The English word “flippening” refers to the scenario in which the market cap of Ethereum surpasses Bitcoin for the crypto community. Also, there are many crypto experts who believe that ETH can achieve this. For example, Michaël van de Poppe, founder of Eight Global, thinks this will happen in 9 months. Poppe revealed $15,000 for ETH and bullish for ADA and 2 other altcoins. The social media analyst also touched on these issues…
ADA, ETH, DOT and ATOM on Michaël van de Poppe’s list
At some point in the next nine months, Eight Global CEO Michaël van de Poppe thinks Ethereum will surpass Bitcoin in terms of market cap. “If we’re still in a bull cycle, I think this will happen,” Poppe said.
The big question is whether this is temporary or for the ages. If I had to get bullish on Bitcoin or Ethereum over the next two years, I would choose Ether.
Considering that Van de Poppe, whose analysis we shared as , is confident that Bitcoin will reach $ 300,000 in this bull cycle, this should be a little surprising. However, the analyst’s price action report indicates that a combination of market sentiment and on-chain analysis could push the ETH price to $15,000. Van de Poppe runs Eight Global, a 12-person crypto consulting and education platform from Beursplein 5 in Amsterdam. He also provides price analysis on his Twitter account with 400,000 followers and YouTube channel with 130,000 subscribers. Van de Poppe:
We currently live our lives in crypto, following our passion and aiming to expand. Most platforms target day trading and trading ideas, but we’re moving towards asset management and diversified portfolios.
The target is $15,000 in Ethereum, what about ADA?
Van de Poppe bases his price analysis on Plan B’s stock-to-flow model (S2F), which compares the amount of cryptocurrency in circulation with the rate of production. This pattern shows that the current bull market still has room to work. Poppe had this to say about it:
I think we’ll have another six to nine months of bulls with one more big breakout.
Poppe also added, “Ether is still in a bull cycle, I would compare it to the Bitcoin bull cycle of 2017,” referring to the 2017 bitcoin flooding, where prices rose from $998 to just under $20,000 by the end of the year.
What has Ethereum done this year?
Like all cryptocurrencies, Ethereum experienced a volatile season in 2021. It rose 440% in May from $775 to above ATH of $4,000, but has since dropped to $3,000. Van de Poppe says he predicts prices will quadruple during the current cycle:
If Bitcoin flops once again, of course, Ethereum will do the same. ETH between $12,500 and $15,000 looks very likely with current burn rates.
Michaël van de Poppe expresses concern about Ethereum
However, van de Poppe expressed some doubts about the overall scalability of Ethereum. Ethereum EIP-1559 was designed to “burn” ETHs to make the transaction fees more predictable and limit the overall supply of Ether, and was launched in July this year. Poppe said:
EIP-1559 is the first step. But the problem is not solved – currently the series of gas fees is growing rapidly. You see other ecosystems competing like Solana and Avalanche as it doesn’t improve.
Buy analystlists altcoins that can be bought
Alongside Ethereum, Van de Poppe has identified two other altcoins that could start to rise in the next few months. Altcoins are defined as any non-Bitcoin cryptocurrency. Poppe says the following about new altcoin projects:
There are a few cryptocurrencies that are just waking up. A few layer 1 blockchains are heavily lagging behind.
The first choice is Cosmos:
First, van de Poppe recommends Cosmos (ATOM) because of its complex technical applications:
Cosmos has its own ecosystem that connects other layer 1 blockchains, so it is independent of a single stable system. I’ve been saying for a while that this could be the next Solana.
Cosmos’ ATOM has seen strong growth this year, rising from $6.50 in early 2021 to just under $45 ATH on September 20. But its price has dropped by a third over the past few days. The Evergrande crisis has spread to the crypto market. Chinese real estate firm Evergrande’s $300 billion liabilities triggered a global sell-off this week, with most cryptocurrencies also taking a hit.
Polkadot (DOT) is in second place
In second place, Van de Poppe talked about Polkadot (DOT), which he says is clearly behind in the current bull cycle and could therefore continue to rise:
I like it because of technical factors, I like it purely based on price action analysis. Its ecosystem has some challenges, but it is one of the few layers that has yet to move at all.
Polkadot recorded a fluctuating series of price movements in 2021, dropping from its ATH level in mid-May to just $11 by July. It is currently valued at just over $27. Poppe thinks:
Cosmos and Polkadot are pretty cheap right now. I think both of these coins could reach triple-digit values.
Michaël van de Poppe, Cardano (ADA) also in decline
However, Poppe said that at the moment Cardano ADA is in a bearish trend. “It makes no sense that Cardano (ADA) is worth $100 billion,” he said in the interview, adding:
It shows that we may already be in a bubble of ridiculously overvaluation.
ADA has gained approximately 1,250% this year, making it the third-largest cryptocurrency by market cap, behind Bitcoin and Ethereum. Van de Poppe said there is nothing fundamentally to support this valuation, as the Cardano (ADA) network, which rose to host smart contracts just nine days ago, lags behind Ethereum and other platforms. Van de Poppe’s other statements for the ADA were:
Cardano (ADA) is a joke. The ecosystem being built is beautiful, but it’s ridiculous that it has such a high value, it’s all big dreams and fortune-telling, unwittingly. It’s massively overvalued if you compare it to Ethereum, Avalanche or Solana. Its value at this stage is not real.
Van de Poppe made a comparison between the recent crypto crash and the current market, pointing out the similarities of Cardano (ADA) with XRP. Ripple’s XRP token surged above $3 in early 2018, but then dropped below $0.50 just four months later. It has never regained its former position as the third largest cryptocurrency by market cap. Van de Poppe’s final comments for ADA and XRP were:
ADA could be the XRP of 2021. Everyone I know who has nothing to do with crypto is currently buying ADA, which shows it’s either overvalued or other projects are undervalued. ADA could be the XRP of 2021.