A closely watched crypto analyst predicts where the price of Bitcoin (BTC) and Solana (SOL) will peak during the current market cycle.
In a new video update, the host of InvestAnswers tells According to his 552,000 YouTube subscribers, he expects the top crypto assets by market cap to rise by at least 43% from current levels before the bull market ends.
“I increased my Bitcoin price target from $120,000 to $136,000 with a super bull target of $154,000…
Bitcoin is a special animal: it is all based on supply and demand. If demand continues at this rate, these targets are indeed very easily achievable, which is hard to believe.
If you [were to] If you asked me this in 2023, I’d say, “Wow, that’s bullish.” I also believe that spot ETFs (exchange traded funds) will continue to add at least another $48 billion by 2025. That’s how much they added in 2024.”
According to the analyst, the crypto king should peak sometime in the third or fourth quarter of next year, based on historical patterns.
“In 2015-2017 we peaked at 518 days after the halving and in 2019 through 2021 we peaked at 546 days after the halving, so if we average this out we’re getting somewhere close. [the] Time frame from August to October.”
Bitcoin is trading at $94,882 at the time of writing, up fractionally over the past 24 hours.
Next, the crypto strategist moves on to Ethereum (ETH) rival Solana, revealing his conservative and bullish targets for the Layer-1 protocol.
‘I have two goals [for Solana] just like I do with Bitcoin. I have my conservative sandbag target at $332 and my bull target at $361. Could it go to $500?
Yes, that could very easily be done, especially with ETFs and all the adoption that is happening. All it takes is for someone to really understand the fundamental analysis and then they will see that this chain is damn cheap.”
Solana is trading at $193.42 at the time of writing, a gain of 5.18% over the last 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney