Popular crypto channel Coin Bureau shares his price expectation for Solana (SOL) in the long-term and predicts this altcoin to follow Ethereum price movement in 2017.
According to the trader, SOL has gone up by nearly 10x over the last six months. As of now, SOL appears to be in the middle of painting a bull flag on the month in which the analyst predicts to see a 290 to 300 SOL in the next month or two.
However, the trader shares some of his concerns regarding the remaining upside cap for Solana:
“The thing is that Solana has probably seen most of its growth for this bull market in percentage terms. Solana’s market cap is closing in on 100 billion, and though it will likely overtake BNB at some point, it’s questionable whether it can edge Ethereum out of that second-place position.”
Coin Bureau adds:
“It is quite possible that we will see ETH follow the same trajectory of BTC in 2017 and SOL followed the trajectory of ETH in 2017.”
The crypto KOL shares that in addition to all the retail adoption and institutional attention Solana has seen, it offers one thing that investors across the board are begging for, and that is yield.
“As I mentioned in my post about Fidelity’s crypto report, big investors want assets that generate yield, and this is a big part of why they prefer stocks and bonds to gold and Bitcoin.”
The fact is that Solana offers a 7% annual return on staking rewards, and though it is much less secure than Ethereum, Coin Bureau says that the underlying asset has more upside potential, which probably makes the added risk worth it in the eyes of some institutional investors.
In terms of long-term price potential, assuming Bitcoin hits 100K, and Ethereum hits 10K as many people expect, the trader shares that this could give Solana enough wiggle room to hit $1,000 dollars.
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