Raoul Pal Says ‘Battle-Tested’ Cryptocurrency Solana Could Climb 47x; Is $1000 Incoming for Ethereum Competitor?
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Raoul Pal, the founder and CEO of Real Vision and Global Macro Investor, recently updated his price predictions for Bitcoin, Solana, and Ethereum. He describes them as proven and battle-tested assets. He forecasts that Bitcoin could see a 2x to 3x increase from its all-time high of $69,000.
As reported by Savvy Finance, Pal is even more optimistic about Solana. He predicts its native token could surge by up to 47x from its last cycle’s lows, reaching $750 to $1,000 per coin. He is similarly bullish on Ethereum, explaining that it will easily surpass new all-time highs before the bull market concludes in 2025.
He said that he expects some market fluctuations in the near term, but he believes the Solana-Ethereum (SOL-ETH) chart will break higher and go higher later in the year. He expects Solana to double or triple Ethereum’s performance, driven by increased usage and the development of Fire Dancer.
“If you go back to 2020, Ethereum started basing and then began outperforming from about the summer onwards. It really started picking up towards the end of 2020, and then by 2021, it went ballistic, you know, it went into full banana mode. I think we’ll see something similar,” he added.
While NFTs fueled Ethereum’s last major surge, he thinks usage is key regardless of the form it takes. These early-stage uses, like meme coins now or NFTs previously, serve as testing grounds for new technology. He also speculated that we might start seeing the rise of social tokens, which he has discussed for some time.
“My guess is 90% of the people who are in meme coins now were in NFTs last time around. Don’t forget you could do NFTs on Solana for virtually nothing, so don’t confuse this with the end of NFTs. Somebody’s going to come up with another use for a non-fungible token, whether it’s specific artwork or something culturally relevant that works in the same way as a meme coin, and you can buy them for nothing,” he said.