A preferred crypto strategist is analyzing Solana’s (SOL) potential price path in relation to Bitcoin’s (BTC) attainable explosion in the course of the subsequent bull market.
In a brand new YouTube video, the nameless host of InvestAnswers unveils to his 444,000 subscribers a technique for predicting Solana’s worth sooner or later.
According to the nameless crypto analyst, his Solana price prediction methodology first entails taking a look at Bitcoin’s attainable future worth to give you a price goal for Ethereum (ETH).
“What I did was I compared the Bitcoin price to the Ethereum dominance in the future, which I believe will be at least 25%, and that will bring us to an Ethereum price, hypothetically, of $15,450 if Bitcoin goes to $158,000. If Bitcoin doesn’t go to $158,000, that $15,000 price target for Ethereum goes away. And that is a function of the scarcity, the deflationary nature of ETH in proof of stake, etc., etc.”
A 25% ETH dominance signifies that Ethereum makes up 1 / 4 of the overall crypto market cap.
After deriving the potential future price of Ethereum, the crypto analyst says he can now give you two price targets for Solana.
“Now there are two variations for the Solana price: one is 10% of ETH dominance, and the second one is 20% of ETH dominance.”
The crypto strategist says that if Solana is at 10% ETH dominance, he thinks it might surge to $370 on this hypothetical state of affairs, a greater than 1,000% improve from its present price.
If Solana achieves 20% ETH dominance, the analyst thinks it might skyrocket to $739, a greater than 2,100% improve.
SOL is buying and selling at $32.78 at time of writing. The ninth-ranked crypto asset by market cap is up greater than 4.6% up to now 24 hours.
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