Vechain Price Prediction: Where Will Vechain Be Following Today's Crypto CrashPosted by Just Online Currency on July 12th, 2021  The blockchain isn't receiving a break recently and that has hurt VeChain (CCC-VET-USD just as other cryptocurrency peer. Currently trading around 11.8 cents, VET-USD is down more than 25% over the last 24 hours. Its offshoot coin VeThor (CCC:VTHO-USD) is down by nearly 19% in the past 24 hours. VeChain concept token (VET)VeChain is a supply and logistics blockchain designed for companies to monitor inventory from the beginning to the point of sale. In the last 24 hours, the trading volumes for VET-USD & VTHO-USD have increased 125% & 122%, respectively. If you've been living under a rock and aren't from the Web You may have noticed cryptocurrencies aren't doing so very well. The reason for Wednesday's dramatic decline was obviously announcement of a major clampdown on cryptocurrency usage in China. While China's anti-cryptocurrency stance is not new news however, the announcement by financial watchdogs seemed to signal a new phase of regulation. VeChain has strategic alliances with partners in China including the National Research Consulting Center or Yida China Holdings. In addition certain agreements are with Chinese government-owned enterprises including Direct Imported Goods and China Unicom as well as the Chinese government itself, like in the Gui'an New Area economic-development zone. 7 Industrial Stocks of High Quality to Buy NowThe partnerships were formed in 2017 and 2018. But, they do indicate that there's some discord between the various departments of China's government on blockchain-based assets. For comparison, U.S. Treasury Secretary Janet Yellen has been a frequent critic of cryptocurrency however, it hasn't led to much of a change in business practices for cryptocurrencies in the U.S. The news of Tuesday's conference in Beijing compounded last week's bearishness on blockchain following the CEO Elon Musk announced that Tesla (NASDAQ:TSLA) will not accept Bitcoin (CCC:BTC-USD) as payment because of environmental issues. In response to the market, there was an increase in demand for greener currencies. Generally, investors are wondering if the cryptocurrency bubble has burst. Unsurprisingly most would say no. Today, the price is just above 12 cents, what will VET-USD move next? Here are some VeChain price prediction. VeChain (VET-USD) Price PredictionsYesterday, FXStreet said that a dip under 14 cents would make bears more apprehensive for VeChain. Analysts believe that the downward trend could trigger the price to plunge to as low as 7c which would provide a powerful level of support. Crypto News Z predicts VeChain price, 25-30 cents at the end 2021, and 65 cents over the last quarter of 2025. LongForecast predicts VETUSD rising to 19 cents at the end of this year, and then to 41 cents by 2025. Coinpedia says that VeChain could increase to 70-80 cents by 2022. The Coin Price Forecast has a VET price prediction of 59c by 2021, .36 in 2022, and .50 by 2030. Wallet Investor says VeChain will be at 36 cents by the the end of the year and .15 in five years' time. Digital Coin Price has a VeChain (VET-USD) price prediction of 18 cents by 2021's end and 35 cents by the year 2025's close. Vivian Medithi had no positions directly or indirectly in any of the securities listed in this article as of the date of publication. The article VeChain (VET) Price Predictions: Where Will VeChain be after Today's Crypto Crash? was first published on InvestorPlace. Like it? Share it! |