Recently, prominent crypto analyst and trader Michaël van de Poppe explained how he has arrived at his latest price predictions for Bitcoin ($BTC), Ethereum ($ETH), Polkadot ($DOT), Chainlink ($LINK), Cardano ($ADA), Zilliqa ($ZIL), Elrond ($EGLD), and DIA ($DIA) at the top of the current bull cycle.
Here are Van De Poppe’s latest long-term price predictions for these eight crypto-assets.
Reminder, peak high bull cycle prediction; #Bitcoin to $350,000-450,000#Ethereum to $10,000-17,500#Polkadot to $250-350#Chainlink to $250-350#Cardano to $10-20#Zilliqa to $5-7#Elrond to $500-750#DIA to $50-75
Some might be conservative.
— Michaël van de Poppe (@CryptoMichNL) April 3, 2021
He then referred to a video he released on his YouTube channel earlier in the year that explained the reasoning behind his super bullishness on these crypto assets.
Van De Poppe, who believes that we are in the early stages of a bull cycle, started by pointing out that “markets are irrational to the upside and downside”, which is why he thinks that “the next bull cycle will likely bring numbers higher than we’re anticipating.”
When Van De Poppe was making this video, Bitcoin was trading around $35,000 and had a $650 billion market cap. He expects the market cap of Bitcoin to reach around half of the market cap of gold, i.e. around $6 trillion, at the peak of the current bull cycle. So, he is expecting Bitcoin to have a 10x increase in value.
He then says:
“Once we determine the value of Bitcoin at the peak high of the cycle, we should also know that other projects will likely outperform Bitcoin. The lower cap they are, the higher risk there is, the higher the return might be at some point in the cycle.“
Back on January 31, the date this video was released, Ethereum was trading around $1300. By applying a 10x multiple to the price of Ethereum, he says that we arrive at $13,000, which he considers being a fairly conservative prediction for the price of Ethereum at the peak of this cycle.
Next, he said that if we simply applied this 10x multiple to the other projects in his list, that would give us the following future prices:
- Elrond: $600
- Polkadot: $170
- Zilliqa: $1
- Cardano: $3.50
He then points out that given the higher risk of Zilliqa and Cardano, you could expect 20x – 40x increase in value of $ZIL and $ADA.