Analyst Michaël van de Poppe predicts the crypto market may experience a significant rally akin to the Dot-com bubble, with XRP and Sei identified as potential strong performers. He suggests XRP could approach its all-time high of $3.40 while Sei may rise by 169%. Investors are warned to approach these markets cautiously due to inherent risks.
Analyst Michaël van de Poppe is seeing striking parallels between today’s crypto market and the Dot-com bubble of the late 90s. He recently shared his optimistic outlook with his almost 800,000 followers on social media platform X, expressing his belief that big institutional players venturing into crypto could spark a significant market rally.
Van de Poppe argues that the current environment of enthusiasm and investment inflow in cryptocurrencies resembles the earlier tech boom, where valuations of internet companies skyrocketed amid an exuberant investor interest. He states, “This is the cycle where everything is going to go ballistic. Higher than ever. It’s basically the only asset class outperforming all others right now.”
The Dot-com bubble dramatically burst in 2000, wiping out an estimated $5 trillion in wealth and leading many companies to collapse. A significant focus of Van de Poppe’s predictions is the altcoin XRP, which he suggests is close to reaching its previous all-time high of $3.40.
He notes that during periods of rapid growth, it’s vital to consider broader time frames for investments, citing key entry points, like the $1.75 level for XRP. According to him, XRP has appreciated by 50% since reaching that entry level, and he believes the altcoin could soon be challenging its all-time highs.
Currently, XRP is priced at around $2.52. In addition to XRP, Van de Poppe is also keeping an eye on Sei (SEI), a competitor to Solana, which he predicts may experience a surge of up to 169% from its present value.
He cites that the price aims for $0.30 before a probable correction. After this, he foresees a move towards a range of $0.50 to $0.70. At this moment, SEI is valued at approximately $0.26.
As always, investors are urged to proceed with caution. The opinions shared in this article are not investment advice, and those looking to venture into crypto markets should do their due diligence. The Daily Hodl neither endorses nor advises any transactions involving cryptocurrencies.
