The cryptocurrency market is witnessing a surge in funding and investor sentiment. Bitcoin (BTC) is leading the market with a 9% rally in the daily charts. The original cryptocurrency has reclaimed the $56k price point, a level last seen in late 2021. VeChain (VET) and other altcoins are following BTC’s trajectory.
VET’s price has surged by 3.2% in the daily charts, 10.8% in the weekly charts, 56.6% in the 14-day charts, and 73.5% over the previous month. Moreover, VET’s price has risen nearly 75% since February 2023.
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VeChain (VET) price prediction for March 2024
According to CoinCodex, VeChain’s (VET) price may fall to $0.046 in early March. However, the platform anticipates VET to hit $0.051 on Mar. 18, 2024, a rise of about 4.08% from current levels.
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Changelly, on the other hand, does not expect VeChain (VET) to rise above $0.05 in March, predicting a maximum price of $0.0495 for the month. However, the platform predicts VET to continue surging throughout the year, hitting $0.0720 by December. Reaching $0.0720 from current levels would translate to a growth of about 46.9%.
Telegaon predicts VET to hit a maximum price of $0.055 this year. Reaching this price point from current levels would translate to a growth of about 12.2%.
Also Read: VeChain: ChatGPT Predicts VET Price After Bitcoin Halving
However, there is a possibility that VET could surge higher than predicted, given we enter a bull run. BTC has reclaimed late-2021 levels and may continue surging throughout the year. The original cryptocurrency will also undergo its next halving cycle in April, which many consider a bullish event. Moreover, there is a possibility that the US SEC (Securities and Exchange Commission) will approve a spot Ethereum (ETH) ETF (Exchange Traded Fund) later this year, which may further accelerate market growth.
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