Cryptocurrency analyst and trader Michaël van de Poppe plans how tall you are Ethereum (ETH)-Competitor may leave after the altcoin experienced explosive growth in 2021.
In a recent strategy meeting, Van de Poppe told its 157,000 YouTube subscribers that the Layer 1 smart contract platform Solana (SOL) Ethereum takes advantage of some of the platform’s limitations, such as high transaction costs and scalability issues.
The crypto strategist believes the overall crypto markets look bullish through 2022, and if Solana can successfully break out of the $ 193 region, then the altcoin will break past all-time highs.
“The two levels that I personally watch cost $ 410 and $ 650 in the first few runs.
We could also see an above-average run for Solana here, in which we do this run, another correction and then start running all over again before the entire bull market is over, resulting in a run that may lead us towards … let’s say we can even hit $ 1,000 or $ 1,500 and then we’re at the end of this Bull cycle. “
Van de Poppe concludes his upside forecast by saying that while he believes that $ 600 of SOL is possible during the current run, the broader crypto markets would need to hit 5x before SOL hits $ 1,000.
At the time of writing, Solana is down 3.42% to $ 190.48 for the day. The fifth-placed crypto asset turned ballistic this year, climbing from $ 1.52 to a November high of $ 258.63 before correcting to its current price.
The chart guru thinks that there is no reason why Solana cannot compete 3 times against Bitcoin (BTC) if the crypto markets continue to expand.
Regarding the SOL / BTC trading pair, the analyst says:
“When I look at a price prediction, I think that if the market expands toward $ 10-15 trillion, another quintupling should also be quite normal for Solana, as this is just the average for the entire market.
But if we are one Fibonacci“Look at the extension, we could see ourselves heading towards 0.0071 BTC ($ 352.62), or possibly even 0.012 BTC ($ 595.97).”
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Source: Crypto News Deutsch