Former Goldman Sachs executive Raoul Pal believes Ethereum (ETH) competitor Solana (SOL) could see a massive price explosion 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 market is going to go up a lot (in the next 12 months). I think Solana is going to go up maybe 10x from now, and Bitcoin is going to go up 5x or 4x from now. That kind of thing is a typical bull market.”
Solana is trading at $154 at the time of writing while Bitcoin (BTC) is priced at $61,963.
According to Pal, Bitcoin could peak this cycle between around $248,000 and $310,000.
Pal also says he wouldn’t be surprised if another Layer 1 project suddenly emerged as one of the best projects out there.
“The main thing I start to think about is that there’s always another race to tier 1, which is early in the journey, when you don’t have proven network effects. That bet is actually a good bet. It’s not a bet that you’re going all in on. But that bet was the Solana bet last cycle, the ETH bet last cycle…
So I’m thinking about it because I think there’s a really good deal coming, and it’s a lot of fun, but it happens really fast, and the stock usually gets overvalued and then drops 95% afterward.
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