Venture capitalist Chris Burniskey believes Solana (SOL) could soar to a four-figure price in this market cycle.
The former head of crypto at ARK Invest told his 296,900 followers on social media platform X that Solana’s bull market price target of $1,000 may be “conservative.”
Burniske’s outrageous price target for Solana comes after a poll he conducted on X found that investors on the platform were overvaluing SOL. Earlier this week, Burniske asked his followers which of the three assets they held the most: Bitcoin (BTC), Ethereum (ETH), or Solana?
In a survey with 21,945 votes, SOL received 35.4% of the votes, followed by Bitcoin at 22.9% and Ethereum at 19.9%.
According to Burnisk, the fact that Solana has been the first choice of thousands of investors among the large coins suggests that SOL has the potential to be extremely popular with new market entrants.
“What’s interesting about the results so far is that CX (Crypto-X) appears to be a gathering place for crypto enthusiasts, which then spread to the public and capital allocators.
The fact that CX is overweight SOL means that the virus will spread much more in the future.”
At the time of writing, Solana was trading at $178.
Burniske is also bullish on the Layer 1 crypto project Celestia (TIA). The investor says that if people understand Celestia’s unique value proposition, they won’t be too worried about the current altcoin correction.
“If the price of TIA had fallen and lost its bullish appetite, I probably wouldn’t have jumped into Celestia Org. Enough to start with. TIA is still up 2-3x from the listed stock. If you bought the local top, it is your responsibility, and the decline is an opportunity to average down.”
At the time of writing, TIA is trading at $5.48, down more than 73% from its all-time high of $20.85 hit in February of this year.
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