VeChain Price Prediction 2021 – Will The VET Price Hit $1 in 2021?

Today, Asia is one of the main hubs of blockchain development and some of the brightest cryptocurrency projects and VeChain is one of them.  Moreover, the native token VET has succeeded in the crypto space and also emerged as one of the good & profitable investment offlet. 

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But what can we expect from Vechain in the future?  Will the Vechain price surge or plunge in 5 years?

These are the basic queries any trader wants a proper way out. Therefore, in this article, an explanation on VeChain and its future prospects in terms of fundamental growth and price surge is covered. Hence, this piece of composition may assist you in decision making as to how best you can allocate VET in your portfolio.

Overview

Fundamental Analysis of Vechain

Founded in 2015 and launched in 2016, Vechain is a blockchain based system built to enhance supply chain management and business processes. The project was initially conceived as a supply chain management and anti-counterfeiting system based on blockchain and IoT technologies.

 In December 2017, the product was rebranded and relaunched as VeChainThor blockchain for decentralised applications (dApps).VeChain has now established itself as a blockchain service provider for businesses in any industry. 

VeChain Foundation, a non-profit organisation registered in Singapore in 2017, manages the project. The project is known for its collaboration with major companies such as Microsoft, Shanghai Gas, Walmart China, BMW Group, H&M and others. 

Further, VeChain plans to become a leading platform for initial coin offerings(ICO) and also a platform for conducting transactions between the Internet of things(IoT) and its connected devices.

Also Read: Origin Protocol Price Prediction, Will OGN Price hit $10 by 2021?

Vechain Price Prediction 2021

VeChain commenced the year with its price trading at $0.020. VeChain might reach $0.3 by the end of May. The price might remain stable around $0.3 with certain fluctuations until the mid of 2021.

As indicated by VeChain’s highly diverse partnerships, the blockchain platform sets out to bring the advantages of decentralized applications and smart contracts to a large number of different industries.By 2021, VeChain might reach $0.42 to $0.5, which may move VET upwards in the ranking order.

VeChain Price Prediction 2022

VeChain might initiate the year with the price of $0.44 and may continue to be in the same range of $0.04 with slight fluctuations until July. The price may surge to $0.5 and might continue the same trend for several months. At the end of 2022, VET might reach $0.7 to $0.8 and with an extreme bullish trend, the price may also get much closer to $1 too.

Price Prediction For The Next 5 Years

VeChain is in progress mode to build a blockchain-based platform that does not only limit itself to the digital world but also can integrate with the actual business ecosystems as well. This would ensure that enterprises would be able to control various functions with the assistance of this blockchain. 

If it is able to provide complete integration of the blockchain-based platform with the actual business world, it would be easier for the companies to use the blockchain. By 2025, VeChain might reach $5. On the contrary if the bear market flips the uptrend, then the possibility of the price plunging to as low as $0.25 to $3 rises.

Market Prediction For Vechain

1) Wallet Investor

According to Wallet Investor, VeChain is expected to trade in between $0.191 and $0.314 in the coming year. Moreover, the price is expected to hit $0.862 by the end of 2026

2) Digital Coin Price

Digital Coin Price is one of the more bullish experts expecting a VeChain growth to eventually lead to a price of $0.2855 by the end of 2021. And by the end of 2025, the price is expected to smash $0.5695.

3) Coinswitch

According to coinswitch, the VET price may reach $0.38939 by 2023 and plunge to $0.1 levels by 2025.

4) Primexbt

According to Primexbt, by the end of 2021, the price is expected to trade around $0.4. Further, the price may experience an extreme pull back which may drag the price below $0.1 in 2022-23. 

Our Vechain Predictions

VeChain (VEN) has been officially re-branded to VeChain THOR (VET) this year itself and even announced that it will be teaming up with the international car company BMW. VeChain Thor enables businesses to track their products throughout its entire supply chain cycle with the help of the blockchain. This aids in the assurance of quality and authenticity of the products.

By the end of 2021, it is expected that VET might reach $0.5, which can be regarded as an optimistic prediction, considering its current value.

Also Read: NEM Price Prediction, Will The XEM Price Hit $1 In 2021?

Historic Market Sentiments

2018

VeChain (VET) was listed on cryptocurrency exchanges in late July 2018 and traded in the range of $0.02-$0.026. However, VeChain soon broke out of that range and experienced increased volatility.

From the beginning to the middle of August, the price fell to $0.006 per VET. A rebound immediately followed the decline, hitting $0.0198 by September. Unfortunately, the rebound was temporary and was followed by a prolonged recession. By December, the price had dropped as low as $0.0033. VeChain closed the year at $0.004.

2019

In the Q1 2019, the price of VET was stuck in the $0.0036-$0.005 range. In March, the cryptocurrency was able to break out of the range and grow to $0.0079. After pulling back to $0.0056 in April, the asset continued to grow, peaking at $0.0098 in June.

VET could not hold these heights and slid down before it established support at $0.0028 in late October. As the asset found new ground, it recovered quickly and met resistance at $0.008 in November. Its first attempt to rise above this mark didn’t end well and led to a pullback to $0.0046.

The second attempt led to the same result. After running up against resistance at $0.008, VET fell to its previous support of $0.0046. The asset closed the year with a $0.0056 price per coin.

2020

From the beginning of the year, VeChain continued to grow and retested the resistance at $0.0082 in February. Unfortunately, at that point, the entire market had rapidly declined. On 13 March, VET set a new low at $0.0016 mark.

After that, the cryptocurrency started to grow slowly but surely. On 11 June, VET broke its resistance at $0.0082, and buyers pushed the price as high as $0.022 in July. A slight pullback followed to $0.0146.

After a steady pullback, VET managed to trade at $0.017 by early August. Further the price managed to be at $0.0021 by the mid August and further plunged to $0.0016 by the end of August. As bears held the market, the VeChain’s price continued to decline for several months until the end of November. Later, surged to $0.018 as the expansion of Bitcoin’s price rally and further started declining. VET continued to trade at $0.015 by early December and managed to reach $0.019 by the end of 2020.

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