This altcoin would be Ethereum’s main competitor in 2022, according to an analyst

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Michael van de Poppe, a cryptocurrency market analyst with more than 150,000 followers on his YouTube channel, forecast last Saturday that the Avalanche cryptocurrency could quadruple its price in 2022 and become the main competitor of Ethereum.

In the expert’s opinion, Avalanche is currently in a correction phase after rising 120% in November 2021, when it renewed the all-time high of $ 144. “After a strong growth momentum, there is a correction that we are currently seeing. There is likely to be another wave of momentum in 2022,” he noted.

According to van de Poppe’s forecast, the price of the token would first decline to $ 55. However, after the accumulation of transaction volumes, Avalanche would rise rapidly to $ 370, which would be a 354% increase from current levels.

According to CoinGecko portal, Avalanche is currently trading at around $ 104. In the last 24 hours its price rose by 29%. The token’s capitalization exceeds $ 25 billion.

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