A popular crypto analyst is setting 2022 price targets for a layer-1 blockchain protocol that’s flying high after breaking out last year.
In a new Q&A session, the host of financial education YouTube channel InvestAnswers tells his 389,000 subscribers where he thinks Solana (SOL) is headed over the next six months.
[adinserter block="1"]“I’m pretty confident we’ll see $400 or $450.
And if the market goes bonkers, it could go as high as $700…
I do expect a lot of activity to happen in the next one or two quarters, by June.”
A year ago, Solana (SOL) was priced under $2 and ended up reaching an all-time high of nearly $260 back in November. The altcoin is valued at $169.93 at time of writing.
The strategist also talks about entry points for leading smart contract platform Ethereum (ETH).
“Pick dips.
I do see things like Ethereum at $3,500 is a great price. We were down at $3,500 just on the 29th of December…
That’s a place where I would believe Ethereum is an extremely good value because it’ll 3x potentially over the next year or so, especially as it goes very deflationary with the launch of ETH 2.0.”
Ethereum 2.0, also known as Serenity, is an upcoming upgrade focused on increasing the network’s speed and scalability.
ETH also had a breakout 2021, rising over 400% from $730 to its year-end valuation above $3,700. The crypto asset is down slightly on the day and trading for $3,773.
The InvestAnswers host also weighed in on Bitcoin (BTC), saying that the top crypto is long overdue for a massive rally that should happen sometime between March and June.
“I always said we’d hit $98,000 Bitcoin during this bull run, [but] I didn’t realize it would be so delayed.
Between the China ban and the doldrums for 11 weeks, then a horrible September. December [was also] kind of sucky.
Now I do believe we will hit that $98,000… When I look at things like adoption, on-chain metrics, the big money is coming in Q1, the only way is up. And to double is nothing for Bitcoin…
I’m just going to put a line in the sand and that’s what I see: sometime by the end of March or June.”
Bitcoin is currently trading at $46,177.
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