Macro guru Raoul Pal explains what he thinks is a reasonable price for Ethereum (ETH) rival Solana (SOL) for the next bull run.
In a new interview on the Crypto Banter YouTube channel, the former Goldman Sachs executive says the smart contract platform could ultimately skyrocket between 1,097% and 2,294% from current levels on the next market expansion.
“The numbers have changed dramatically because when I started looking at this it was trading at $20. We’ve already gone up a lot since then, so these numbers keep halving every time you keep going up a lot. My idea is somewhere between $500 and $1,000 depending [on] what that market feels like.”
Solana is trading at $41.76 at the time of writing, up 7.3% over the past 24 hours and a staggering gain of over 300% since the start of 2023.
Pal further agrees with host Ran Nuener on his assessment that the next crypto bull cycle will end with Bitcoin (BTC) at the top, followed by smart contract platform ETH in second place and Solana in third.
However, Pal adds that he may be “blindsided” by the rise of another digital asset, although he says he’s not sure which one.
“Actually yes [have that same order] also, which obviously means that we will be blinded by something else interesting that we haven’t thought of. The Solana of this cycle – what will it be? I’m not good enough to choose that one…
With a macro bet such as [Solana], it’s so much easier because it’s so clear. It survived a crisis. It was launched. The technology is improving enormously. The community is good. The only story about Solana is good.”
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