A closely followed crypto analyst is predicting where the price of Bitcoin (BTC) and Solana (SOL) will peak during the current market cycle.
In a new video update, the host of InvestAnswers tells his 552,000 YouTube subscribers that he’s expecting the top crypto asset by market cap to soar by at least 43% from current levels before the bull market expires.
“I’ve upped my Bitcoin price target to $136,000 from $120,000 with a super bull target of $154,000…
Bitcoin is a peculiar animal – it’s all based on demand and supply. If the demand continues as it does, yes, these targets are very easily achievable, which is hard to believe.
If you [were to] ask me this in 2023, I’d say ‘Whoa that’s bullish.’ Also, I do believe the spot ETFs (exchange-traded funds) will continue to add at least another $48 billion in 2025. That’s how much they added in 2024.”
According to the analyst, the crypto king should peak sometime in Q3 or Q4 next year, based on historical patterns.
“In 2015-2017, we peaked 518 days after the halving and in 2019 to 2021, we peaked 546 days after the halving, so taking an average of these, it’ll take us somewhere to [the] August to October time frame.”
Bitcoin is trading for $94,882 at time of writing, a fractional increase during the last 24 hours.
Moving on to Ethereum (ETH) rival Solana, the crypto strategist unveils his conservative and bullish targets for the layer-1 protocol.
“I’ve got two targets [for Solana] just like I do with Bitcoin. I’ve got my conservative sandbag target at $332 and my bull target at $361. Could it go to $500?
Yes, it could very easily, especially with ETFs and all the adoption that’s happening. All it takes is for somebody to really understand fundamental analysis and they’ll see that this chain is darn cheap.”
Solana is trading for $193.42 at time of writing, a 5.18% gain during the last 24 hours.
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https://dailyhodl.com/2024/12/29/heres-where-bitcoin-and-solana-will-peak-in-current-market-cycle-according-to-investanswers/
2024-12-29 15:30:11
