We will discuss the VeChain cryptocurrency, its rising price and how high it can rise. Don't leave in a hurry, because we will provide you with some exciting professional tips. Welcome to the "money party". Click the "Subscribe" button and open more notifications! After the boom in cryptocurrency in 2017, the market was flooded with Altcoins. But few projects succeed and stand out-VeChain is one of them. VeChain is a relatively new blockchain project that started in 2015 . The goal is to use the VeChainThor blockchain protocol to build a solution to the supply chain field The actual problem item. In the past few years, multiple applications have been built using this blockchain. VeVote, VeChain token and OceanEx Exchange are the most popular tools. VeChain's prices have performed well in the past few months. This year alone, it has grown by more than 80%, making the total market value More than 2.2 billion US dollars. This makes it the 19th largest digital currency in the world.
In the past 12 months, the currency has risen by more than 480%, making it one of the best performing currencies . VeChain does not have an official roadmap yet, the only information you can find on its website It is reserved for the "VeChain Ecosystem Expansion" in 2021. The foundation wrote, The New Year’s mission is “to grow transactions through business value and establish Infrastructure services around the VeChainThor blockchain to promote mass adoption. " VeChain will focus on enterprise applications and dApps used in actual business activities. The Vechain Foundation intends to provide SDK, developer documentation, tools and Smart contract templates and turnkey package templates. These can be used for tokenized asset issuance, digital asset management wallet And data storage. It will also work to expand its partner network and help them become VeChain Technical expert. VET and BTC price correlation in the crypto market The vast majority of transactions that occur are between BTC and altcoin trading pairs. Since most altcoins are not paired with fiat currencies, only a few are Stablecoins such as USTD are paired, so Bitcoin is second.
Therefore, when Bitcoin is stable, it becomes the ideal base currency for buying altcoins. This is why altcoins perform well when Bitcoin is trading sideways. The measurement range of correlation is -1 to 1. A value greater than 0 indicates that the altcoin is in the same direction as the BTC price The degree of upward or downward movement in series, a value less than 0 indicates that the altcoin is in the opposite direction The degree of movement in the direction of the BTC price, so when BTC falls, altcoins will rise, and vice versa . A value of approximately 0 indicates that when the BTC price changes, the altcoin remains stable, or when the altcoin When fluctuating up and down, the BTC price remains stable. According to the correlation analysis, the BTC and VET in the last 100 days Negligible relationship . Their price correlation coefficient is 0.11, which is based on the Dynamic calculation of prices over the past 100 days. VcChain price prediction 2021. At the beginning of 2021, VET price trading At $0.020. VeChain is trading at $0.054 today, and it may continue to stay within the same range, There will be slight fluctuations until July. The price may soar to $0.06 and may continue this trend within a few months.
At the end of 2021, VET may reach $0.070. VeChain price VeChain is in development mode within 5 years to build a blockchain-based Platform, the platform is not limited to the digital world, but can also interact with the actual business ecosystem integrated. This will ensure that companies can With the help of this blockchain Control various functions. If it can provide a blockchain-based platform with the actual business world Fully integrated, then it will be easier for companies to use blockchain. By 2025, VeChain may reach US$0.1. VET price market prediction There are many crypto enthusiasts, They expressed their thoughts on the price forecast of VET. Let's take a look at some of them: 1-Smartereum is a regular release Cryptocurrency prediction website. They believe that the price of VeChain may rise to $75 by the end of 2023 2- The price of digital coins is one of the more optimistic experts, they expect the growth of VeChain This will eventually lead to a high price of $0.07471315. The company also expects a slow growth of approximately US$0.01 per year in the future. 3-Wallet Investor is a popular website that supports various cryptocurrencies Make price predictions based on technical analysis.
According to them, VeChain is expected to fall to $0.00463. This price forecast is very pessimistic and may not fall too much. 4-Mega Crypto price prediction VeChain may reach $0.258 by the end of 2021, by 2023 $0.612. 5 at the end of the year -Cryptoground predicts that VET may reach $4.10 by 2021. There may be multiple factors that affect the price of cryptocurrencies. In addition to the VeChain price prediction, I will also show you Factors that may have a positive impact on the future of VeChain Negative factors. Let's take a look at the reasons why VeChain might be a good investment. Partnership in the real world One of the most promising things about VeChain Yes, it has established strong partnerships with many well-known organizations. It is helping VeChain create and test solutions that can solve real problems. Some of the names in the growing list of partners include PWC, DNV GL, China Unicom and China The government's national partner. This is one of the single most important reasons for the success of any cryptocurrency. If VeChain successfully uses these partnerships to develop market-oriented products, Then it has broad prospects.
Diversified VeChain began to serve the supply chain industry Develop solutions based on blockchain. The team realized that VeChain’s solutions could be applied to many other industries, so they Solutions are currently being developed for many industries. As mentioned earlier, VeChain now provides a platform similar to Ethereum for the development of decentralization Applications (DApps). As we all know, VeChain Thor will become a new blockchain, on which VeChain Thor (VET) will be used Token. Therefore, VeChain is currently targeting a larger market, so there is a lot of room for growth. Click the "Subscribe" button to get more information! Decentralization is criticizing many cryptocurrencies (BCH, Ripple, etc.) In an era that encourages centralization, VeChain is decentralized in every sense . It not only has offices around the world, but also has a network of 111 nodes, Distributed in many countries such as Britain, Germany, Japan, China and South Korea. In my opinion, many key things are benefiting VeChain.
If it can be successfully implemented in accordance with the roadmap, it will be a good investment. Although VeChain may be older than other cryptocurrencies, it is still in the early stages of development. You now know the different sources and methods for developing cryptocurrency price predictions . I have shared with you VeChain's average price forecast for 2021, and Long-term forecasts such as VeChain's 2021 price forecast. You also know that the opportunities and challenges ahead of VeChain will affect its future.
VeChain (VET) Price Technical Analysis The price of Vechain soared to the new ATH on 21/02/21 ( The highest in history), reaching $0.606 on the Binance exchange. After the new ATH, there is a small retracement, and then try to break through the ATH Resistance level, but failed to break through on 19/02/21, and was under tremendous selling pressure at these price levels , Then fell further, and fell sharply after that. Reached on April 23 on 21/02/21 The 50 SMA low on the daily chart is $0.0341. The downward pressure encountered a strong rebound, that is, the 50 SMA was on 24/02/21 of the day The recovery to the 38.20% Fibonacci retracement level indicates that the bulls are still in the market.
As of the past three days, the price has been at the 38.20% Fibonacci retracement level and 23.60% Consolidation within a small range. It should also be noted that there were two price tests that fell below the 50 MA and failed twice. This Indicates strong bullish pressure, and there are bullish signs that the bulls continue to push the current The price will test ATH again, and the possible new ATH will be set at the same time This is the 127.20% Fibonacci retracement level of $0.0702.
In addition, the 200 SMA has been tested 3 times on the 4H chart and failed to break through The level. Vechain is in the ideal area to repurchase ATH. Daily chart The stochastic indicator on the shows that the market is extremely oversold, so Vet is expected to push 55% of the price back to ATH Level, further pushing up the Fibonacci level of 74% to 127.20%, and may be in the coming days to weeks in March Set a new ATH. Basic knowledge is very useful for this project, we are very bullish, you can see EOY The target price is between 2 and 5 dollars. Buy zone 1 at the 23.60% Fibonacci retracement level to get the perfect sniper entry. Please wait patiently to enter any confirmation before purchase. Now, let us examine the factors that may lead to bad investments in VeChain.
Competition last year, the cryptocurrency market Vigorous development has become the basis of fierce competition. Like other companies, VeChain also faces fierce competition from existing and upcoming projects. It needs to compete with the upcoming project Waltonchain, which is also aimed at the supply chain Domain. Moreover, now entering the same field as Ethereum, the competition will be more intense : Vechain Thor will have to compete with companies like Ethereum, Cardano and NEO. Work in progress VeChain is working with Vechain Thor Enter the field of smart contracts, but it is still under development. The future of VeChain highly depends on whether Vechain Thor can be successfully developed as Products that can compete with other available solutions. The biggest advantage of VeChain is that it has many real-world partnerships and applications One of the few cryptocurrencies.
On the other hand, VeChain still needs to prove the success of VeChainThor. Please remember that we are not a licensed financial advisor. All videos on this channel are for entertainment purposes only, since the video was made , The price may have changed. What do we expect from Vechain in the future? Will Vechain's price surge or plummet in 2021? Tell us what you think in the comments section below and let us have a conversation. Thank you very much for watching. Don't forget to like this video and click the subscribe button below. Whenever we post amazing content, please turn on the notification to get notified. We will see you in the next video..