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Vechain Price Prediction: Where Will Vechain Go After Today's Crypto Crash?
The blockchain hasn't been able to catch a break lately, which has caused the most damage to VeChain (CCC:VET-USD) as much as any of its cryptocurrency peers. VET-USD is trading at 11.8 cents per coin, has dropped more than 25% over the past 24 hours. Its offshoot coin VeThor (CCC:VTHO-USD) is likewise down 19% in the past 24 hours.
A concept token for VeChain (VET).
VeChain is a blockchain for supply and logistics designed for businesses, allows them to track inventory from conception to point-of sale. In the past 24 hours, the trading volumes for VET-USD and VTHO-USD have increased by 125% and 122%, respectively.
If you've been living under a rock and aren't from the Web perhaps you've observed that cryptocurrency isn't performing as hot. The announcement that China has imposed a severe restriction on the use of cryptocurrency in China was the trigger for Wednesday's dramatic drop. While China's anti-cryptocurrency position is old news, the announcement by government financial watchdogs appeared to indicate an entirely new and more intense period of regulation.
Some of VET strategic partners such as National Research Consulting Center and Yida China Holdings, are located in China. In addition certain agreements are with Chinese government-owned enterprises, such as Direct Imported Goods and China Unicom, or even the Chinese government itself, as in the case of Gui'an New Area, an economic development zone.
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The partnerships were formed in 2017 and. But, they do suggest some disagreement among different divisions of China's government regarding blockchain-based assets. In contrast, U.S. Treasury Secretary Janet Yellen has been a frequent critic of cryptocurrency however, it hasn't resulted in much of a change in business practices for cryptocurrencies in the U.S.
Tuesday's news from Beijing exacerbated the bearishness last week in blockchain. CEO Elon Musk tweeted that Tesla will no longer accept Bitcoin transactions (CCC:BTC–USD) due to environmental concerns. The markets reacted, and there was an increase in interest in greener cryptocurrency.
Generally speaking, investors are wondering if the cryptocurrency bubble has finally burst; unsurprisingly most would say no. VET-USD is currently trading at 12 cents. Where will it go in the future? Here are some Vechain price prediction.
VeChain (VET–USD) Price Predictions
Yesterday, FXStreet said that a dip under 14 cents would put bears in control for VeChain. Analysts believe that the downward trend could see the price drop down to 7 cents. This could then be a solid support level.
Crypto News Z has a VeChain price forecast of 25-30 cents at the end of 2021 and 65 cents in the final quarter of 2025.
LongForecast forecasts that VETUSD will rise to 19 cents at the end of this year and to 41 cents by 2025.
Coinpedia reports that VeChain will surge as high as 70 to 80 cents at the end of 2022.
Coin Price Forecast has an VET price prediction of 59 cents by the close of 2021. $1.36 at the end of 2022 and $3.50 at the close of 2030.
Wallet Investor says VeChain will be at 36 cents by the this year's close and $1.15 in five years' time.
The Digital Coin Price predicts a price prediction for VeChain (VET–USD) of 18 and 35 cents in 2021 and 2025.
Vivian Medithi had no positions directly or indirectly or indirectly, in any of the securities mentioned in this piece at the time of publication.
The article VeChain Price Predictions: VeChain to Go after today's Crypto Crash InvestorPlace was the first publication to make this piece.
Creation date: Jul 11, 2021 10:48pm Last modified date: Jul 11, 2021 10:48pm Last visit date: Nov 16, 2024 3:41pm
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Jan 26, 2022 ( 1 comment )
1/26/2022
1:55pm
Ivory Howard (ivoryhoward): edited 2/3/2022 2:07pm
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