Analyst projects up to 8,000% appreciation in five cryptocurrencies3 min read
Dutch analyst Michaël van de Poppe reviewed his price forecasts for five cryptocurrencies. On his Twitter, van de Poppe posted his target price bets for Cardano (ADA), Elrond (EGLD), Ether (ETH), Zilliqa (ZIL) and BTC (BTC).
Overall, the forecasts had little change from the analyst’s projected prices in April. However, the biggest highlight was EGLD, which underwent a 100% overhaul in its target price.
Cardano still on account
After a promising start to the year, the ADA fell out of favor and saw its price drop 50% in the last quarter. As a result, cryptocurrency remains stagnant at the $1.60 range, having peaked at $3.
However, van de Poppe maintains his prediction that the ADA could reach between $10 and $20 at the end of this cycle. If the ADA reaches the upper range of the forecast, the move could result in a 1,204% increase by the end of the cycle.
Zilliqa, the favorite
Zilliqa is a network that offers high scalability and second-tier solutions. It is a van de Poppe favorite, but it suffered a sharp devaluation in 2021. ZIL’s price has dropped nearly 65% from its high, and is now worth just $0.08.
However, the analyst kept his forecast in a range of $5 to $7 in the cryptocurrency price. In case of success, the van de Poppe forecast would represent an increase of 8,750% compared to the current price.
Elrond: valuation updates estimates
When van de Poppe did his first analysis of the bull cycle, EGLD was on this list. Since then, its valuation has grown at an exponential pace, reaching 2.152% between January 1st and the historic high of November 23rd.
As a result, EGLD was the only cryptocurrency to have its price estimate revised. Despite the recent correction, van de Poppe expects the cryptocurrency to reach as much as $1,750.
Based on the current price ($354), the EGLD would have the margin to reach 495% appreciation in the coming months. That is, approximately a quarter of the valuation obtained so far in 2021.
ETH at $17,000
The second-to-last cryptocurrency on the list is ETH, the second largest in market value. Unlike the others on this list, ETH is very close to its maxims. Quoted at US$ 4,600, its price could reach up to US$ 17,5 thousand at the end of the cycle, foresees van de Poppe.
However, ETH’s upside potential is the smallest of the three, as it would reach “only” 371% between the current price and the most optimistic estimate. In fact, this was practically the same percentage valuation obtained by the cryptocurrency since January 1st until this text was written.
Exponentially high BTC
Finally, van de Poppe did a more detailed analysis of the BTC price, showing not only the price projections, but the current moment as well.
Regarding the high cycle, the analyst stated that he expects the cryptocurrency to be quoted between US$ 350,000 and US$ 450,000 by the end of the movement.
However, the analyst pointed out that the BTC is finding it difficult to break out of the US$ 60,000 region. Because of this, the moment is to be cautious and observe possible entry moments.
“It’s very simple. Below $60,000 I remained cautious. I would like to see that area be breached. Levels for BTC purchases: $53,000 and $54,000 zones, or $47,000 and $50,000 for BTC,” he said.