VeChain Price Prediction and Analysis in December 2019
In todays VeChain price prediction, we will be taking into account past price trends, project achievements, and market sentiments to project what price VET might reach in December 2019.
The concept of VeChain first came about in 2015, developed by Sunny Lu and DJ Qian, but officially launched in 2018. The projects team operates from headquarters based in big cities all over the world, including Paris, Singapore, and Shanghai.
VeChain is a blockchain developed for use in the distributed business ecosystem with the aim of enhancing the supply chain management processes. In February 2018, VeChain was rebranded as VeChain Thor, as the project transitioned from the Ethereum based VEN token to VeChainThors native VET token.
The tamper-proof nature of distributed ledger technology (DLT) enables VeChain retailers and consumers to find out if their product is authentic and determine their quality as well. VET makes use of RFID and sensors to send real-time information to lawful users, such as the manufacturer or customer. VeChain employs smart contract technology in the second blockchain layer.
In the past years, the VeChain protocol has been implemented in a diversity of industries and services, such as luxury items, machine manufacturing, agriculture, logistics, and retail.
VET launched right after the crypto market boom in 2018, taking a serious dive from $0.006, but rebounding for a while to $0.02. However, VeChain did not manage to keep this price for long and then entered a prolonged correction phase.
Some speculate that missing the 2018 crypto market wave means that VET missed out in reaching its all-time high.
But in spite of not having a good head start like other cryptos, the last months of 2019 have been good to VeChain, as the coin has an accumulated growth of almost 20%, which is one of the best progress seen in other altcoins of its size.
VeChain Price Prediction: Analysis
November started at $0.0039-$0.004 values for VET, but the coin slowly started growing in the first weeks of the month, reaching $0.007719 by November 17th.
The coin maintained itself around $0.007 support levels until November 19st, then falling back to $0.0069. VeChain continued slipping, going below $0.006, and then on November 22nd, below $0.005.
On November 22nd, the coin reached its lowest of the week $0.004731 but quickly bounced back to close at $0.005199. Until November 26th, VeChain traded over $0.005, but only managed to test the $0.006 resistance limit. But on November 27th, the coin opened at $0.006365 ,and since then, it continued trading steadily at past $0.006 prices.
On December 1st, the coin reached tested $0.007 resistance levels and successfully surpassed them, as in the latter part of the day, it kept on increasing in value.
Today, December 2nd, the coin has maintained its bullish ...