Altcoin
A leading analyst predicts a huge increase in the price of this cryptocurrency
According to crypto analyst Michael van de Pope, Polkadot (DOT) is poised for a significant price increase, potentially doubling its value.
Van de Pope attributes this potential upside to major networking developments, including the upcoming release of Polkadot 2.0 and the Join-Accumulate Machine (JAM) white paper.
#polka dot he has had a retest at the crucial levels and is slowly waking up.
Given the Polkadot 2.0 version, the JAM whitepaper and correlation with $ETHI expect a lot from them.
The next target is probably $18. pic.twitter.com/DMRRiaQoke
– Michaël van de Poppe (@CryptoMichNL) May 21, 2024
It also suggests that the correlation of Polka dot с Ethereum (ETH) could raise its price further, with a next target of $18.
Polkadot has risen more than 4% in the past 24 hours and is trading at $7.14 as of this writing. Van de Pope believes that the broader altcoin market has completed the correction phase and is now poised for an uptrend, potentially reaching new highs.
The next all-time highs could be around 60%-70% above current levels. He expects Ethereum to reach these highs in the next two to four months.
Although he remains optimistic about it Bitcoin (BTC)Van de Pope expects a retest of the $68,000 level on the 12-hour chart before resuming its bullish trajectory.
However, it suggests that altcoins could outperform Bitcoin in the coming months, as many are currently undervalued relative to BTC, representing potential growth opportunities.
