PRV has been doing well lately, bouncing back from the $2-ish slump that lasted for weeks. As of writing, PRV is sitting at $7.85, a 393.5% increase from last month’s all-time low. Many have pointed out that PRV has an ATH of $77.38 per token, and now it is on its low, considering that the current price is only 9.83% from the ATH. But, we are here to tell you that there is nothing to worry about and that it is only part and parcel of every cryptocurrency project.
All cryptocurrencies started at a certain price
PRV started at $o.70, VET started at $0.025, and OKB with $4.76. At a point in time, from the starting price of VET and OKB (which is their ATH at that time), it went down to $0.0045 and $0.058, respectively. That is an 82% and 98.8 decreases for both tokens. However, these two tokens recovered and even surpassed its starting price and is now sitting at 23rd and 36th rank in terms of market cap.
We can infer from this data that there came a point in time that the prices of VET and OKB went down to a relatively low price before soaring to the price that we know now. It came to a price that when you put $1000 for each project at that moment, you would have had more or less $32,000 and $419,000, respectively, today.
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Similarly, PRV is experiencing this price dump and is still recovering from its ATL. Nevertheless, as what we have seen in VET and OKB’s ATH at its starting phase, these happen and they are normal. There’s nothing to worry about how it would affect your portfolio because, as what we have seen in the performance of the tokens mentioned above, it will soon bounce back even higher than you would expect!
Patterns in charts are essential tools in cryptocurrency. They are used to predict the price and the performance of a token over time. With PRV establishing patterns like that of OKB and VET, you can easily predict that it will also take the steps taken by its predecessors. With present technology and advanced strategies employed on PRV, compared to OKB and VET, it might even reach the peak at a much accelerated rate and will soon reach the moon.
A buying opportunity
Each token’s market correction or price dump is a pot of gold to a seasoned trader. This is because when a crypto project is loaded with upcoming or already launched projects, there is an assurance that its price will pump anytime soon.
With every market correction or price dump, prices are relatively low; thus, scalping tokens would be an excellent opportunity to get rich. These market corrections and dumps should be to look for as it does not stay that way forever. Like for the case of OKB, it went to a meager price of $0.058 per token. If you were able to secure 50,000 OKB at that price point, you would have become a crypto-millionaire by now.
The importance of hodling
Every smart and seasoned trader would always say that hodling is the best way to become successful in crypto. In this day and age, cryptocurrencies are slowly being adopted by the masses, and with you hodling tokens from the beginning, you will be set for life at the end of the day.
Moreover, while the price is still low with PRV, it is the best time to buy more and hodl. With services and projects along the way and more massive awareness campaigns being done, it won’t be long for its price to shoot up like OKB and VET.