Former Goldman Sachs executive Raoul Pal believes Ethereum (ETH) competitor Solana (SOL) could see a massive price explosion in this cycle.
In a new interview on the Empire podcast, Pal predicts that Solana will see gains of around 900% in the coming months.
“The whole space is going to go up a lot (in the next 12 months). I think Solana will go up maybe 10x from here and Bitcoin will go up 5x or 4x. That sort of thing, a typical bull market.”
At the time of writing, Solana is trading at $154, while the price of Bitcoin (BTC) is at $61,963.
According to Pal, Bitcoin could peak between about $248,000 and $310,000 in this cycle.
Pal also says he wouldn’t be surprised if another Layer 1 project suddenly emerged as a top performer in the market.
“The main thing I’m starting to think about is that there’s still another race at Layer 1 that’s in the early stages when the network effects aren’t proven yet. That bet is actually a good bet. It’s not a one-size-fits-all bet. But that bet was the Solana bet of the last cycle, the ETH bet of the previous cycle…
So I think about it because I think we’re in for a really good deal and it’s a lot of fun, but it happens very quickly and usually it gets overvalued and then drops 95% afterward.”
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check price promotion
Follow us on XFacebook and Telegram
Surf the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney
