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VeChain is Asia-based project that is expanding its IoT and supply chain focused platform through the creation of the VeChain Thor network.

VeChain Thor’s goal is to be an enterprise geared blockchain ecosystem focused on governance and ease of use. The project plans to operate a native blockchain that will enable businesses to easily use various smart contract applications. VeChain focuses primarily on exchanging and storing data through the blockchain and has run live applications in the supply chain space.

According to the company, 2018 was a phenomenal year for them despite the crypto market condition. Since it launched mainnet, it has enjoyed continuous growth in the number of transactions, mainly due to third party developers on its VeChainThor blockchain and the rise of enterprise adoption.

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They said they had witnessed a growth of mainnet transactions and due to increased enterprise adoption and third-party developers on their VeChainThor blockchain.

In April, VeChain introduced their MPP concept while in May their alpha testnet went live. They also announced partnership with Shanghai eGrid Consulting and Inpi Asia. In May they entered into collaboration with PwC Hong Kong and PwC Shanghai and DNV GL, which is one of the most fruitful partnerships they concluded to date. Almost every month of the year had one or two similar business cooperation deals announced, with companies predominantly from Asia.

Their mainnet was launched in June followed with a slew of upgrades and features geared at bootstraping their developers pool and ecosystem. In July their released their mobile wallet, which got updated several times during the year. Most significant change was the token swap where the 1 old token got you 100 new tokens and it also saw it renamed from VEN to VET.

At the end of the year, Comet went live – Comet is the MetaMask of Vechain – the most important window into the VeChain ecosystem. It will enable developers and users to communicate with the VET blockchain via Web3 framework and Connex, a Vechain developed Web3 alternative.

As for the launched projects on VeChain’s blockchain, some of the most notable ones are Plair, DecentBet, Totient, OceanEx, Safe Haven and many more.

There is no official roadmap for VeChain, the only info you can find on their website is that 2019 is reserved for “VeChain Ecosystem Expansion”.

The Foundation wrote that its mission in the New Year is to “grow the transactions with business value and build infrastructure services around the VeChainThor blockchain to facilitate mass adoption.”

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VeChain will be focusing on enterprise applications and dApps for real-world business activities.

The Foundation intends to provide SDKs, developer documentation, tools and smart contract templates along with turnkey package templates.

These could be directed towards tokenized asset issuance, digital asset management wallets, and data storage.

It will also work towards expanding its partner network and help them become experts in VeChain technology.

The downfall of altcoins that were mainstream media darlings at the start of the year, VET among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.

These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.

VET, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, VET can hope for one as well. Since that is very unlikely, don’t expect much to change for VET price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

In cases when Bitcoin plunges, it will likely:

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When Bitcoin moves sideways, it will likely:

To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will VET be among those 5%?

Good probability of that happening.

First and foremost, VeChain has built a broad and ardent community that is more educated and patient than most of other “get rich quick” altcoin’s communities where holders only discuss price in a hostile and ill-bred manner.

The Vechain Foundation is very balanced in their approach to the 3 most important dimensions of every crypto project: technology development, forging business partnerships and community fostering.

VET has a chance to be one of the first broadly used blockchains in one of the most realistic use cases for a decentralized ledger: supply chain management. All of this instills holders with justified hope that their token is worth holding through the bear dominated times.

All of this summed up means one thing: VET might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.

Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect VET will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.

With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.

Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the VeChain (VET) price, which will give us another point of view to consider:

Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, VeChain is expected to go down to $0.000001 in one year. This price prediction is very bearish pessimistic and it might not fall that much.

Trading Beasts also gave a very neutral prediction saying that by 2019 end, VeChain might be in between $0.01 to $0.02, which is a wide range, so this prediction is given neutrally, without a showcase of any optimism.

Mega Crypto price predicts that VeChain might reach $0.258 by the end of 2021 and $0.612 by the end of 2023. (VeChain Forecast)

Smartereum is a site that regularly publishes cryptocurrency predictions. They believe that the price of VeChain could go up as high as $75 by the end of 2023.

Cryptoground predicts that VeChain might reach $2.58 by the end of 2019. They even added their version of VeChain (VET) price prediction 2020, where they stated that VET might reach $4.10 by 2020.

The post VeChain (VET) Price Prediction 2019 – First Major Blockchain Success Story? appeared first on CaptainAltcoin.

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