that regard. However, it seems the ATH of $10 is not entirely accurate either. That figure only comes to surface where long-term price speculation is concerned.
— Scott M*XRP*UK (@scottm2306) February 21, 2019
Br1ght Eyes seemingly has no shortage of positive thoughts where the VET price is concerned. Although this token has yet to reach $0.005 again, this user expects the momentum to top out near $0.0053. A bold prediction, given the overall market momentum. Even so, if VeChain bucks the overall trend, that price point may not be ludicrous either.
— Br1ght Eyes 🇧🇷 (@BEyesCrypto) February 21, 2019
For the time being, no one should dump everything into VeChain in search of quick profits. While the altcoin is still going strong, it seems unlikely it will buck the bearish pressure for a long time. Additionally, VET has rather bleak trading volume, which may prove insufficient to sustain the uptrend. Reaching $0.005 will seemingly not occur today.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.