Popular crypto personality Ben Armstrong has projected that VeChain (VET) has the potential to jump in ranking to become a top 10 to 20 mover among the top 100 assets.
Ben Armstrong, formerly part of the Bitboy Crypto brand, shared this take on X pas a direct response to a post from crypto educator AJ.
Armstrong said he is personally bullish on VeChain. However, he said the digital currency is one of those that should not exceed 5% to 10% of an investor’s portfolio.
The VeChain Endorsement
Notably, AJ said that as of December 30, 2023, VeChain had made its first GOLDEN CROSS on the 2-Day chart. The last time this bullish cross occurred was on June 19, 2020.
When the Vechain Vicelord speaks you better pay attention.
Personally, I am bullish on Vechain but also slightly hesitant to put it on the top end of a portfolio. It's about a 5-10% of your portfolio kind of coin. However, it does have potential to be a top 10-20 mover out of… https://t.co/1neJ0tP2Uo
— Ben Armstrong (@BenArmstrongsX) December 31, 2023
The analyst noted that when this occurred in June 2020, VET jumped by 3,062% over the next 300 days. He asserted that, should it follow a similar pattern, the token could skyrocket to $1.14 by October 25, 2024.
At the moment, VeChain changes hands at a price of $0.03432 after falling by 2.73% over the past 24 hours. The digital currency entered 2024 on a bearish note, a slump that is in line with the general market trend.
Despite this current price outlook, VeChain remains one of the top tokens on investors’ radar, considering its active developmental efforts over the past years. Considering its unique approach to network growth, top analysts believe that a surge toward the $1.6 price mark is a feasible target.
VeChain Records Predominantly Bullish Calls
VeChain has a very unique value proposition as an “enterprise-grade L1 smart contract platform.” By featuring in many research publications over the past year with active patents secured to advance its technology, the protocol, and its native token, VET has received predominantly bullish calls for the foreseeable future.
One of these projections came from a market analyst with the username “Raidenx” on X. According to him, VeChain can print a 5334% rally to $2 in a repeat of a similar trend recorded in 2021.