Analysis

Here’s Where Bitcoin and Solana Will Peak in Current Market Cycle, According to InvestAnswers

Published

1 year ago

December 29, 2024

A intently watched crypto analyst predicts the place the value of Bitcoin (BTC) and Solana (SOL) will peak through the present market cycle.

In a brand new video replace, the host of InvestAnswers tells In accordance with his 552,000 YouTube subscribers, he expects the highest crypto property by market cap to rise by a minimum of 43% from present ranges earlier than the bull market ends.

“I elevated my Bitcoin value goal from $120,000 to $136,000 with a brilliant bull goal of $154,000…

Bitcoin is a particular animal: it’s all based mostly on provide and demand. If demand continues at this price, these targets are certainly very simply achievable, which is difficult to imagine.

Should you [were to] Should you requested me this in 2023, I might say, “Wow, that is bullish.” I additionally imagine that spot ETFs (alternate traded funds) will proceed so as to add a minimum of one other $48 billion by 2025. That is how a lot they added in 2024.”

In accordance with the analyst, the crypto king ought to peak someday within the third or fourth quarter of subsequent 12 months, based mostly on historic patterns.

“In 2015-2017 we peaked at 518 days after the halving and in 2019 by way of 2021 we peaked at 546 days after the halving, so if we common this out we’re getting someplace shut. [the] Time-frame from August to October.”

Bitcoin is buying and selling at $94,882 on the time of writing, up fractionally over the previous 24 hours.

Subsequent, the crypto strategist strikes on to Ethereum (ETH) rival Solana, revealing his conservative and bullish targets for the Layer-1 protocol.

READ XRP Price Prediction Today

‘I’ve two targets [for Solana] similar to I do with Bitcoin. I’ve my conservative sandbag goal at $332 and my bull goal at $361. May it go to $500?

Sure, that would very simply be carried out, particularly with ETFs and all of the adoption that’s occurring. All it takes is for somebody to actually perceive the basic evaluation after which they may see that this chain is rattling low-cost.”

Solana is buying and selling at $193.42 on the time of writing, a achieve of 5.18% during the last 24 hours.

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