- Michaël van de Poppe based Eight International, a European crypto consultancy.
- He instructed us that he’s bullish on 3 altcoins, together with ether, which may soar to $15,000.
- Van de Poppe additionally shared why he thinks cardano’s worth “is not actual at this stage.”
In some unspecified time in the future within the subsequent 9 months, Michaël van de Poppe thinks ether will overtake bitcoin by way of market capitalization – an occasion many crypto fans name the ‘flippening.’
“If we’re nonetheless in a bull cycle, I believe that may occur,” the Eight International chief government instructed Insider in a current interview. “The large query is whether or not it is momentary, or for the ages.”
“If I needed to be bullish on bitcoin or ether for the subsequent two years, I might choose ether,” he added.
That assertion ought to be shocking – contemplating van de Poppe is assured that bitcoin will hit $300,000 this bull cycle. However he instructed Insider {that a} mixture of value motion, market sentiment, and on-chain evaluation pointed to ether’s value rising to $15,000.
Van de Poppe runs Eight International, a 12-person crypto consultancy and academic platform, from Amsterdam’s Beursplein 5. He additionally offers value evaluation on his 400,000-follower Twitter account and 130,000-subscriber YouTube channel.
“Proper now, we’re dwelling our lives in crypto, following our ardour, and concentrating on growth,” he stated. “Most platforms goal day buying and selling and commerce concepts, however we’re constructing in the direction of asset administration and different portfolios.”
Eight International
Ether to $15,000
Van de Poppe bases his value evaluation on Plan B’s stock-to-flow mannequin, which compares the quantity of a cryptocurrency in circulation in opposition to its price of manufacturing. That mannequin means that the present
bull market
nonetheless has room to run.
“I believe we could have six to 9 extra months of bull, with another massive breakout to come back,” van de Poppe stated.
“Ether continues to be in a bull cycle, I might evaluate it to the bitcoin bull cycle of 2017,” he added, referring to the 2017 bitcoin increase, when costs soared from $998 to simply beneath $20,000 by the top of the yr.
Like all cryptocurrencies, ether has been unstable in 2021. It surged 440% from $775 to an all-time excessive of over $4,000 in Could, then slid beneath $2,000. This week, it pushed by means of the $4,000 stage as soon as once more. Van de Poppe instructed Insider that he is anticipating costs will rise almost four-fold through the present cycle.
“If bitcoin breaks out another time, then after all ether will do the identical,” he stated. “Ether in the direction of $12,500 to $15,000 appears very doubtless with the present burn charges.”
Nevertheless, van de Poppe did categorical some skepticism about ethereum’s total scalability. Ethereum Enchancment Protocol 1559, or EIP-1559, is designed to make transaction charges extra predictable and “burns” cash to restrict ether’s total provide. It launched in July this yr.
“EIP-1559 is step one,” he stated. “However the concern is not fastened – gasoline charges are skyrocketing for the time being.”
“As a result of it isn’t fastened, you see different ecosystems competing – corresponding to solana and avalanche,” he added.
Altcoins to purchase
In addition to ether, van de Poppe recognized two different altcoins that could possibly be set to surge over the subsequent few months. An altcoin is outlined as any cryptocurrency that is not bitcoin.
“There are nonetheless a couple of cash which might be simply waking up,” van de Poppe stated. “A few layer 1 blockchains are lagging behind closely.”
First, van de Poppe beneficial cosmos, attributable to its subtle technical functions.
“Cosmos has its personal ecosystem, connecting different layer 1 blockchains, so it is impartial of 1 fastened system,” he stated. “I have been saying for some time that it could possibly be the subsequent solana.”
Cosmos’ atom token has posted some robust development this yr, surging from $6.50 initially of 2021 to an all-time excessive of just below $45 on September 20. Nevertheless, it has since dropped in the direction of the $35 stage.
Secondly, van de Poppe praised polkadot, which he stated was clearly lagging behind within the present bull cycle and thus could possibly be set to surge.
“I prefer it because of the technical elements – I prefer it purely based mostly on value motion evaluation,” he stated. “Its ecosystem has some difficulties, but it surely’s one of many few layer-ones not transferring in any respect but.”
Polkadot’s value has been unstable in 2021, declining from an all-time excessive of $48 in mid-Could to simply $11 by July. It is presently valued at simply over $44.
“Cosmos and polkadot are each undervalued,” van de Poppe stated. “I believe each of those cash may attain three-digit valuations.”
Cardano’s ada a ‘joke’
Nevertheless, van de Poppe stated that he is presently bearish on cardano’s ada token.
“Cardano being valued at $100 billion simply would not make sense in any respect,” he instructed Insider. “It suggests we’d already be in a bubble with ridiculous overvaluations.”
Ada has gained almost 1,250% this yr, turning into the third-largest cryptocurrency by market capitalization, behind bitcoin and ether. Van de Poppe stated that there’s nothing essentially underpinning that valuation, with cardano’s community – which upgraded to internet hosting good contracts last month – lagging behind ethereum and different platforms.
“Cardano is a joke,” van de Poppe stated. “The ecosystem that is being constructed is gorgeous, but it surely’s ridiculous that it is valued at such a excessive quantity – it is all massive goals and fortune-telling, with no realization.”
“If you happen to evaluate it to ethereum, avalanche, or solana, it is massively overvalued,” he added. “Its worth is not actual at this stage.”
Van de Poppe drew a comparability between the final crypto crash and the present market, pointing to cardano’s similarities with XRP. Ripple’s XRP token surged above $3 initially of 2018, however then collapsed to beneath 50 cents simply 4 months later. It has by no means regained its previous place because the third-largest cryptocurrency by market capitalization.
“Ada could possibly be the XRP of 2021,” van de Poppe stated. “Everybody I do know who would not have something to do with crypto is shopping for up cardano proper now – that means both it is overvalued, or different initiatives are undervalued.”
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