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😱🚀🚀VeChain (VET) Could Increase by 116% to $0.08: Analyst Predicts
The recent decline may be due to the Iran-Israel conflict, which led to the liquidation of $ 2.5 billion. Investors may be cautious as geopolitical tensions continue. In addition, inflation in the US continues to remain above the Fed's 2% target. High inflation has weakened interest rate cut expectations and further increased investor caution. The Fed will probably pursue its high interest rate policy for a longer period of time until there is more evidence that inflation is cooling.
Despite the recent correction, #VET may witness a significant recovery. June December 2020 price movements are reflected in VET, according to crypto analyst Ali Charts. According to the analyst, the asset could return to $ 13.51, a decrease of around 0.032% from current levels.
However, Ali Charts predicts that the recent decline will set the stage for an "ongoing bull run". According to the chart shared by the analyst, VET could rise as high as $ 0.08, an increase of more than 116% from current levels.
CoinCodex also paints a bearish picture for #VeChain (VET) for the next few weeks. The platform predicts that VET will continue to trade below $0.040 until at least May 18, 2024.
However, the asset may witness a recovery after the halving of Bitcoin (BTC). Many analysts are expecting a market-wide rise following the event, given that historically BTC has always risen after a halving.
