The Famous Trader Predicted More Than Twofold Growth of the Popular Altcoin
Michael van de Poppe, a famous trader, claims that one of the largest cryptos in terms of capitalization may rise in price by 150% already in the current upward cycle. What altcoin are we talking about? Read in our new LATOKEN review! But we would like to remind you that traders’ opinions are not a guarantee, and LATOKEN does not provide investment advice. Never forget that cryptocurrency is a volatile asset that might lead to financial losses.
What trader Michael van de Poppe said
The trader is confident that the Polkadot rate will soon exceed $100 (an increase of 150% from current levels). According to Michael van de Poppe, more than a twofold rise in the altcoin price may occur in the current bull cycle if the token manages to stay above the support level around $38 and push off from it for further growth.
Van de Poppe claims that the resistance levels for the Polkadot are at $75 and $115. The trader considers these levels to be potential targets for this altcoin.
Over the past week, Polkadot has been up nearly 20% after developers announced their readiness to roll out parachain auctions on the Polkadot network. On October 15th, the token was traded at about $40, and its capitalization was $41.5 billion. Polkadot is ranked 8th in the list of the largest cryptocurrencies by capitalization, according to CoinGecko.
By the way, if you don’t know, parachain auctions are a new model for launching a protocol and issuing tokens where users benefit the project and determine the fair value of an asset.
Polkadot is an internal token of the same name project that aims to create the decentralized Internet of the future (Web 3.0). DOT is interoperable with other blockchains and allows the creation of smart contracts and new blockchains.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
