Analyst Says Solana (SOL) Has Potential for Explosive Gains Next Bull Run – Here Are His Price Targets
A well-liked crypto strategist is analyzing Solana’s (SOL) potential worth path in relation to Bitcoin’s (BTC) doable explosion through the subsequent bull market.
In a brand new YouTube video, the nameless host of InvestAnswers unveils to his 444,000 subscribers a technique for predicting Solana’s worth sooner or later.
In line with the nameless crypto analyst, his Solana worth prediction methodology first entails Bitcoin’s doable future worth to provide you with a worth goal for Ethereum (ETH).
“What I did was I in contrast the Bitcoin worth to the Ethereum dominance sooner or later, which I consider shall be at the least 25%, and that can deliver us to an Ethereum worth, hypothetically, of $15,450 if Bitcoin goes to $158,000. If Bitcoin doesn’t go to $158,000, that $15,000 worth goal for Ethereum goes away. And that could be a operate of the shortage, the deflationary nature of ETH in proof of stake, and so on., and so on.”
A 25% ETH dominance signifies that Ethereum makes up 1 / 4 of the overall crypto market cap.
After deriving the potential future worth of Ethereum, the crypto analyst says he can now provide you with two worth targets for Solana.
“Now there are two variations for the Solana worth: one is 10% of ETH dominance, and the second is 20% of ETH dominance.”
The crypto strategist says that if Solana is at 10% ETH dominance, he thinks it might surge to $370 on this hypothetical scenario, a greater than 1,000% improve from its present worth.
If Solana achieves 20% ETH dominance, the analyst thinks it might skyrocket to $739, a greater than 2,100% improve.
SOL is buying and selling at $32.78 at time of writing. The ninth-ranked crypto asset by market cap is up greater than 4.6% prior to now 24 hours.
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