Pivx (PIVX) Overview: Privacy coin is making all the right moves at the moment

Pivx peaked on $1.35 on September 5th before going into a strong decline in the following week. The downturn bottomed out on 12th with a price of $0.7950. Pivx started recovering from there onwards in a move which peaked on the 29th. The currency reached $1.35 at this point and has since retracted to just above $1.

Pivx can be purchased for $1.09 USD (-3.60% drop in the last 24 hours)/0.00016637 BTC (-3.59% drop in the last 24 hours). This value is much lower (-92.52%) than the project’s all time high of $14.65. Daily trade volume previously peaked at 10 million on September 30th, but is currently nowhere near that. There was $561,415 USD/85.63 BTC exchanged in the last 24 hours, most of it coming from Binance (42%), Upbit (25%) and Bittrex (16%). With a market cap of $61,934,460, Pivx is currently the 93rd most valuable cryptocurrency in the world.

ForecastCity offers the following insight into Pivx technicals:

“Technical analysis:

  • PIVX/BITCOIN is in a range bound and the beginning of uptrend is expected.
  • The price is above the 21-Day WEMA which acts as a dynamic support.
  • The RSI is at 52.
  • The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.

Trading suggestion:

There is a possibility of temporary retracement to suggested support zone (0.00015960 to 0.00011000).”

Check out their complete analysis here for the graphical analysis and the suggested entry zone.

The project was quite busy in the last couple of weeks. They signed up for several major blockchain related events in order to spread the good world about Pivx and cryptocurrency in general. After presenting their ideas on Blockcrypto (Sept 25th, Sau Paulo, Brazil), Pivx lined up several new appearances which will include:

  • Malta Blockchain (Nov 1-3, Malta)
  • Web Summit (Nov 5-7th, Lisbon)
  • Provenance Summit (Seoul, Korea November 20th)

Prior to that, a smaller, more community minded meet-up has been scheduled to take place in Bogota, Colombia from October 17th-18th. Much later, in February of 2019, Pivx has a special event scheduled for its luckiest, most loyal fans. The event will be the so called Pivx Cruise 2019, and the winners of project’s raffle will be given an opportunity to attend it. The cruise is presented as a chance to develop partnerships and start conversations that will continue long after the event is over; while a noble reason to have a cruise indeed, one wonders if the same goals couldn’t have been achieved in a cheaper, land-locked setting. The event will look to give back to the community, as one randomly chosen cruise-goer will get to claim a booty of 500 PIV.

Read here how to buy bitcoins instantly with a credit card.

Pivx didn’t spend all that time organizing events. They recently released a Reddit tip bot which will help Pivx community members award quality posts with PIV currency. This will both motivate people to improve the quality of their posting as well as spread the word about the project. Another important resource for the community will be the newly-released pivxworld.com, a portal that collects information about events, ambassadors, social happenings, exchange news and general tidbits that could be of interest to an average PIV investor/enthusiast.

PIVX reached an important milestone recently, as they have managed to place over 25% of its coin supply in zPIV, thus making a quarter of its supply anonymous and ready for staking.

There is also work being done on bulletproofs, a technology that will help open up the mobile light wallet markets to PIVX and PIV staking even further.

This MIT licensed, open source, blockchain-based Proof of Stake cryptocurrency which sports an advanced custom implementation of Zero knowledge-proof Zerocoin protocol is making all the right moves at the moment. Will PIVX’s purple color scheme foreshadow it becoming a part of the crypto royalty? It remains to be seen.

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Dobrica Blagojevic
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