An investor who precisely referred to as the crypto market backside in 2022 is expressing bullish sentiment on a number one Ethereum (ETH) competitor.
Reacting to an unnamed particular person who confessed on-line to investing a $75,000 bonus in Solana (SOL), Chris Burniske tells his 263,300 followers on the social media platform X that the funding might flip into $2 million.
Based on the founding father of Placeholder Capital and former head of crypto at ARK Make investments, his prediction is predicated on the assumption that Solana will attain a value double its all-time excessive of about $260 recorded in November of 2021.
“Assumes SOL goes at the very least 2x former all-time excessive, which I believe possible, however can at all times be mistaken.”
Solana is buying and selling at $19.61 at time of writing and must recognize by roughly 2,551% to succeed in Burniske’s envisaged value of $520.
Earlier this month, the crypto investor predicted that Solana is prone to outperform Ethereum in the course of the subsequent market rally. Based on Burniske, Solana has varied components that give the Tenth-largest crypto asset by market cap an edge.
“Quiet product launches, upgraded performance, decrease charges, extra throughput, no hype – all indicators of a brand new product cycle coming to life from the ashes.”
The crypto investor additionally just lately stated that Solana, in addition to Bitcoin (BTC) and Ethereum, are unlikely to make new lows in 2023 and that their long-term uptrend will proceed into the approaching two years.
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