Godfrey Benjamin
Raoul Pal shares hot Bitcoin, Ethereum and Solana predictions amid ATH frenzy
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Legendary trader Raoul Pal has doubled his forecast for the trio Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
How high can Bitcoin go?
In a YouTube chat with Anthony Scaramucci, Raoul Pal noted that he believes Bitcoin price can end this current cycle with a massive price of $250,000. To put this into perspective, Bitcoin price is actively in discovery mode and has just recorded another all-time high (ATH) above $71,000 as optimism surrounding the coin continues.
Despite the $250,000 price target, Raoul Pal is not convinced that this is the best the digital currency can do. He noted that the valuation could be higher depending on the trend in the spot Bitcoin ETF ecosystem.
The spot Bitcoin ETF continues to be the dominant catalyst driving BTC price to new heights. Daily accumulation by spot Bitcoin ETF issuers, including BlackRock, Fidelity Investments, Ark Invest and Bitwise, significantly exceeded the amount of BTC generated by mining.
While an average of 5,000 to 10,000 BTC are being stacked daily, only about 900 BTC are being generated in total, creating a significant supply shock that could help drive the price toward the estimated $250,000 in the long term.
Ethereum and Solana are aiming high
In addition to the Bitcoin forecast, Raoul Pal predicted a $17,000-$20,000 rally for Ethereum this bull cycle, while noting that Solana could rise to $700-$1,000.
While the Ethereum and Solana duo have not retested their respective ATHs at $4,800 and $260 in this ongoing uptrend, Raoul Pal has consistently highlighted their fundamentals as a key catalyst that can drive growth in the long term.
Other analysts have even more optimistic predictions for Bitcoin as well as Ethereum and Solana, and time will tell how much the three digital currencies will grow in this bull cycle.
About the author
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for cryptocurrencies was born when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. Due to his extensive experience in various aspects of Web3, Godfrey's articles have been published on Blockchain.news, Cryptonews and Coingape, among others.
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