Macro guru and Real Vision CEO Raoul Pal thinks Solana (SOL) is poised to print fresh all-time highs this market cycle.
In an interview on the Rug Radio YouTube channel, Pal doubles down on his belief that Solana is the Ethereum (ETH) of the last cycle.
According to Pal, Solana could soar by between 235% and 570% from current levels depending on the type of cycle we get in the coming months.
“If you kind of replicate what ETH did last cycle, that was a 45x from the low. So you get somewhere like about $500.
If I look at the other charts, I get somewhere between $500 and $1,000. And it just depends on the structure of this market. If we get a bubble cycle, it will go to 1,000. If we get some sort of left-translated cycle, it gets to $500. It’s something like that.”
In a left-translated crypto cycle, prices peak earlier than the regular four-year cycles, translating into a shorter bull market and a longer bearish phase.
Solana is trading at $149 at time of writing.
Looking at the broader digital asset market, Pal says that crypto is in the midst of a strong uptrend that he calls “crypto summer.”
“We are in crypto summer. We just started crypto summer. Crypto summer is up only.
Yes, you get the 30% pullbacks that happen in your face in minutes, but that’s crypto summer. This whole year should be crypto summer…
We’re at the sweet spot: global liquidity is picking up [and] should continue going forward. Business cycles should pick up.
So this is the time. This is the great time.
This is the time when ETH outperforms Bitcoin, Solana outperforms ETH, a bunch of alts will outperform Solana… The big trade is now on.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
Credit: Source link
