Ethereum
Ethereum’s main challenger could skyrocket more than 2x, says crypto analyst Michaël van de Poppe
A widely followed crypto analyst believes that an Ethereum (ETH) its competitor could more than double its price.
Crypto trader Michaël van de Poppe tell its 718,900 followers on social media platform X, this Polkadot interoperability blockchain (POINT) is poised to recover thanks to major network advancements.
He also says that DOT should also benefit from ETH’s upward momentum.
“Polkadot has retested at crucial levels and is slowly waking up. Considering their Polkadot 2.0 release and the JAM (Join-Accumulate Machine) whitepaper and the correlation with ETH, I have high expectations from them. The next target is probably $18.
Source: Michaël van de Poppe/X
Polkadot is trading at $7.14 at the time of writing, up more than 4% in the last 24 hours.
The analyst also believes the broader altcoin market enters a bullish phase after correction.
“The altcoin market capitalization has completed its correction. The next step: reaching an all-time high, about 60-70% from here. I think Ethereum will likely reach this goal in the next two to four months.
Source: Michaël van de Poppe/X
He says the others could surpass Bitcoin (BTC) In the coming months.
“Altcoins are still heavily undervalued. Most of them are down 70% against Bitcoin. This isn’t to say we shouldn’t experience any correction, but feeling fear of missing out (FOMO) here is not the right emotion to feel. In the coming months, I expect altcoins to do much better.
Finally, the analyst said he is bullish on Bitcoin but expects the crypto king to retest the $68,000 level on the 12-hour chart before continuing higher.
“Bitcoin is slowly consolidating. We expect a new test at the $68,000 mark, before continuing upward. The trend is clearly increasing.
Source: Michaël van de Poppe/X
Bitcoin is trading at $67,553 at the time of writing, down more than 2% in the last 24 hours.
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