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Vechain Price Prediction — Experts Take, Bullish Technical Outlook And Partnerships That Could See Coin Triple in 2019

· in Analysis
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi

[Updated September 15, 2019] Vechain has had a busy few months, following its mainnet launch on the first day of September 2018. Below we’ll detail updates that the enterprise blockchain platform has announced and where its price could be heading before the end of the year. If you want more information on the three partnerships that we think Vechain investors should know about, check that out here.

China, the world’s largest emitter of greenhouse gases, has recently stepped up its efforts to implement and roll out a system to reduce its emission. This is known as their Carbon Bank Project. Its aim is to tackle the issue of Climate change reducing emission and promoting renewable energy.

The scope of China’s Carbon Project runs very deep, it covers aspects such as the Chinese emission trading scheme and implementing this into its Carbon Trading market. This market is very lucrative and twice as big as the European Emissions Trading Scheme.

Think of the emission trading scheme as a marketplace where companies, businesses, or enterprises can buy or sell carbon credits to each other. In 2017, the average price per ton of Carbon in China ranged between $3-10 within the 7 pilot cities comprising of 3000 emitters approximating to $680 million in total transactions.

In the midst of this program, last September Vechain announced its partnership with BYD,  China’s largest electric vehicle manufacturers. The partnership is aimed to tackle carbon emission imbalances, for one.  This will be the very first enterprise-level application, with data from millions of cars, buses, and trains this information will be put onto VechainThor’s blockchain platform.

Also, China is very bullish on blockchain technology, this is evidenced by them being the number one leader in blockchain patents applications filed in 2017 and it’s not going to stop there.

Experts’ Opinion On Why Vechain Will Rise

You should watch out for what crypto expert says about your favorite coin’s future price. Even though their predictions may not be exact, they certainly impact the market. Let’s take a look at some expert opinions on VeChain’s future price.

According to Roger Ver, also referred to as “Bitcoin Jesus,” and one of the most influential voices in the crypto sector, VeChain has a bright future. He argues that the platform’s primary mission is to solve real-world problems and has applications serving many industries. Ver stated that, as much as he is interested in the blockchain that enables a permissionless peer to peer digital cash system, VeChain has some exciting ways of using them to stop counterfeit goods and make P2P permissionless markets more trustworthy.

Tim Draper, a Silicon Valley legend, a renowned investor in many companies, as well as a big believer in digital currencies, joined the VeChain team early last year. This move was lauded by the VeChain foundation, who stated that Draper and the platform has a similar vision as regards to the future of cryptocurrencies and blockchain solutions.

Vechain Price News

Since Vechain’s mainnet went live on June 30th last year, and with token swaps completed in early September, the price is currently sitting at around $0.0037 with a market cap of $206 million after a 1.75% change over the past 24 hours. The price prediction and outlook for the next 3 to 6 months will be based on a conservative approach—but anything can happen with cryptocurrencies and major price movements can happen at any point in time, like how Ripple in late last September went from $0.32 USD to $0.69 USD in just a few days.

Based on factors considered, our price prediction for Vechain will be from $0.015 to $0.028.

This is due to the factors explained below, including the price of THOR (VTHO) tokens and its use and Transactions on the VechainThor platform.

The Effect of Vechain THOR on VET Price

Ultimately, many believe that the value of the VET token will come down to the value of THOR it produces. So what is the value of THOR? Well, we know that the minimum production rate is going to be .00042 THOR per VET per day, but how much is 1 THOR worth?

We’re not quite sure yet. There hasn’t been much THOR price action in the first two months because volume has been low. Many seem wanting to hold their THOR until volume appears to increase price.

Also, the only place it’s available to trade is on the LBANK exchange. This will all change in the coming months once OceanEX trading platform comes live at the end of October.

OceanEx will be running of VechainThors blockchain platform and holders will have the ability to convert or reinvest VTHO straight into VET and thus increasing the VET price.

Demand for THOR will also increase once Vechain’s enterprise partners start using the blockchain. Everyone for this moment as the project really “comes to life”.

Most of the enterprises are currently on test net running testing transactions, but this will soon change. We are expecting a migration over to main net soon where we will see an increasing number of transaction and smart contracts to occur before the year ends. Transactions can be monitored on Veforge.

More Transactions Coming Means More VET Price Pressure

The more transactions and smart contracts on the chain mean more VTHO will be burned. These transactions require VTHO to be used and burned.

As more VTHO is burned, enterprises will need to go on the market to buy more VTHO in order to execute blockchain writing. This would thus increase the value of VTHO. If an enterprise doesn’t want to go this route, it could buy VET and produce its own THOR; a move which should see a price increase in the native coin (VET), still boosting the value of holders.

While all of this happens, Vechain is currently in talks with the Chinese government to create a new carbon ecosystem—this time with multiple participants (large enterprises) that could. take part. This would be even bigger than BYD’s Carbon Credit application for electric vehicles. Vechain could find itself as the primary blockchain for an entire ecosystem of the “tracked” economy within Chinese initiatives.

Vechain Collaboration With Amazon Web Services

On February 18 VeChain announced that it had partnered with Amazon in a move that will see the network of the cryptocurrency grow and also boost its price in the next few months. The blockchain has launched an integrated one-click solution into the Amazon Web Services cloud that will allow many enterprises to deploy quick, compliant and secure blockchain applications.

The integration will be through VeChain’s Blockchain as a Service (BaaS) which was launched in 2016. The platform combines many different solutions including identify verification, NFC+RFID chips, enterprise IT services, and blockchain encryption all of which are used to offer a complete IT solution.

The BaaS platform will now allow different businesses to build up and use their own blockchain applications even if they don’t have any technicality. It will be easier for companies to run their smart contracts on the cloud.

With the one-click solution, VeChain’s BaaS solution will utilize the AWS CloudFormation and enable customers to deploy just one click. This will help eliminate the cumbersome manual deployment that is associated with the emerging industry.

The new collaboration was met with excitement among the VeChain community and as of the time of writing VeChain has gained 16% over the past 24 hours. This positive momentum is expected to continue over the next few months as VeChain establishes itself as the number one blockchain platform.

VeChain Works With Walmart China To Power A Food Safety Platform

Walmart China has recently announced a new VeChain powered food traceability platform. The goal is to provide consumers with the possibility to have more information about the quality of the food they are buying. 

Users will be able to scan the QR code from different products sold in China and understand how they have been produced. 

Liu Xiaoen, Chief Purchasing Officer of Wal-Mart China, commented:

“Wal-Mart has always been committed to becoming a retailer trusted by consumers. In the 23 years since entering China, Wal-Mart has continuously strived to improve food safety and quality management. Blockchain technology will help Wal-Mart become a leader in commodity retrospective management in the retail industry.”

With this new traceability system, it will be possible to see traceable fresh meat account for 50% of the total sales of packaged fresh meat, vegetables will account for 40% of the total sales for packaged vegetables. Furthermore, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020. 

This is very important for VeChain holders that are trying to understand how the digital currency is going to behave in the future. As per VeChain Insider, the recent increase in transactions on the VeChainThor blockchain can be related to Walmart going live on-chain with 23 different products. 

All the transactions will require VTHO that is generated by VET. There are 37 million VTHO generated each day. More than 20 million VTHO are also burned every single day. In the future, the number of transactions could grow since Walmart is expected to scale the platform by another 100 product lines. 

It is worth mentioning that this is going to be just one of the partners of VeChain. As the product shows positive results in Walmart China, there may be new interested parties in improving their solutions by implementing blockchain technology through VeChain. 

According to the team behind VeChain, there could be over 2 million daily transactions with the help of Walmart China. This would make VeChainThor a bigger network than Bitcoin (BTC) and Ethereum (ETH) combined. 

There are also other companies around the world that are already using blockchain technology in order to track different products in supermarkets. This is very positive for individuals that would be able to have more information regarding the products they purchase in different retail stores in different countries. 

Fundamentals are very important for a cryptocurrency network. During periods of weak growth or a bear market, it is very important for crypto and blockchain projects to remain active improving the solutions they offer to individuals. VeChain continues to expand in the market. Since the beginning of August, the number of accounts with more than 1 VET grew by almost 4%. 

It will be very important for companies to embrace VeChainThor and improve the products and services offered. This is going to help increase adoption of VeChain and help increase the price of the VET digital asset. More partnerships and agreements with firms are going to be very bullish for the long-term price of this digital asset.  

Technical Outlook

VET Is Ready To Take Off

VETBTC is ready to take off. Great R/R trade. by TheDinoChart on TradingView.com

Below the analyst explains a few reasons why we should enter this long trade. He illustrates two strategies with targets, stop losses, and entry price.

Reasons to enter

1. Massive Falling Wedge on the weekly and VET at the bottom of its boundaries.

2. Double bottom on support retest on Daily.

3. Two bullish RSI divergences on Daily. Bears are losing steam.

4. Selling volume is decreasing.

5. Excellent R/R for long term investment.

Strategy 1

Long after we break 0.00000042 (on a retest of support) and put stop at 0.00000034

Wonderful Risk/Reward Ratio = 10.13 or 14.38 or 27.63

Entry: around 0.00000042

Stop loss: 0.00000034

Target 1: 0.00000123

Target 2: 0.00000158

Target 3: 0.00000262

Strategy 2

Long right now at 0.00000036 and put the stop at 0.00000032 (more risky, but more rewardable).

Wonderful Risk/Reward Ratio = 21.25 or 30 or 56.75

Entry: around 0.00000036

Stop loss: 0.00000032

Target 1: 0.00000123

Target 2: 0.00000158

Target 3: 0.00000262

The analyst also advises that you should take initial BTC entry value as your profit at Target 1. And let the rest run risk-free towards Target 2 or Target 3.

VET Ready To Bounce Back

VET downward wedge. First target + 60% by SpartaBTC on TradingView.com

After breaking through the horizontal channel that existed for about seven months, the analyst says that VET formed a downtrend that has lived for more than three months. 

It’s a falling wedge that could become a reversal pattern. The first target on the figure + 60%. Further on the situation, the price on the pump can reach the previous support of the horizontal channel, which has now become resistance.

So you should sell in pieces at key levels. All goals are indicated on the chart. Also, according to the analyst, avoid being greedy. It’s better to get a little profit often than to expect a lot which may never materialize. The price may go down to the designated zone (purple zone). Use Stop Loss, depending on your strategy.

Potential 120% Return For VET

VET (Vechain) 120% Profit Potential..!! by Faibik on TradingView.com

The analyst says that Vechain has been in a downtrend since April 2. However, it now seems to have bottomed out. 

So far, the MACD & RSI Both Are Turning Bullish. And the analyst believes this represents the perfect opportunity for midterm accumulation. 

Faibik expects a120% profit for the midterm.

The analyst has set his targets at:

Buy Around 40 – 45 Sats

Sell Targets 82 – 105 Sats

Stop Loss According to Your Risk.

Hold Timeframe: 3-4 Weeks

Want to trade for Vechain’s VET token? You can do so with ETH, BTC, or BNB on the Binance exchange. 

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