VeChain (VET) is at the moment outperforming the highest 10 cryptocurrencies by market cap in virtually each timeframe. The asset’s value has risen 0.7% within the every day charts, 27.5% within the weekly charts, 70% within the 14-day charts, and 85.6% over the earlier month. VET’s value has additionally elevated by 92.5% since late November 2023. Bitcoin (BTC), then again, has dipped by 3.4% within the final week and Solana (SOL) has fallen by 7.9% in the identical timeframe.
Why is Bitcoin Dipping?
BTC’s newest dip may very well be as a consequence of elevated volatility over the past week. The asset briefly fell to beneath $91,000. BTC has since recovered the $95,000 mark and will proceed to rally over the subsequent few weeks. VET, then again, has skilled some beneficial properties.
The dip could have been triggered by traders reserving income after Bitcoin (BTC) hit an all-time excessive of $99,645.39 on Nov. 22, 2024. Investors could have redirected their funds into different property, equivalent to VeChain (VET).
Can VeChain Hit $0.01 Soon?
According to CoinCodex, VET’s value could dip over the subsequent few weeks. Despite the bearish short-term outlook, the platform anticipates the asset to rally early subsequent yr. CoinCodex predicts VET will commerce at $0.077 on Feb. 15, 2025.
Changelly, then again, is barely bullish on VeChain (VET). The platform anticipates the asset to breach the 1-cent mark in December 2024. According to Changelly’s evaluation, VET may hit $0.02 in January 2024.
Many analysts anticipate Bitcoin (BTC) to breach the $100,000 mark earlier than 2025. If BTC hits $100,000 we could witness a market-wide rally. In such a state of affairs, VET’s value could skyrocket. The asset may even reclaim its all-time excessive of $0.281.
