Over the past several weeks, Ethereum’s competitor Solana (SOL) rose to $30 before backtracking nearly 20%. Looking at the impressive SOL graph one analyst predicts it will shoot more than 10X by 2025 but with a word of caution. While the bullish projections seem to be hype in the current bear market, it will be interesting to see his reasons behind the altcoins surge. Let’s read the analyst projection.
A prominent crypto analyst known as Inmortal shared his predictions in a series of posts on platform X, for the prices of several cryptocurrencies in the future, specifically focusing on Solana (SOL), Chainlink (LINK), and Bitcoin (BTC).
Solana Price
Inmortal’s optimistic outlook for Solana (SOL) stems from its status as a strong Ethereum (ETH) competitor. The analyst forecasts a remarkable rally of over 10 times its current value by 2025. One of the reasons for this positive outlook is Solana’s impressive track record, boasting 100% uptime and no outages reported over the last quarter, which adds credibility to the prediction.
However, potential investors should note that the growth path might not be entirely smooth, as Inmortal suggests a short-term dip below the $20 mark before resuming its upward trajectory.
Such volatility is characteristic of the crypto market, and investors should exercise caution and conduct thorough research before making investment decisions.
ChainLink Price
The analyst is keeping a close watch on Chainlink (LINK), a decentralized oracle network. Based on his analysis LINK will experience a substantial upward movement after more than a year of accumulation. That’s the reason the analyst thinks that LINK is undervalued, and based on his chart analysis, he predicts a potential rally close to $20 in the future. At the time of his prediction, LINK is trading at $7.59.
Bitcoin Price
Last but the least, regarding Bitcoin (BTC), analysts foresee that it will likely revisit its all-time high (ATH) of around $69,000 during the second half of 2024 if it follows a similar pattern to its previous market cycles. Since it has already passed 250 days from the last bottom.
He points out that the mid-cycle rally should be over by the time of his prediction, leaving approximately 467 days to reach the previous ATH levels.
In the short term, he believes Bitcoin will rally due to a short squeeze, which is a situation where traders who bet on a price decrease are forced to buy back the assets they borrowed, leading to further price increases. The analyst sets his sights on $30,400 as a potential target for this short squeeze. At the time of the prediction, BTC is valued at $29,117.
Source: https://coinpedia.org/price-analysis/crypto-market-analysis-heres-what-next-for-bitcoin-btc-solana-sol-chainlinklink-price/