If SOL follows Ethereum’s 47x increase from its 2018 low, it might see a 20x increase in value, according to Pal’s calculations.
Solana (SOL) may be about to go on a huge price shift, according to Real Vision founder and CEO Raoul Pal. SOL has the potential to outperform Bitcoin (BTC) and Ethereum (ETH) if the “dream scenario” for the world’s 10th biggest cryptocurrency by market value comes to fruition.
During a recent interview where he discussed a wide range of issues, Pal discussed his very optimistic prognosis for Solana. BlackRock’s ETF registration and comments from CEO Larry Fink on Bitcoin are three examples.
In response to a question on the future value of Bitcoin, Ethereum, and Sol, Pal offered an extremely optimistic forecast for Ethereum’s “competitor.” Solana has lost 1.4% of its value in the last day on the market, trading at roughly $21.
However, during the previous week, the cryptocurrency gained over 10%, and over the past month, it has gained over 43%. While it’s also down 43% from a year ago, Pal pointed out that when prices hit approximately $9 in December 2022, it might have been low.
According to Pal, if SOL bottoms out in 2019, it might follow Ethereum’s lead and surge to its all-time high beyond $4,800, as ETH did after bottoming out in 2018. According to the macro specialist, Solana stands to win a lot if he pursues this plan.
He said Solana may achieve a return of 47x, similar to what Ethereum did after its 2018 bottom. His opinion was:
Pal estimates a “20 something x” increase in Solana’s price from its 2018 low, while this may fall short of the almost 47-fold increase in Ethereum’s price during the same time period.
Pal predicts that the price of SOL would surge to above $400 if his optimistic forecast holds. Pal concurred with predictions of a 3x and 5x increase in BTC and ETH, respectively, implying that Bitcoin’s value might more than quadruple over the next bull cycle. But that’s down from a record high of $69k in November of 2021.
According to his calculations, a tripling from that ATH would imply a 6x from present pricing. But there are a number of variables that might determine the course of the market.
Hard as it is to foresee the future, it seems plausible that Bitcoin may double or even treble from its current value.
He speculates that in 2023, there will be a shortage of Bitcoins, which would drive the price to an all-time high.
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