A preferred crypto strategist is analyzing Solana’s (SOL) potential value path in relation to Bitcoin’s (BTC) doable 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.
In keeping with the nameless crypto analyst, his Solana value prediction methodology first entails Bitcoin’s doable future worth to give you a value goal for Ethereum (ETH).
“What I did was I in contrast the Bitcoin value to the Ethereum dominance sooner or later, which I imagine shall be at the least 25%, and that may convey us to an Ethereum value, hypothetically, of $15,450 if Bitcoin goes to $158,000. If Bitcoin doesn’t go to $158,000, that $15,000 value goal for Ethereum goes away. And that may be a operate of the shortage, the deflationary nature of ETH in proof of stake, and so forth., and so forth.”
A 25% ETH dominance signifies that Ethereum makes up 1 / 4 of the whole crypto market cap.
After deriving the potential future value of Ethereum, the crypto analyst says he can now give you two value targets for Solana.
“Now there are two variations for the Solana value: one is 10% of ETH dominance, and the second is 20% of ETH dominance.”
The crypto strategist says that if Solana is at 10% ETH dominance, he thinks it may surge to $370 on this hypothetical state of affairs, a greater than 1,000% enhance from its present value.
If Solana achieves 20% ETH dominance, the analyst thinks it may skyrocket to $739, a greater than 2,100% enhance.
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% prior to now 24 hours.
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