Renowned crypto analyst predicts Solana (SOL) to approach its all-time highs as Ethereum (ETH) initiates its bull market.
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In a recent strategy session, InvestAnswers’ host, addressing 446,000 YouTube subscribers, suggests that Solana (SOL) has the potential to surge to $250, representing an impressive 870% increase from its current price of $25.75.
The pseudonymous analyst anticipates Solana’s surge to be catalyzed by Ethereum’s Cancun upgrade, which aims to enhance the scalability of the prominent smart contract platform. InvestAnswers’ host refers to Blofin, a crypto-financial services firm, predicting Ethereum to rise to $9,700 after the update.
According to Blofin, their most optimistic case foresees Ethereum’s price surpassing $9,700 per ETH in the first quarter of 2024 following the Cancun upgrade.
The InvestAnswers host predicts that if Ethereum reaches $9,700, Solana’s price could be at least $250. However, he doesn’t expect Ethereum’s surge to happen in the near future, acknowledging that it would be over a 5x increase from its current value. Additionally, he believes that Solana will outpace Ethereum’s growth during that period.
The InvestAnswers host expresses enthusiasm about the possibility of Ethereum reaching $9,700, but doubts it will happen in the first quarter of 2024. He speculates that such a milestone could be more likely in early 2025, possibly during the next bull run.
The anonymous analyst reaffirms their forecast that Bitcoin (BTC) will experience a significant surge of over 40% from its current levels by early next year.
The analyst has consistently mentioned their prediction that Bitcoin could reach a target of $42,000 sometime between January and April of 2024.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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