Ex-Goldman Sachs executive Raoul Pal believes that Ethereum (ETH) competitor Solana (SOL) could have a massive price explosion this cycle.
In a new interview on the Empire podcast, Pal predicts that Solana will put up somewhere around 900% gains in the coming months.
“The whole space goes up a lot [in the next 12 months]. I think Solana does maybe 10x from here, and Bitcoin does 5x or 4x from here. That kind of stuff, typical bull market.”
Solana is trading at $154 at time of writing while Bitcoin (BTC) is priced at $61,963.
According to Pal, Bitcoin may peak this cycle between approximately $248,000 and $310,000.
Pal also says that he wouldn’t be surprised if another layer-1 project suddenly emerges as a top market performer.
“The main thing that I’m starting to think through is there is always another layer-1 race, which is early stage, when you don’t have proven network effects. That bet is actually a good bet. It’s not one you go all in on. But that bet was the Solana bet of last cycle, the ETH bet of the previous cycle…
So, I’m thinking through that because I reckon there’s a really good trade to come, and it’s a lot of fun, but it comes very quickly, and it usually gets overvalued and then goes down 95% afterward.”
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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 losses 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.
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