Michaël van de Poppe, one of the leading analysts of the crypto market, believes that there is a huge potential for an increase in the price of Polkadot (DOT), one of the competitors of Ethereum (ETH). Van de Poppe states that the correction in the crypto market offers various opportunities to investors and emphasizes that one of these opportunities lies in Polkadot. According to the analyst’s prediction, the altcoin could rise as high as $17, an increase of 164% from current levels.
According to Van de Poppe’s chart analysis, Polkadot’s price may face a critical resistance near $9.39 after testing the support levels between $5.50 and $6.00. Breaking this resistance level could enable Polkadot to surge even higher, the analyst said. thinks.
Polkadot was trading at $6.45 at press time.
Another cryptocurrency that analysts follow closely is Bitcoin (BTC). According to Van de Poppe, the leading crypto asset is heading towards the final stages of the correction. According to the analyst, Bitcoin has a lower range between $36,000 and $39,000. According to Van de Poppe’s chart, the range above is slightly above $ 51,200, the level last reached in December 2021.
#Bitcoin is getting towards the final stages of this correction.
NEWS CONTINUES BELOWWe’re seeing decrease volatility from here, as the markets have witnessed a 20% correction in 10 days.
The range-low is still $36-39K, and upward momentum to the halving is likely from here. pic.twitter.com/2i5WzczD1a
— Michaël van de Poppe (@CryptoMichNL) January 25, 2024
Bitcoin is trading at $39,890 at press time.
Van de Poppe, who also updated his predictions about the general altcoin market, says that there is an opportunity amid the negative atmosphere and double-digit correction.
“Altcoins are entering a 30% – 50% correction.
Following the approval of spot Bitcoin exchange-traded funds (ETFs), people are starting to lose faith.
Negative news comes to the fore.
It’s time to create positions.
“This is a great way to get into the market and is probably the final bottom.”
However, investors should always be careful as price fluctuations in crypto assets are high and the market is generally speculative. While Michaël van de Poppe’s predictions offer investors a potential profit opportunity, it is important for each investor to evaluate his own risk tolerance, follow market trends and conduct detailed research.
You can follow the current price movement here.