A widely followed crypto analyst believes that Solana (SOL) will approach its all-time highs once Ethereum (ETH) starts its bull market.
In a new strategy session, the InvestAnswers host tells his 446,000 YouTube subscribers that Solana could go as high as $250, an increase of more than 870% from his current price of $25.75.
According to the pseudonymous analyst, Solana’s rise is likely due to Ethereum’s Cancun upgrade, which is expected to further elevate the scalability of the leading smart contract platform. The InvestAnswers host mentions a prediction made by Blofin, a crypto-financial services firm that sees Ethereum rising to $9,700 after the upgrade.
“According to Blofin, they predict that after the Ethereum upgrade in Cancun, the price could top $9,700 per ETH in Q1 2024. And of course, that is their most optimistic case…
The next question is always: ‘Well, if Ethereum goes up to $9,700, what is the price of Solana?’ I calculated it for you. It will be at least $250 if ETH reaches $9,700.
Remember $9,700 from where it is now is more than 5x and of course Solana is going up faster than ETH at that point.”
While the InvestAnswers host believes that Ethereum could rise to $9,700, he does not see the rise in the coming months.
“great to see $9,700 ETH. METERmaybe we’ll see him in lockdown. I doubt we’ll see it in the first quarter of 2024, bbut maybe early 2025.”
As for Bitcoin (BTC), the anonymous analyst reiterates his prediction that the flagship crypto asset will soar by more than 40% from current levels early next year.
“I said many times a few months ago, I wouldn’t be surprised if we had a Bitcoin target of $42,000 between January and April 2024.”
Bitcoin is trading at $29,804 at the time of writing.
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