A well-known crypto analyst has shared his insights on where the prices of Bitcoin (BTC) and Solana (SOL) could reach in the current market cycle. The analyst, who hosts InvestAnswers on YouTube with over 552,000 subscribers, believes that both cryptocurrencies have the potential for significant growth in the coming months.
Starting with Bitcoin, the analyst has raised his price target to $136,000 from $120,000, with a super bull target of $154,000. He attributes this potential surge in price to the demand-supply dynamics of Bitcoin, emphasizing that if the current demand continues, these targets are easily achievable. The analyst also predicts that spot ETFs will add around $48 billion to Bitcoin in 2025, building on the momentum seen in 2024. Based on historical patterns, the analyst expects Bitcoin to peak in Q3 or Q4 next year.
At the time of writing, Bitcoin is trading at $94,882, showing a slight increase over the last 24 hours. Moving on to Solana, the analyst has set two targets for the Ethereum rival. His conservative target for Solana is $332, with a bullish target of $361. However, he notes that Solana could potentially reach $500, given the increasing adoption and the potential impact of ETFs. Solana is currently trading at $193.42, showing a 5.18% gain in the last 24 hours.
For crypto enthusiasts looking to stay updated on market trends and price movements, the analyst recommends subscribing to email alerts for timely updates. Additionally, readers are encouraged to follow The Daily Hodl on social media platforms such as Twitter, Facebook, and Telegram for more insights and news. The article also includes a mention of Midjourney as the generated image source.
Overall, the analyst’s predictions for Bitcoin and Solana paint a positive picture for investors, with both cryptocurrencies expected to see significant growth in the near future. As the market cycle progresses, it will be interesting to see how these predictions play out and whether Bitcoin and Solana can reach the projected price targets.