Crypto analyst Michaël van de Poppe predicts that Polkadot (DOT), a competitor of Ethereum (ETH), could see its price more than double. He believes that Polkadot is set to rally due to significant network advancements and will also benefit from the upward momentum of ETH. Van de Poppe notes that Polkadot has recently undergone a retest at key levels and is slowly waking up. With the release of Polkadot 2.0 and the JAM white paper, along with its correlation with ETH, he expects Polkadot’s next target to be around $18.

As of now, Polkadot is trading at $7.14, showing an increase of more than 4% in the last 24 hours.

Van de Poppe also suggests that the broader altcoin market is entering a bullish phase after a correction. He believes that the altcoin market capitalization has completed its correction and is now on track to reach its all-time high, which is approximately 60% to 70% higher from its current level. Van de Poppe expects Ethereum to reach this milestone in the next two to four months.

Furthermore, he predicts that altcoins will likely outperform Bitcoin in the coming months. While acknowledging the need for corrections, he emphasizes that many altcoins are heavily undervalued, with most of them down 70% against Bitcoin. Van de Poppe advises against feeling the fear of missing out (FOMO) and believes that altcoins will perform significantly better in the future.

Regarding Bitcoin, van de Poppe remains bullish but expects it to retest the $68,000 level on the 12-hour chart before continuing its upward trend. He notes that Bitcoin is currently consolidating and predicts a retest before further upward movement.

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

Please note that the opinions expressed by Michaël van de Poppe are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor.