Ether (ETH) is experiencing a rather timid dynamic marked by a slight increase in recent days. Nothing to worry about crypto-enthusiast Michaël van de Poppe. He believes that Ethereum’s native crypto is set to see a significant surge. Here’s what supports the optimism of his projection.
Michaël van de Poppe sees Ethereum’s native asset rising by 70%
Michaël van de Poppe, a prominent figure in the crypto industry, recently shared his opinion regarding the price outlook for ether (ETH), Ethereum’s native crypto. The analyst raised the possibility of a substantial rise in the asset’s valuation.
Michaël van de Poppe’s analysis is based on three arguments. First, it highlights the imminent completion of the next major upgrade to the Ethereum platform, known as Dencun. This update is designed to, among other things, reduce transaction costs, improve the scalability of Ethereum, and increase the overall utility and attractiveness of the network. Which could increase its value of ETH.
The second argument raised by Michaël van de Poppe relates to speculation surrounding the introduction of a spot Ethereum ETF. A prospect that could significantly expand its investor base by providing institutional investment opportunities.
Third, the analyst predicts a potential profit rotation from bitcoin (BTC) to ether following the planned BTC halving in April. According to Michaël Van de Poppe, some investors could then choose to reallocate their profits from BTC to ETH, positively impacting the price dynamics of the crypto.
A projection corroborated by the metrics?
Michaël Van de Poppe’s analysis seems supported by the graphic data. These indicate a bullish trend for ether (ETH), characterized by higher low prices. It suggests that Ethereum crypto could soon topple the key $2,336 level into support.
This outlook indicates, according to its findings, the possibility of further upward momentum for ETH. At the time of its analysis, ether (ETH) is trading around $2,309, putting it within reach of this critical level.
In addition, Michaël Van de Poppe also commented on the trajectory that bitcoin (BTC) could take. He predicts a rise in the BTC price to $51,000 before the halving, followed by a correction to the low range of $40,000. The price of bitcoin (BTC) is currently around $43,102. The asset has lost a few feathers in the last 24 hours, falling by around 0.31%. Analyzed over the past week, the dynamics of BTC are however positive since the asset increased by 3.05% over the period.
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