Coin Bureau unveils realistic price potentials for Solana (SOL) and Algorand (ALGO)
The high-prominent pseudonymous trader from Coin Bureau shares with his subscribers realistic price analysis of the two large-cap altcoins Solana (SOL) and Algorand (ALGO).
While ALGO historical price movements are not very impressive, the crypto KOL is expecting this altcoin to reach a new ATH in the coming weeks:
“ALGO recently pushed past its ICO price of $2.40 cents, and though it was quickly pushed down as investors took profits. I believe that ALGO could reach new all-time highs in the coming weeks.”
The analyst also highlights that ALGO has not reached its desired price potential yet because of the accelerated vesting and structured selling schemes that result in a constant increase in ALGO supply which has historically suppressed its price.
Besides, while having a considerable market cap already, Coin Bureau host believes ALGO still has strong potential to pump at least 3x to become a top 10 crypto asset:
“ALGO could easily become a top 10 cryptocurrency by market cap, especially once all the selling from its accelerated vesting is over. This would correspond to about a 3x to 4x increase in price, which is a realistic long-term explanation, and just to clarify, by long term, I mean one to two years.”
Despite having an aggressive vesting schedule like Algorand, Solana went on a different price rail and experienced exponential growth since the start of its trading. According to the trader, SOL price should have collapsed when 95% of its allocated supply was unlocked on January the 7th, but this did not happen:
“I’m not entirely sure why, but it’s likely a combination of the long-term vision of Solana’s investors and some sort of coordination between them to make sure their selling does not crash the price of SOL.”
In terms of the future price potential, as SOL has already possessed a large market cap, in the long run, the trader expects SOL to rise about 2x and reach a high of $300. As of the short-term movement, the analyst says that SOL would come back to its ATH of $220 in the coming weeks.