Macro guru Raoul Pal lays out what he believes is an appropriate price point for Ethereum (ETH) rival Solana (SOL) for the next bull run.
In a new interview on YouTube channel Crypto Banter, the former Goldman Sachs executive says the smart contract platform could ultimately skyrocket between 1,097% and 2,294% from current levels during the next market expansion.
“The numbers have changed dramatically because when I started looking at it the trading price was $20. We’ve already risen sharply since then, so every time you continue to rise sharply, these numbers are halved. My idea is somewhere between $500 and $1,000, depending [on] what this market feels like.”
Solana is trading for $41.76 at the time of writing, up 7.3% in the last 24 hours and a staggering gain of over 300% since the start of 2023.
Pal continues to agree with host Ran Nuener in his assessment that the next crypto bull cycle will end with Bitcoin (BTC) at the top, followed by smart contract platform ETH in second and Solana in third.
However, Pal adds that he may be “blindsided” by the rise of another digital asset, although he says he is unsure which one.
“I actually do [have that same order] Of course, this also means that we will be surprised by something else interesting that we hadn’t thought of. The Solana of this cycle – what will it be? I’m not good enough to choose these…
With a macro bet like [Solana]It’s just a lot easier because it’s so obvious. It has survived a crisis. It has been started. The technology is improving massively. The community is good. The only story about Solana is a good one.”
I
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl Mix
Check out the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/eliahinsomnia/WhiteBarbie