Leading altcoin VeChain (VET) is trading around the $0.022 mark on Tuesday, up close to 4% in the day’s trade. It snapped its eight-day losing streak today and entered the greener spectrum in the charts. The latest price prediction for VET remains bullish, indicating that a double-digit spike could be on the way.
VeChain’s spike in price comes after Bitcoin hit the $70,000 mark in the indices. The overall cryptocurrency market remains green due to BTC’s bullish momentum. Bitcoin is up 5.1% today and is gearing up to breach its all-time high of $73,737.
Also Read: Dogecoin (DOGE) To Peak And Target $0.175, Expert Shares
If BTC breaches the mark, leading altcoins could also hit new monthly highs in the indices. Therefore, taking an entry position in VET could be beneficial as indicators remain bullish.
VeChain Price Prediction: VET Forecasted to Surge Double Digits in November
Source: Unsplash
Leading on-chain metrics and price prediction firm Changelly has painted a rosy picture for VeChain’s native cryptocurrency, VET. According to the latest price prediction, VET is poised to surge double-digits in November 2024. The forecast indicates that VeChain could spike 10.5% by the end of next month.
Also Read: Bitcoin Reclaims $71,000: Will BTC Hit A New Peak This Week?
Source: Changelly
That’s massive returns for 30 days in the markets. If the forecast is accurate, an investment of $1,000 could turn into $1,105. Short-term double-digit gains are rare, as not every asset delivers them regularly. If Bitcoin surges beyond its ATH next month, VeChain has more chances of going much higher in the charts.
The chances of Bitcoin surging in the indices remain high due to the upcoming US election. Several politicians have endorsed the cryptocurrency market and spoken about Bitcoin.
Blockchain technology could leverage the development, preparing leading altcoins for a leg-up. Leading altcoins like VeChain’s VET, Ripple’s XRP, Solana’s SOL, and Cardano’s ADA are all expected to surge in price next.
Also Read: Buy Cardano (ADA): November 2024 Price Prediction Reveals
