Raoul Pal says Solana (SOL) could skyrocket to above $400
Raoul Pal, CEO of Real Vision is super bullish on Solana (SOL).
According to Pal, SOL could rally 20x from current levels if it mirrors Ethereum’s 47x move from its 2018 low.
He also says Bitcoin price could triple from its all-time high level amid a supply crunch in 2023.
Raoul Pal, the founder & CEO of Real Vision suggests Solana (SOL) could embark on a massive price move. If the “dream scenario” for the world’s 10th largest cryptocurrency by market cap occurs, SOL could outperform both Bitcoin (BTC) and Ethereum (ETH).
Pal shared his massively bullish outlook for Solana during a recent interview in which he shared views on varied topics. These include AI and its impact on jobs, BlackRock’s ETF filing and CEO Larry Fink’s remarks about BTC.
He also aired his thoughts on the Ethereum/Bitcoin flippening debate, central bank digital currencies (CBCDs), global economy and government money printing before briefly offering his price prediction Solana. The macro guru also shared predictions for Bitcoin and Ethereum.
Solana price prediction
On what he thought of the price performance of BTC, ETH and SOL in the next bull cycle, Pal shared a highly bullish projection for Ethereum’s “competitor.”
Currently, Solana trades around $21, about 1.4% down in the past 24 hours.
However, the cryptocurrency is more than 10% in the green over the past seven days and 43% in the past 30 days. While it’s also down 43% from its value a year ago, Pal noted that the bottom might have come when prices fell to around $9 in December 2022.
With this outlook, Pal suggests SOL could do what ETH achieved after bottoming in 2018 – roaring to its all-time high above $4,800 during the last bull market. The macro guru says that if Solana takes on this projection, the potential gains could be staggering.
He compared the 47x that ETH saw after the 2018 low to what Solana could do. He opined:
“Look… there’s a possibility – a dream scenario – that Solana does what ETH did from the 2018 low which was a 47x. The Solana low was nine bucks, so you could do the maths [and] the numbers are potentially very interesting.”
While Solana’s price might not do the 47x or so that Ethereum price managed since its bottom in 2018, Pal predicts a “20 something x” move. According to him, this is a reasonable outlook for a protocol that’s battle-tested and is seeing a huge spike in network and ecosystem activity.
Should Pal’s bullish outlook for SOL price hold, it would mean an eventual burst to prices above $400 for the cryptocurrency. In the last bull market, Solana rose to the all-time high at $260.
Bitcoin and Ethereum price predictions
For BTC and ETH, Pal agreed with projections of a 3x and 5x respectively – suggesting Bitcoin could more than triple its value during the next bull cycle. However, that is from the all-time highs that was $69,000 in November 2021.
Trippling from that ATH would mean a 6x from current prices, he opined. But that would depend on severa factors that could dictate market direction.
“It’s very difficult to predict where it actually goes, but what we can say is [that] it’s reasonable that Bitcoin from all-time highs doubles or triples. That’s not asking a lot. That will be the worst bull market in Bitcoin’s history.”
According to him, a potential supply crunch in 2023 is what could squeeze Bitcoin to a new all-time high.
