He explained, "If we pair up a Trump win and increase macro liquidity, I will instead sell over time for as long as I believe we hit $500.” The rationale behind the $500 price target is anchored in Solana’s fully diluted valuation (FDV).@0xGumshoe articulated, "At that price, Solana would have a $291B FDV which would put it at the current ETH market cap.” He views this valuation as a significant benchmark, suggesting that Solana’s price could approach Ethereum’s market capitalization unless there is a substantial influx of investments through ETFs, which could propel the token beyond this threshold.
Related Reading: Solana Q3 Digest: Total Value Locked Hits $5.7 Billion, Ranks Third Among Networks However, a Trump victory could also have downsides.@0xGumshoe acknowledged that "higher inflation could eventually end the cycle like in 2021.” Furthermore, he noted Trump’s inherent volatility, stating that the former president "may not do what he promised,” which introduces an element of unpredictability to the projections.
Under the Harris administration, @0xGumshoe’s price target for Solana remains at $300.@0xGumshoe concluded his analysis by advising caution, stating, "The elections alone are not enough to predict tops for Solana so take this with a grain of salt.
The story "Solana Expected To Reach $500 By Bull Run’s End, Says Crypto Analyst" has 583 words across 69 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Solana Expected To Reach $500 By Bull Run’s End, Says Crypto Analyst" was covered 21 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 4 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.