Should You Buy VeChain (VET) During the Ongoing Bull Run?

VeChain is among the top-performing cryptocurrencies this month as it spiked nearly 75% in the last 30 days. VET delivered handsome profits to investors who took an entry position into the altcoin early this year. The supply chain-based cryptocurrency is currently trading at the $0.04 level and is attracting bullish sentiments in the charts. The leading altcoin remains in the green for five consecutive days despite Bitcoin and the broader cryptocurrency market cooling down.

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Now that VET already spiked 75% in 30 days, will the cryptocurrency deliver similar returns in March? In this article, we will highlight if VeChain is a good investment this month that can print good profits for investors.

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VeChain: Should You Buy VET Cryptocurrency This Month in March 2024?

Leading on-chain metrics and price prediction firm CoinCodex remains to be bearish on VeChain for the rest of March 2024. According to the price prediction, VET could experience a downward trajectory leading to losses for investors. While the losses might not be too harsh, they could be inside the single-digit threshold.

The price forecast for VeChain points towards a loss between 2 to 8% in the next few weeks. Though VET could remain firmly at the $0.04 level, the decimals could change rapidly this month.

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The least VeChain could reach mid-March is $ 0.044829, according to the price prediction. Therefore, it is advised to invest in other cryptocurrencies at the moment as the bull run is leading altcoins to deliver double-digit gains. It is advised to do thorough research before taking an entry position into VET currently as all indicators point toward a price decline.

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At press time, VeChain was trading at $0.04 and is up nearly 1.5% in the 24-hours day trade. However, VET is down close to 84% from its all-time high of $0.28, which it reached in April 2021.