Former Goldman Sachs executive Raoul Pal believes Solana (SOL), a competitor to Ethereum (ETH), could see a massive price surge this cycle.
In a new interview on the Empire podcast, Pal predicts that Solana will return around 900% in the coming months.
“The whole space is going to go up a lot (over the next 12 months). I think Solana is going to go up 10x from here, Bitcoin is going to go up 5x or 4x from here. That’s the kind of stuff that’s typical of a bull market.”
As of this writing, Solana is trading at $154 and Bitcoin (BTC) is trading at $61,963.
According to Arm, Bitcoin could peak between $248,000 and $310,000 in this cycle.
Arm also said it wouldn’t be surprising if other Layer 1 projects suddenly took over the top spot in the market.
“The most important thing I started thinking about is that there’s always going to be another layer 1 race. It’s early days, it’s not a proven network effect. That bet is actually a good bet. It’s not an all-in bet. But that bet was the Solana bet last cycle, the ETH bet the cycle before…
So I think about it, there are some really good trades out there, and they’re really fun, but they go very quickly, and they’re usually overvalued and then they go down 95% after that.”
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