Based on historical trends, Ali Martinez predicts that VET’s price may rise to $0.60 after a brief decline.
Following a big event in Paris, billion-dollar investors are expressing a great deal of interest in VeChain’s latest initiative, VeBetterDAO.
As a leading player in the blockchain industry, Vechain (VET) has been extremely volatile in recent days, much like the market as a whole.
VET is presently trading at $0.0407, up 9.41% in the last day but down 13.75% in the last week, according to CoinMarketCap. This wild week fits in with the general trend of the market that impacts most cryptocurrencies. Even with the latest decline, several analysts are still positive about VET’s future.
VET Price Analysis
Market analyst Ali Martinez has pointed out the similarities between VET’s performance from June to December 2020 and now.
During that time frame VET’s range prices fluctuated from $0.01 to $0.02 all the way up until April 17th of 2021, when it hit an all-time high just $0.2782 per unit. History repeats for like manner tokens predicting that if VET follows historical patterns so on the first step will be to approximately $0.032 before stepping up to also achieve $0.60.
Billionaire investors have recently shown interest in VeChain, especially in the wake of a significant Paris event that showcased its newest initiative, VeBetterDAO, as previously reported by ETHNews.
This heightened investor interest may give VeChain the impetus and funding it needs for its upcoming projects and strategic positioning in the market.
Audacious Long-Term Forecasts
Analysts have made audacious predictions for VET from a variety of angles. Expert in market analysis EGRAG Crypto has seen a triple bottom pattern on VET’s chart, indicating that the price may rise to $1.6, which would represent a 4,005% increase from its current value.
The analyst increased the price target to $1.8% last month with the expectation that VET will reach this milestone by the following year. Furthermore, by April 2040, analysts at Changelly, a cryptocurrency trading site, have even predicted that VET might hit $10.77.
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