- Raoul Pal’s forecast about Solana reaching ATHs against Bitcoin has sparked interest.
- SOL’s price declined by over 2% in the last 24 hours.
Forecasts from notable figures have a way of stirring excitement within the cryptocurrency community. Recently, renowned macro investor and crypto analyst Raoul Pal has caught the attention of many with his intriguing forecast about Solana [SOL].
Taking to social media platform X, Pal the founder and CEO of Real Vision Group, noted,
“Next aim for SOL is the all time high vs BTC, having just broken its all time high vs ETH…”
This prediction has stirred discussions and ignited curiosity about the potential future trajectory of Solana in the crypto market.
The correlation of Pal’s prediction
As SOL’s price experienced a downturn amid broader market volatility, Pal’s prediction gained attention for its boldness and timing.
The decline in SOL’s price occurred in tandem with a broader market correction, prompted by Bitcoin’s retreat earlier in the week and significant withdrawals from Grayscale’s GBTC.
Amidst this backdrop, SOL saw a notable drop, tumbling by as much as 15% alongside other major cryptocurrencies. However, amidst the market turmoil, long liquidations on Solana amounted to $26 million, reflecting the impact of the price decline on traders’ positions.
However, speaking in favor of Solana, pseudonymous crypto analyst @MartyParty added,
“Solana is blowing past Bitcoin. This will bring more validators to Solana looking to participate.”
He further urged,
“You are here right now, early in Solana. Don’t sleep on this opportunity or get blinded by the uninformed.”
This emphasizes the early stage of involvement in Solana and the importance of staying informed to seize opportunities.
Do Pal’s predictions hold significance?
Back on 13th March, Pal forecasted a significant rally for SOL against Ethereum [ETH], highlighting a breakout potential after a period of consolidation. He noted,
“SOL/ETH is looking like a breakout after a perfect consolidation… SOL is likely to take the lead again soon.”
His foresight proved prescient as Solana surged against Ethereum, marking a seven-day winning streak and reaching an all-time high of 0.059 ETH on 18th March.
Thus, as SOL continues to make waves in the crypto space, these insights remain closely watched for their potential impact on market dynamics.
