Old patterns show up and it’s a good thing for Vechain
So today I opened up binanace to find that the key had gone bananas.
This was super exciting for me, but not for the reason you expect.
With the current supply and starting price this was prime bait for those who like to have large amounts of coin for cheap no matter the supply. This has proven to be very effective in getting people to buy large amounts and push up the price. Why? Because everyone is hunting the next ripple moon shot and hoping it goes to $1. This leads to wild price action.
So here we have Vechain. Current sitting at $2.65 and just initiated their mainnet. Along with this mainnet comes a 100:1 swap. That mean for every 1 Ven you have you will receive 100 vet. This increases the supply by 100x but also cuts the price by 100 as well.
Well you ask why would I want this? Well psychologically buyers will now see this coin as cheap, and rush to buy as many as they can pushing the price upward. Add in the fact that they are a legitimate company and you have a recipe for moon in a bottle.
These next coming months will be interesting as the bulls return and folk have extra money to spend. So keep a close eye on it.
If anyone is looking for a space to talk Vechain/crypto. Check out this telegram
I am a simple man I see Ripple and I make a comment on how it sucks :)
Anyways I feel like the newer cryptos don't worry about supply and make it so large. One way it good but I feel like we are going back to the days of no set amount...
It starts off as controlled inflation then to random inflation to high inflation-just watch I feel like it going to happen.
And this is why we can't replace bitcoin. The less a coin HF the more of the original the coin is... And the more trust you know that it will stay the same..
But I got some Vechain now pump it-newbies-I want to buy more steem :)
Very well said.
Got my lil stack of VeChain that I’ve been adding to. Looking forward to seeing what it does in a healthy market being so low one that split happens
Glad you do and I expect to make some solid moves, going to be a fun ride for sure.
Now I have seen your posts on holding and so on. Seems you trade and are more active than hold. Would that be something that you have always done or learned along the way?
I definitely learned along the way, lots of studying and luck. The crypto market is more psychology then anything though.
Yeah you definitely have to have a strong mind to deal with it all.
I think you're dead on. To me, Vechain is the best in its category, so I truly think this will only help them grow. Great psych assessment.
I appreciate t unt friend.
Strange this is: mainnet launched, Vechain didn't really move in a special way. Just moved like most cryptos today.
Mainnet no longer carries that effect. actually coins usually dump.
Yeah, I think Vechain didn't dump because there was no pump right before the mainnet launch because of the bear market.
You’re right mate
@crypto2crypto is that really good vechain? What we have to buy when every thing is go down. When bitcoin will pump. All negative thing in the market.
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This is a good signal buying Ripple because at this moment dealing in Ripple can bring profit. As there is large supply and market cap is far better than anything else, even the Inflation rate is controlled now.
@manishsingh9 is that all our assumption. So market is more negative one by one. So no one can say that ALT coin will go in bullish run.