VeChain’s indexes are hovering at around the $0.0033 mark on Monday, and it is largely on the defensive. VET’s price has barely increased over the past 30 days, and cryptocurrency investors are being tested.
In the first quarter of 2024, the leading cryptocurrency for supply chains has almost doubled in value. This is a result of the Bitcoin halves event. VeChain, the leading supply chain-based cryptocurrency has nearly spiked 70% in Q1 of 2024 on the heels of Bitcoin’s halving event.
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Can VET rebound from its new low and rise in the charts, bringing profits to investors now that it has reached a monthly low? This article will explain how to make money in this market. articleIn June 2024, we’ll show whether investing in VeChain was the best or worst choice.
VeChain: Is it worth buying in 2024?
![Vechain VET Waste Management](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/Should-You-Buy-VET-in-June-2024.jpg)
The leading on-chain pricing and metrics firm CoinCodex VeChain is portrayed in a negative light. VET’s forecast shows that it will continue to decline in the month of June, 2024. This could lead to more losses for its investors.
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![vechain vet price prediction june 2024](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717405344_887_Should-You-Buy-VET-in-June-2024.jpg)
![vechain vet price prediction june 2024](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717405344_887_Should-You-Buy-VET-in-June-2024.jpg)
VeChain may drop another 3% according to price predictions by June 2020. Also, all technical indicators point towards the ‘sell’ option for VET. Technical indicators show that the crypto is 70% bullish, and 30% bearish.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717405348_690_Should-You-Buy-VET-in-June-2024.jpg)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717405348_690_Should-You-Buy-VET-in-June-2024.jpg)
It is therefore not a good idea to take an investment position in VET by June 2024 as the investor could suffer losses. VeChain has more potential downside than other cryptocurrencies. It’s best to avoid taking a position in the upcoming months.
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Bitcoin traded near $69,000 Monday, and leading altcoins such as VeChain may begin to rise if Bitcoin continues its upward trend. Due to the macroeconomic situation, there is little chance of an unexpected spike in prices. You should only trade when you feel comfortable. own This month risk in June 2024.
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Source: watcher.guru