Experts have stated that Bitcoin, Ethereum and Solana can bring SOL’s price to $250 by the end of this year. BitMEX founder, Steven Bitmex has said that Solana is among the crypto’s big three. Arthur Hayes Recent discussions have discussed how Solana may benefit from the same market as its top two assets.
SOL’s price has remained at $145 for an extended period. It has dropped only 0.04% in the past 30 days, says CoinMarketCap. As a result, the company has tremendous growth potential. Hayes says that the stock could reach a new high during a bull market in 2024.
Please Read This: Solana: Meta AI’s 2025 Bold Solana Forecast: A Game-Changer?
SOL: How BTC and ETH can help SOL reach $250 by 2024
Solana has had a year of mixed results. Late in July, Solana’s asset reached a record high of $190. It was not a good sign. The crypto-flash crash on the 5th of August shook it to its core. This forced the asset down to a low of $10
It has made a nice recovery, but is currently in a phase of consolidation. Experts believe that Solana is set to gain, but they will be dependent on Bitcoin, Ethereum and other currencies.
Arthur Hayes is the former CEO of BitMEX as well as co-founder. blog post Explore this option. He noted that Solana might reach $250 but it would depend on the performance of two major cryptocurrencies. BTC must surpass $70,000 and ETH $4,000.
Please Read This: Solana’s Downfall: Will SOL Plunge to $120?
This is not as straightforward as you might think. Bitcoin hit an all time high of $73,000 back in March this year. It hasn’t reached the $70,000 mark since late May. Ethereum reached its last $4,000 in March this year.
The hope for increased activity at the moment is a positive one. Solana saw its trading volume increase 19% within the last 24-hours. The bullish mood could be driving a purchase spree as selling pressure is decreasing. The token may then target an increase of $160, or $180. It may be necessary to increase the work BTC or Ether can drive the value even higher.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru