Macro guru Raoul Pal is laying out what he thinks is a reasonable price point for Ethereum (ETH) rival Solana (SOL) for the next bull run.
In a new interview on the Crypto Banter YouTube channel, the former Goldman Sachs executive says that the smart contract platform could eventually find itself skyrocketing between 1,097% and 2,294% from current levels in the next market expansion.
“The numbers have changed dramatically because when I started looking at this, it was trading at $20. We’ve already gone up a lot since then, so these numbers keep halving every time you keep going up a lot. My idea is somewhere between $500 and $1,000, just depending [on] what that market feels like.”
Solana is trading for $41.76 at time of writing, a 7.3% increase during the last 24 hours and a staggering gain of over 300% since the start of 2023.
Pal goes on to agree with host Ran Nuener on his assessment that the next crypto bull cycle will end with Bitcoin (BTC) on top followed by the smart contract platform ETH in second and Solana in third.
However, Pal adds that he might be “blindsided” by the rise of another digital asset, though he says he’s not sure which.
“I actually do [have that same order] too, which obviously means we’re going to be blindsided by something else that’s interesting that we didn’t think of. The Solana of this cycle – what is that going to be? I’m not good enough to pick those…
With a macro bet like [Solana], it’s just so much easier because it’s so obvious. It survived a crisis. It launched. The tech is massively improving. The community is good. The only on Solana narrative is good.”
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- Source: https://dailyhodl.com/2023/11/05/heres-a-reasonable-solana-sol-price-target-for-next-bull-run-according-to-ex-goldman-sachs-executive-raoul-pal/
