Michael van de Poppe, a recognized crypto analyst, has forecasted a substantial surge in the value of Ethereum (ETH), suggesting it could soar up to $4,000, marking over a 70% increase from its present valuation. His prediction is based on three key factors likely to propel the growth of the second-largest cryptocurrency by market capitalization.
Ethereum’s Potential Leap
Van de Poppe points to the upcoming Dencun update for Ethereum as a major catalyst for the price increase. This update is set to reduce transaction fees for Layer 2 projects and enhance the network’s scalability. Additionally, the anticipation of a U.S. spot exchange-traded fund (ETF) for Ethereum and profit flow from Bitcoin (BTC) to ETH following Bitcoin’s block reward halving in April are also seen as positive drivers for Ethereum’s price.
The expert’s analysis, as seen on the price chart shared on his social media, depicts Ethereum’s positive trend formation, consistently achieving higher lows and potentially turning the crucial $2,336 level into solid support.
Bitcoin’s Expected Trajectory
Moreover, van de Poppe projects that Bitcoin will ascend to approximately $51,000 before its block reward halving, after which he anticipates a drop below $40,000. His analysis suggests that Bitcoin is currently consolidating and pre-halving excitement is likely to induce a price spike towards his target levels.
Both Ethereum and Bitcoin’s anticipated movements reflect the dynamic nature of cryptocurrency markets, with investors and traders keeping a close eye on indicators that might signal major price movements.