Vet Price Primed For Long-term Bullish Breakout As It Continues To Make Waves In The Space, A Rise Above $1 Is Imminent

The VeChain mainnet has attracted a lot of attention since after the VeChain token swap. VeChain news since then has been mainly about VeChain partnerships and positive VeChain Thor price predictions. VeChain has gradually become one of the most successfully blockchains and the VET coin is now one of the most promising altcoins. Throughout the month of April, VeChain did remarkably well. The price action was bullish but became bearish short-term because of the pressure in the market. Even at that, the VET coin price has been able to retain the some of the gains it made during the first week of April when the bulls came back and analyst declared the cryptocurrency winter over.

VeChain Thor Price Prediction – VeChain VET Price – VeChain News – What Was April Like For VeChain?

April is a special month for VeChain because of the VeChain Summit. Anticipation ahead of the VeChain Summit 2019 supported the VET price. After the summit, the VET coin price has also been supported by the new VeChain partnerships and other developments that were unveiled during the summit. For starters, Sunny Lu, the founder of VeChain announced the launch of ToolChain. ToolChain is a developer tool box by VeChain. It is meant to help businesses build on the VeChain blockchain without any tech support.

Still during the VeChain summit, a partnership between VeChain and BMW was revealed. While we all already knew that VeChain has been working with BMW since last year, they have taken the partnership to another level. You see BMW has launched a service on the VeChain blockchain called VerifyCar. VerifyCar is a decentralized application that will put an end to things like mileage fraud and secondhand sale scams. With the application, users can monitor their maintenance history and odometer.

Also, VeChain managed to snatch another one of the Big Four professional services firm in the world, Deloitte, from Ethereum. Deloitte announced that they have decided to migrate from Ethereum to VeChain because VeChain is more scalable and more tailored to their needs than Ethereum. This move is a big deal and it has given the VeChain mainnet an extra layer of credibility.

VET Price Now And In The Future VeChainThor Price Prediction 2019 – VeChain News

The VeChain technical analysis was also bullish throughout April. Even if the price fell along with the wider market a few times, it still did relatively well overall. At the time of writing, the VET price was up by $0.006411. This means that it is up by 1.33% against the USD and up by 1.35% against the price of BTC. The trading volume over a 24 hour period is $14,718,612 and the market capitalization is $355,523,263. The relative strength index is leaving the oversold region slowly.

The VeChain price now has a golden cross and this is a bullish indicator. It shows that more gains are on the way. Before the end of the year 2019, the VeChain price may be as high as $1. The VeChain news and market fundamentals are already in place. The only thing that may hinder VeChain from rising to the $1 level is bearish pressure in the wider market.

What do you think about the VET price prediction in the VeChain news today? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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