Predicting VeChain's Return: VET's Quest to its $0.28 Peak

Jonathan Stoker Jan 31, 2024, 01:50am 49 views

Predicting VeChain's Return: VET's Quest to its $0.28 Peak

VeChain (VET) Demonstrates Signs of Recovery Following Crypto Market Downturn

VeChain (VET) appears to be on the path to recovery after the recent sell-off in the crypto market. The token has been observed to increase by almost 3% in the daily charts and by 9% over the previous week. Furthermore, the token has grown by 18.7% since January 2023. Nevertheless, the asset is down by over 5% in the 14-day chart and 17.6% compared to the previous month.

Projections for VeChain (VET) Future

Can VeChain (VET) Surpass It's All-Time High of $0.28?

Currently, VET has fallen by almost 90% from its all-time high of $0.28, achieved in April 2021, nearly three years ago. As per Changelly's predictions, VET could reclaim its 2021 peak around January 2030, about six years from now. They also expect VET to break the $1 mark around June 2033, more than nine years from now.

Bullish Predictions for VeChain (VET)

On the other hand, Telegaon holds a more optimistic outlook on VeChain (VET) than Changelly. The platform predicts that VET could reach its all-time high in the near future, possibly as soon as 2027, approximately three years from now. Furthermore, Telegaon expects VET to cross the $1 threshold by 2029, about five years from now.

The price of VeChain (VET) is expected to run parallel with the trends in the crypto market. If a bull run occurs later this year, as anticipated by numerous analysts, VET's price could potentially spike to new highs at a faster rate than previously anticipated. BitcoinBitcoin$42,260 -0.64% (BTC) is set to undergo its next halving cycle in April this year, which could potentially trigger another bull run in the crypto market.

Potential Stagnation for VeChain (VET)

However, there remains a chance that the halving cycle may prove to be another sell the news event, which doesn't drastically affect the market. In such a case, VET's price could remain stable for a more extended period.

Edited by Jonathan Stoker

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