VeChain is one of the best-performing cryptocurrencies this month, having increased nearly 75% in the past 30 days. VET has brought significant profits to investors who participated in the altcoin earlier this year.
The supply chain-based cryptocurrency is currently trading at $0.04 and is showing bullish sentiment on the chart. The top altcoin has maintained its green streak for 5 consecutive days despite Bitcoin and the overall cryptocurrency market cooling down.
Now that VET has surged 75% in 30 days, will the cryptocurrency bring similar profits in March? In this article, we will highlight if VeChain is a good investment for this month and if it can provide good returns for investors.
VeChain: Should You Buy VET Cryptocurrency in March 2024?
Leading price and metrics provider CoinCodex still maintains a bearish outlook for VeChain in the remaining time of March 2024. According to price predictions, VET may undergo a downward trajectory leading to losses for investors. Although the losses may not be too severe, they can be in the single digits.
VeChain’s price forecast is aiming for a loss ranging from 2% to 8% in the coming weeks. Although VET may hold steady at $0.04, the decimal figures can change rapidly this month.
VeChain may reach at least $0.044829 by mid-March, according to price predictions. Therefore, it is advisable to invest in other cryptocurrencies at this point as the price surge is causing altcoins to bring double-digit profits. Currently, you should do thorough research before taking a position in VET as all indicators suggest a price decrease.
At the time of writing, VeChain is trading at $0.04 and has increased nearly 1.5% in 24-hour trading. However, VET has declined by nearly 84% from its all-time high of $0.28 achieved in April 2021.
