Cryptocurrency Analyst Michaël van de Poppe Forecasts Over 160% Rise for Leading Ethereum Competitor, Shares Updated Bitcoin Projections

Respected crypto analyst and investor Michaël van de Poppe has forecasted that an Ethereum (ETH) competitor could potentially appreciate in value by over 100% from its current price point.

Communicating to his 685,900 followers on a social platform, Van de Poppe highlights that amidst the crypto market downturn, several assets present attractive positions, notably Polkadot (DOT).

The esteemed analyst envisages a potential surge for Polkadot by up to 164%, aiming for a target price of $17.

An examination of Van de Poppe’s chart suggests that DOT might encounter significant resistance near $9.39, succeeding an evaluation of support between $5.50 and $6.00.

Polkadot is valued at $6.45 at the moment of this report.

Addressing Bitcoin (BTC), Van de Poppe observes that the chief cryptocurrency is nearing the end of its corrective phase. He notes that Bitcoin’s current range lies between a low of approximately $36,000 to $39,000 to a high beyond $51,200, which was last observed in December 2021.

Bitcoin is presently trading at $39,890.

Switching focus to altcoins, Van de Poppe mentions there is a window for investment during the prevailing negative market sentiment and substantial corrections.

“Altcoins are experiencing a 30% – 50% pullback.

Discouragement takes hold as the authorization of spot Bitcoin ETFs is confirmed.

Bad news takes center stage.

Now is the time to build up positions.

This wonderful opportunity may be the last dip to position oneself in the market.”

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