Renowned cryptocurrency analyst Michaël van de Poppe predicts a significant increase in the price of Polkadot (DOT), a blockchain platform that competes with Ethereum (ETH). Van de Poppe, who has a large following on social media platform X, believes that Polkadot’s recent network advancements will drive its rally. He also expects DOT to benefit from the upward momentum of ETH. Van de Poppe points out that Polkadot has recently undergone a retest at important levels and is slowly gaining momentum. With the release of Polkadot 2.0 and the Join-Accumulate Machine (JAM) white paper, along with its correlation with ETH, Van de Poppe has high expectations for the cryptocurrency. He sets the next target for DOT at around $18.

As of writing, Polkadot is trading at $7.14, representing a more than 4% increase in the past 24 hours. In addition to his bullish outlook on Polkadot, Van de Poppe believes that the broader altcoin market is entering a bullish phase after a correction. He expects the altcoin market capitalization to reach an all-time high, which is approximately 60%-70% higher than the current level. Van de Poppe specifically mentions Ethereum, predicting that it will reach this milestone within the next two to four months.

Moreover, Van de Poppe suggests that altcoins have the potential to outperform Bitcoin in the coming months. He notes that many altcoins are currently undervalued, with significant declines of up to 70% against Bitcoin. While he acknowledges the need for corrections, he advises against the fear of missing out (FOMO) and encourages investors to consider the long-term potential of altcoins.

Turning to Bitcoin, Van de Poppe maintains a bullish stance but expects the cryptocurrency to retest the $68,000 level on the 12-hour chart before continuing its upward trajectory. He emphasizes that the overall trend for Bitcoin is upward.

At the time of writing, Bitcoin is trading at $67,553, representing a decrease of more than 2% in the past 24 hours.

In conclusion, Van de Poppe provides insights into the potential price movements of Polkadot, altcoins, and Bitcoin. While he expresses optimism for these cryptocurrencies, he advises investors to conduct thorough research and exercise caution when engaging in high-risk investments in the cryptocurrency market. The Daily Hodl, where Van de Poppe’s analysis is featured, emphasizes that it does not provide investment advice and encourages readers to take responsibility for their own transfers and trades.