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February 27, 2024
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Altcoin Market Outlook: Solana (SOL) Price To Surge 870% – Here’s The Timeline

The post Altcoin Market Outlook: Solana (SOL) Price To Surge 870% – Here’s The Timeline appeared first on Coinpedia Fintech News

A prominent crypto analyst has made a bold prediction, suggesting that Solana (SOL) could experience a meteoric rise of over 870% to reach $250 once Ethereum (ETH) enters its much-anticipated bull market. 

Do you think Ethereum’s price surge will occur sooner or later than expected? How might this impact Solana’s growth timeline? Let’s read the analyst’s prediction. 

The Analyst’s Bullish Insight on Solana, BTC & ETH

In a recent strategy session shared with his substantial YouTube following of 446,000 subscribers, the InvestAnswers host outlined his bullish projection for Solana. He indicated that the cryptocurrency could potentially surge to $250, marking a staggering increase from its current value of $25.75. 

Ethereum to up by $9,700 by 2025? Will Solana follow the path?

“Well if Ethereum goes to $9,700, what’s the price of Solana?’ I calculated it for you. It’s going to be at least $250 if ETH hits $9,700.” 

Solana’s upward trajectory, according to the anonymous expert, will most likely be strongly tied to Ethereum’s Cancun upgrade. This improvement is intended to greatly improve Ethereum’s scalability, which has piqued the interest of the crypto-financial services business Blofin.

Blofin forecasts that following the Cancun update, Ethereum might reach an all-time high of $9,700 per ETH by the first quarter of 2024. Based on this forecast, the analyst predicted that Solana’s price may reach $250 if Ethereum does really reach the expected $9,700 threshold.

While the analyst acknowledges the potential for Ethereum’s price surge, he cautions against expecting it in the coming months. He believes that hitting $9,700 for Ethereum may be more realistic in early 2025 rather than the first quarter of 2024. Nonetheless, his forecast suggests a promising future for both Ethereum and its impact on the broader crypto market. 

Bitcoin Sets Target for $42000 before Halving 

In addition to the predictions for Solana and Ethereum, the analyst reiterates his earlier forecast for Bitcoin (BTC). He believes that the flagship cryptocurrency could experience a significant rally of over 40% from its current levels by early next year. His target range for Bitcoin is set between $42,000 and could potentially be reached sometime between January and April of 2024.

At the time of reporting, Bitcoin is trading at $29,804, showcasing the dynamic nature of the crypto market and the potential for significant price movements in the future.

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