Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April

Christian Encila

1 year ago

3 mins read

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Polkadot (DOT) is gaining positive momentum and could be poised for a significant price surge, according to crypto analysts.

Michaël van de Poppe, an expert in the field, has identified encouraging market dynamics for Polkadot, suggesting a potential upward trajectory in the next few days or weeks.

Polkadot Analyst Insights: Promising Momentum

Polkadot on the USDT pair showed a regular pattern of higher highs and lower lows, according to Van de Poppe, suggesting an increase in bullish momentum. He also pointed out that Polkadot’s Bitcoin pair is still around a cycle low, indicating a possible trend reversal. Van de Poppe theorised that Polkadot might be returning to its peak in the upcoming months based on these facts.

#Polkadot is starting to gain positive momentum, as it’s making higher highs and lower lows on the USDT pair.

The BTC pair is still at the cycle low, indicating a likely upward run on the horizon.

Perhaps $DOT can run towards an all-time high in the coming months. pic.twitter.com/dewBRJO9dO

— Michaël van de Poppe (@CryptoMichNL) March 17, 2024

At the time of writing, Polkadot’s price stands at $9.26, with a 24-hour trading volume of $1.24 billion and a market capitalization of a little over $9 billion.



DOT price up in the last 24 hours. Source: Coingecko

Cryptocurrency experts have been closely monitoring Polkadot’s price fluctuations since the beginning of 2023. Drawing insights from historical data and market trends, these analysts anticipate an average DOT rate of $13.70 by March 2024.

Total crypto market cap. Chart: TradingView

However, they acknowledge a range of potential outcomes, with minimum and maximum price estimates standing at $10 and $17, respectively.

Starting today @Polkadot @kusamanetwork and 6 top #parachains are now live on Dune!

Our mission is to make crypto data accessible, and we’re thrilled to help the #Polkadot ecosystem in partnership with @colorfulnotion ⚡

Start your data journey👇 https://t.co/mMs4iO9w96

— Dune (@DuneAnalytics) March 19, 2024

Blockchain Data Accessibility Revolutionized

Meanwhile, in a move that promises to revolutionize crypto data analysis for Polkadot and Kusama, Dune Analytics has announced a groundbreaking partnership with Colorful Notion. This collaboration marks a significant leap forward in accessibility, bringing a wealth of on-chain data from these blockchains to the fingertips of Dune users for the very first time.

Previously, analyzing on-chain activity within the Polkadot and Kusama ecosystems presented a challenge. However, this partnership empowers users with the ability to examine a rich pool of data, including decoded Substrate block data tables, extrinsics, calls, events, and transfers.

This integration signifies a crucial step towards demystifying the complexities of blockchain data within the Polkadot ecosystem. By making this information readily accessible and fostering user-friendly analysis tools, the partnership between Dune Analytics and Colorful Notion holds immense potential for developers, researchers, and anyone with a vested interest in understanding the health and activity of the Polkadot network.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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