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. 

Let’s see what’s Vechain Price Prediction for 2021? Will the VET 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 of 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

What is VeChain (VET)? 

VeChain (VET) is a blockchain-powered platform built to renovate supply chain management. Its aim is to facilitate the best resources to traders, who wish to solve real-world economic problems.  

The network owns two native tokens VET and VTHO, The goal is to boost the scalability, efficiency, and traceability of supply chains while directing more control to individual traders. 

However, the platform is unique as it aims to overthrow supply chain friction and give an appealing impression to traders.

Fundamental Analysis:

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 the VeChainThor blockchain for decentralized applications (dApps).VeChain has now established itself as a blockchain service provider for businesses in any industry. 

VeChain Foundation, a non-profit organization 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. The asset soared to a new ATH of $0.2782 in the month of April.  The altcoin hovered around the same zone for a month. Due to the Chinese market crash on May 19th, the price experienced a heavy pull back to $0.07238. 

In the month of July VeChain partnered with ReSea to prevent a thousand kilos of plastic from polluting oceans. Which took the price rally to $0.1539 on September 5th, 2021. Yet again market turmoil coming out of the Chinese market impacted the price rally to dump by 23.3%. Followed by the platform’s plan to upgrade their Proof-of-Authority (PoA) 2.0, the asset regained its bullish momentum reaching $0.1192 at the press time. 

VeChain Predictions for Q4: The price might remain stable at 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. On the flip side, if bears take control of the market or in case of failure in the upgrade could drop the price well below $0.075.

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 $0.05 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 extremely bullish trend, the price may also get much closer to $1 too.

VET 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

Walletinvestor:

Walletinvestor made a bullish prediction for VeChain. They expect up to three-digit growth prices in the upcoming years. For the year 2021, they predict that the VeChain price may reach $0.167 by the end of 2021. The coin price may nearly double and hit $0.276 in 2022. They hope that the coin price will easily surpass $0.669 by the end of 2025.

Digitalcoinprice:

A crypto prediction website has reupdated their price prediction for VET, they forecast that the price is expected to close its trading at $0.1748. In 2022-2024, an average price close to $0.2115 to $0.2445 is predicted. 

Trading Beasts:

The platform revised its forecast, they expect the VeChain price is going to reach a decent price level of $0.1327 by the end of 2021. The website predicts that the VET price will hover at an average price of $0.1562. According to their forecasts, the altcoin could soar to a maximum of $0.19828 and would flip to a minimum of $0.13483 by 2022. 

Longforecast:

According to longforecast.com, a popular economy forecast agency, the VET price will hit a $0.12  price level by the end of 2021. The website has made an extremely bullish prediction, they expect that the price will boom up to $0.25 by the end of 2022. They forecast that the VeChain price will stumble and try to consolidate around $0.21 by the end of 2023, and will hit $0.28 by the end of 2025.

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 pullback 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 their entire supply chain cycle with the help of the blockchain. This aids in the assurance of the 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.

FAQ’s