The April 1 crypto bull run appears to have worn thin. The price of VeChain and a host of altcoins have been unstable in recent weeks. Bitcoin the top dog of them all hasn’t been able to maintain its bull run. The digital asset has been hovering around $5k. Tokens like VeChain had initially offered investors many prospects. Now the price of VeChain has been subject to declines leaving experts to reach the conclusion that only strategic partnerships can help the price of VeChain in the current climate.
Presently, the price of VeChain is dropping. Although the digital asset pulled in a 0.79% gain in the last 30 days.
VeChain Price Prediction: Deloitte Move Is Expected to Help the Price of VeChain
Back when the 2019 VeChain Summit was on, Deloitte made an announcement that it is going to use VeChain Thor for developing future Blockchain protocols. This made it the second among the “Big Four” accounting moguls to go into a partnership with the Singapore-based crypto startup. PricewaterhouseCoopers has already started working with VeChain in 2018 after acquiring a stake in the firm.
According to data given by CoinMarketCap, VeChain (VET) is number 25 among the largest coins in the world with an ROI of -60.40 %. The number of VET currently circulation is 55,454,734,800 VET with a market cap of $330,126,877. The price of VeChain stands at $0.005953 with a daily trade volume of $11,723,760.
VeChain Price Prediction: The Price of VeChain Has Gained 0.79% in The Last 30 Days
The price of VeChain started the year with at a low point of $0.003. It has reportedly shown many signs of sudden growth (bull runs) and fallen again in the last four months. However, the highest point was attained on April 3 at $0.0078. This was an effect of Bitcoin’s April 1 boom. As of 30 March, the market capitalization of VeChain was $327,494,250. And the price of each coin was $0.005906. VeChain’s current market capitalization is 0.80% more than what it attained on March 30. Currently, the price of VeChain has increased by 0.79% 30 days later (March 30 to April 30).
VeChain Price Prediction: The Price of VeChain Predicted to Rise By the End of May
The price of VET is falling presently. It is unclear regarding how long the price correction will take. All in all, experts predict that the price of VeChain by the end of next month. The price of VeChain will rise to $0.0075 where it will find resistance. After encountering this resistance, the road will be easier for VET. By year end, the price of VET should be $0.01 minimum. By 2020, the price of VeChain will reach $1. Do not forget that price variations will be seen withing the next 2 years.
The price of VeChain is declining presently as well as other cryptos since the general market is in the red. But for the short term investors can enjoy a profit if they hold until the next resistance that could fall after May. For the long term, the price of VET is also very bullish. Investors can look forward to a yield of as high as 300% if they hold their tokens until 2020.