According to crypto analyst Justin Bennett, it’s an underrated altcoinhas the potential to make a 20-fold or greater move quickly in the coming months.
A strategist closely followed by the crypto community told his Twitter followers the decentralized supply chain management network VeChainof (VET) says he may be ready to see $1.60, but on one condition…
Bennett says that as long as Bitcoin (BTC) can make new highs above $65,000, VET should rally 1335 percent in the next two months. In the analyst’s view, if the cryptocurrency markets enter an extended market cycle that will last until next year, VET could reach as high as $3.00, a 2627 percent increase from current prices.
“[Benim fikrime göre] By December, over $65,000 Bitcoin = $1.60 VET.
If the December peak falls below this and the cycle continues until March 2022, VET will likely be in the $2 – $3 range.”
Bennett awaits tests of current resistance near the $0.13 and $0.14 levels in the near term. Despite these price movements, Vechain’s all-time high is at $0.28, which represents an increase of about 150 percent from the current price. According to CoinGecko, VET is trading at $0.11, up 6 percent daily at the time of writing.
“$VET looks so much better now.”
Bennett noted last month that VeChain is associated with the decentralized blockchain platform Cardano (ADA), and the two tend to make similar price movements, spaced a few weeks at a time.
The crypto analyst, who also spoke about Bitcoin, has previously said that BTC must retrace the $ 55,300 level to maintain its momentum, or it will fall to the level of 50,000-53,000. King cryptocurrency It is currently well above the $56,000 level and seems to have met Bennett’s condition, now the analyst seems to be waiting for Bitcoin to take another step.
“Absolute beast mode!”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.