thecryptobasic.com
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.