A prominent crypto analyst has made a bold prediction suggesting that Solana (SOL) could experience a rapid surge of more than 870% to reach $250 once Ethereum (ETH) enters its long-awaited bull market.
Do you think Ethereum’s price hike will happen sooner or later than expected? How might this affect Solana’s growth timeline? Let’s read the analyst’s forecast.
The analyst’s bullish view on Solana, BTC and ETH
In a recent strategy session shared with his substantial YouTube following of 446,000 subscribers, the InvestAnswers host outlined his optimistic projection for Solana. He indicated that the cryptocurrency could potentially rise to $250, a staggering increase from its current value of $25.75.
Ethereum up $9,700 by 2025? Will Solana follow the path?
“Well, if Ethereum goes to $9,700, what is the price of Solana?” I calculated it for you. It will be at least $250 when ETH reaches $9,700.
Solana’s upward trajectory will most likely be strongly tied to Ethereum’s upgrade in Cancun, according to the anonymous expert. This improvement aims to significantly improve Ethereum’s scalability, which has caught the interest of crypto-financial service provider Blofin.
Blofin predicts that Ethereum could hit an all-time high of $9,700 per ETH after the Cancun update in the first quarter of 2024. Based on this forecast, the analyst predicted that the price of Solana could reach $250 if Ethereum really reached the expected threshold of $9,700.
While acknowledging the potential for Ethereum’s price surge, the analyst warns against expecting it in the coming months. He believes reaching $9,700 for Ethereum in early 2025 may be more realistic than Q1 2024. Nevertheless, his prediction suggests a promising future for both Ethereum and its impact on the wider crypto market.
Bitcoin sets target for $42,000 before halving
In addition to the predictions for Solana and Ethereum, the analyst repeats his previous prediction for Bitcoin (BTC). He believes the flagship cryptocurrency could see a significant rally of more than 40% from its current levels early next year. His target range for Bitcoin is between $42,000 and could potentially be reached sometime between January and April 2024.
At the time of reporting, Bitcoin is trading at USD 29,804, demonstrating the dynamic nature of the crypto market and the potential for significant price movements in the future.
