Macro guru and former top banker Raoul Pal predicts huge rise for Ethereum rival Solana and shares it during a new interview on Crypto Banter’s YouTube channel. During the interview, Raoul Pal shares that he foresees increases of 1,097 to 2,294 percent from the current price level of the currency.
Huge rise for Solana
It is clear that Raoul Pal has huge expectations for the popular smart contract platform, which was built to provide competition to Vitalik Buterin’s great Ethereum; which has been struggling to follow in Bitcoin’s footsteps lately.
Could this then become the cycle where Ethereum has to give up its second place to another promising project? It seems too early for such speculation, but it is certain that Raoul Pal is extremely bullish on Solana.
“The numbers have changed drastically. When I first glanced at Solana it was trading at $20. Since then we have grown enormously […]. My estimate is that we will end up somewhere between $500 and $1,000, depending on how the market feels,” said Raoul Pal.
At the time of writing, Solana is trading at $41.26, marking a 25.27 percent upside for the project.
Solana is doing well in 2023
The year 2023 has been a fantastic period for Solana so far. Since the beginning of the year, the currency has risen by more than 300 percent. However, measured from the all-time high, the project is still not going well.
On November 6, 2021, Solana reached its provisional all-time high with a price of $ 259.96. It is currently still 84.16 percent away from that, which means that significant price increases are still required to reach that level again.
From this level it will take about 6.5x to reach the old all-time high. So you can see how far Solana has fallen compared to, for example, Bitcoin, which only needs to turn upside down once to reach the old all-time high.
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2023-11-06 07:02:17
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