Michaël van de Poppe: ‘This cryptocurrency can rise more than 100%’

If we can believe the popular Dutch analyst Michaël van de Poppe, Polkadot is a blockchain you should invest in now. He expects that Polkadot will also get a boost from Ethereum’s upward momentum, which has subsided at the time of writing.

#Polkadot did a retest at the crucial levels and wakes up slowly.

Given their Polkadot 2.0 release and the JAM whitepaper & the correlation with $ETHI’m expecting a lot from them.

Next target is likely $18. pic.twitter.com/DMRRiaQoke

— Michaël van de Poppe (@CryptoMichNL) May 21, 2024

Polkadot wakes up slowly

According to Van de Poppe, Polkadot is slowly waking up and starting to retest crucial levels. “Given the 2.0 release of Polkadot and the JAM (Join-Accumulate Machine) white paper and the correlation with Ethereum, I expect a lot from them. The next target is probably $18,” said Van de Poppe.

At the time of writing, Polkadot is trading at $7.12 and is down 5.41% over the past 24 hours. In that respect, the project has seen better days.

However, Van de Poppe is confident in it, just like in the rest of the altcoin market. It is not without reason that he recently said that he had sold all his Bitcoin for altcoins.

Bullish phase for altcoins

After a period of corrections, Van de Poppe now expects a bullish phase for atlcoins. “The market cap for altcoins has completed its correction. The next step: reaching an all-time high that is 60-70% away from here.

I think Ethereum will be at that level in two to four months,” said Van de Poppe.

So in that respect we will have to be patient for a while. It is striking that Van de Poppe expects Ethereum to perform better than Bitcoin.

The #Altcoins are still heavily undervalued.

Most of them are down 70% against Bitcoin.

That doesn’t mean we shouldn’t be having any correction, but feeling FOMO here is the wrong emotion to have.

In the coming months, I expect altcoins to do way better.

— Michaël van de Poppe (@CryptoMichNL) May 21, 2024

Not just Ethereum. He predicts this for the general altcoin market. According to the analyst, altcoins lost an average of 70% against Bitcoin. This does not guarantee a correction, but FOMO is the wrong emotion to feel here.

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