VeChain (VET) Price Forecast for Early December 2023

• VeChain (VET) Performance and Projections for 2023
• Early December Price Prediction for VeChain (VET)
• VeChain (VET) Projections from Other Platforms
• Future Outlook for VeChain (VET)

VeChain (VET) Performance and Projections for 2023

In 2023, VeChain (VET) made significant strides. The token's price rose by approximately 37.5% since January. In recent analysis, VET surged 3.6% on the daily charts, and by 7.9% over the prior week. Additionally, the altcoin has increased by 3.2% in the 14-day charts and 13.6% in the last month. However, VeChain VET's price experienced a dip in mid-November, which was rapidly recovered in the following days, leading to revised price expectations. This dip was potentially influenced by the release of the US Consumer Price Index (CPI) data, affecting many crypto projects including Bitcoin$42,260 -0.64% (BTC) and Ethereum$2,315 -2.42% (ETH).

Early December Price Prediction for VeChain (VET)

The machine learning algorithm at PricePredictions has a bearish outlook for VET in December. According to their predictions, VET could fall to $0.02068 by December 6, 2023, representing a drop of around 4.3% from current price levels. Moreover, PricePredictions anticipates a continuous decline in VET throughout December.

VeChain (VET) Projections from Other Platforms

According to CoinCodex, similar bearish sentiments are expected for VeChain (VET). They predict VET's price could fall to $0.01980 by December 7, 2023, which translates to a fall of about 8.4% from current levels. Despite this, analysts at CoinCodex anticipate a rebound in VET's price later in December.

Contrarily, Changelly expects a more bullish outcome for VET, with predictions for the altcoin to trade between $0.02220 and $0.02410 for most of December.

Future Outlook for VeChain (VET)

Supporters and investors of VeChain (VET) are optimistic about the project's potential impact and growth. VeChain has launched several environmental and climate initiatives and, given the current global focus on climate change, this could result in a surge in popularity. Besides this, VET has also formed partnerships with a variety of global firms, including Amazon, further bolstering its potential for success.

Edited by Jonathan Stoker