An expert analyst predicts that the cryptocurrency market is on track to experience a bubble similar to the late 1990s, driven by the increasing adoption of the internet.
Trader Michaël van de Poppe shares his bullish outlook on the crypto market with his 785,900 followers on X, highlighting the growing interest from mainstream institutional investors in this asset class.
Van de Poppe draws parallels between the current state of the crypto market and the Dot-com era, where the valuation of tech and web-based companies soared as investors poured in, leading to an overexuberant market sentiment.
“This cycle is gearing up for a massive surge.
We are entering a Dot-com bubble-like phase for crypto, with a significant influx of liquidity and adoption into this asset class.
Crypto is currently outperforming other asset classes by a large margin.”
The Dot-com bubble burst in 2000, wiping out $5 trillion in wealth and causing numerous companies to go bankrupt.
One altcoin that van de Poppe believes could mirror the Dot-com bubble phenomenon is XRP. He predicts that XRP could reach close to its all-time high of $3.40.
“When prices start soaring, it’s important to look at higher time frame entry points.
This strategy also applies to XRP.
I identified $1.75 as a key level for entries, and it has surged by 50% since then.
I anticipate that we will soon challenge the all-time highs.”
As of the latest update, XRP is valued at $2.52.
Van de Poppe also has a positive outlook on SEI, a potential competitor to Solana (SOL). He predicts that SEI could see a price increase of up to 169% from its current levels.
“Once we break through and surpass, the next target is $0.30.
I believe SEI will experience significant upward momentum.
Initially targeting $0.30, followed by a minor correction for entry opportunities before continuing towards the $0.50-0.70 range.”
At the time of writing, SEI is valued at $0.26.
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