Experienced cryptocurrency analyst Michael van de Poppe has made a significant price increase prediction for Polkadot (DOT), which is considered a rival to Ethereum (ETH). He attributed this anticipated rise to major developments in Polkadot’s network, specifically referencing the Polkadot 2.0 version and the JAM (Join-Accumulate Machine) whitepaper. The analyst also shared his latest observations on the overall altcoin market and Bitcoin (BTC).
Expecting 2x in DOT
Van de Poppe also sees a positive correlation with Ethereum’s upward momentum contributing to DOT’s potential growth. He set a target of $18 for DOT, which is currently trading at $7.14, indicating the potential to more than double its price.
In addition to his optimistic outlook for Polkadot, Van de Poppe believes the overall altcoin market is entering a bullish phase after a correction period. He suggested that the total value of the altcoin market is ready to reach all-time highs and could potentially increase by 60% to 70% from current levels.
The analyst particularly mentioned the possibility of ETH reaching all-time highs in the next two to four months, emphasizing that altcoins have a very strong potential to outperform Bitcoin (BTC) in the short term.
Finally, commenting on Bitcoin, Van de Poppe noted that the largest cryptocurrency continues to move in an upward trend but expects the $68,000 level to be retested on the 12-hour chart before the rise continues. At the time of writing, Bitcoin is trading around $67,500 with a slight decrease in the last 24 hours. Van de Poppe emphasized that the overall trend for Bitcoin remains upward and suggested that this small pullback is part of a larger positive movement.
Issued FOMO Warning
Van de Poppe pointed out that many altcoins are still significantly undervalued, with most losing about 70% of their value against Bitcoin. Despite this, he warned against falling into the fear of missing out (FOMO) and stressed that corrections are part of the market cycle. The analyst remains confident that altcoins will perform much better in the coming months and offer significant returns to patient and strategic investors.
