VeChain’s price is rising for 5 days, is an all-time high in sight?

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Last Updated on 7 August 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Without being really spectacular, VeChain climbed back to the level of $0.0198 in the last five days, a jump of about 19% during this week. The level of $0.02 is back in sight.

VeChain’s MACD (Moving Average Convergence Divergence) shows a very bullish sign that, according to analysts, the currency is on its way to a new record, or is at least very close to it.

VeChain’s all-time high is still at $0.021 according to the CoinMarketCap statistics, reached on July 8 this year. This is based on the post-VEN to VET rebrand prices.

If you know that VeChain was still worth $0.001 (its all-time-low) during the black Thursday crash of 12-13 March 2020, then you realize what an incredible climb this has been.

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Australia and Asia

Earlier this year VeChain announced that it had become a member of the APAC council, a blockchain association that focuses on trading in Asia and Oceania. VeChain mainly aimed at the trade between Australia and China, which is worth billions a year in goods to track.

Thanks to the importance of Australian exports, VeChain got both a morning show on the Australian television and a mention in The Australian, the newspaper of billionaire Rupert Murdoch.

Agreements with Alibaba and an appearance in a Chinese state newspaper also created a positive atmosphere around the currency in recent months.

KN95 and Jim Cramer

Also very important this year was the fact that VeChain focused on hospitals and supplies for the pharmaceutical sector, an industry that was very important during the COVID-19 pandemic. Thanks to collaborations with a hospital chain in Cyprus and the fact that a startup in San Francisco allowed them to verify the authenticity of KN95 masks, VeChain was able to present very good media stories.

The fact that The Street, the website of the well-known CNBC journalist Jim Cramer, put VeChain on the map as crypto of the week was also very positive.

Can the VeChain price become even higher this year? We have to wait on that, but we are very curious.