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 relies on the belief that Solana will attain a worth double its all-time excessive of about $260 recorded in November of 2021.
“Assumes SOL goes no less than 2x former all-time excessive, which I believe seemingly, however can all the time be fallacious.”
Solana is buying and selling at $19.61 at time of writing and must respect by roughly 2,551% to succeed in Burniske’s envisaged worth of $520.
Earlier this month, the crypto investor predicted that Solana is more likely 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 lately mentioned 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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