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We’ve provided a more precise breakdown of how an investor could make $1 million from his VeChain investment when the price of $VET hits $5 or $10.
Many crypto investors hope to become millionaires in U.S. dollars by investing in their favorite coins. Interestingly, several experts consider VeChain ($VET) an altcoin that could make this goal a reality.
This article will highlight the number of VeChain coins you need to become a millionaire when $VET hits $5 and $10, respectively.
Analysts See VeChain Hitting $2, $5, and $10
Although several altcoins have outperformed $VET in the ongoing bull run, some analysts still believe the coin has the potential to present substantial gains for investors.
Consequently, they have provided jaw-dropping predictions for $VET, with some projecting that VeChain’s price will reach a range between $2 and $10 someday.
In particular, notable crypto expert EGRAG predicted that $VET could surge 146x to $2.41. However, the market watcher did not specify when he expects $VET to achieve this target.
Interestingly, analysts at top crypto trading platform Changelly provided a more difficult prediction for VeChain. According to Changelly, VeChain would reach the $5 threshold by February 2040. Specifically, the analysts at Changelly forecasted that $VET would hit a minimum price of $5.15 in nearly 16 years from today.
According to the analysts, $VET’s price would continue to skyrocket after reaching the $5.15 level and could eventually hit $10 by May 2040. Changelly noted that VeChain would have a minimum price of $10.66 by May 2040.
Changelly’s prediction looks like an uphill battle for $VET as the coin is currently changes hands at $0.040. As a result, $VET would need to rally 12,500% from its current price to hit $5 and 25,000% to reach the price of 10.
Amount of $VET Needed to Make $1M When Token Hits $5 or $10
Notably, for an investor to sit on a $1 million when $VET price hits $5, they would need to purchase and hold 200,000 $VET tokens until the $5 price prediction plays out. Purchasing the 200,000 $VET at the current price of $0.040 would require an investment of $8,000.
Conversely, an investor would need to invest a smaller capital today to become a millionaire if $VET eventually hits $10. Here, the investor must hold 100,000 $VET tokens to achieve this feat.
To purchase 100,000 at the current price, he would need to commit a capital of $4,000 into VeChain today. Per Changelly’s prediction, investors looking to become millionaires with 100,000 $VET must wait until May 2040, when the price of a token might change hands at $10.
While this analysis might look enticing, it is imperative to note that the price projections are not certain. There is no guarantee that $VET might ever reach the $5 or $10 price levels throughout its lifetime.
Hence, caution is needed when investing in crypto assets, including $VET. Investors are advised to only commit an amount they can afford to lose, and always seek the advice of a financial expert to determine good investment decisions.