Renowned macro guru and Real Vision CEO Raoul Pal recently shed light on what he considers the dream scenario for Solana (SOL), a potential rival to Ethereum (ETH). Pal's optimistic prediction, shared during an interview with InvestAnswers, suggests that Solana could be on the precipice of a considerable price surge, similar to Ethereum's dramatic rise after its low in 2018.
Solana: Following in Ethereum's Footsteps?
Ethereum, the leading altcoin, experienced a remarkable 47-fold increase from its 2018 low. Pal believes that Solana, a scalable high-performance blockchain, could emulate this feat. At the time of his statement, Solana was trading at $21.84, a modest increase of 1.48% in the last 24 hours.
"There's a potential, a possibility of a dream scenario that Solana does what ETH did from the 2018 low, which was a 47x," said Pal. "And so, the Solana low was $9, so you could do the math, the numbers are potentially very interesting – that it'll be 20-something X from here for Solana."
Taking Pal's prediction into account, if Solana does experience a similar 20-fold increase from its current price, it could reach a staggering valuation of approximately $436 per coin.
The Future of Bitcoin
Aside from his bullish outlook on Solana, Pal also weighed in on Bitcoin (BTC), predicting that the original cryptocurrency could at least double or triple from its all-time high. This conservative estimation, in Pal's opinion, would constitute the worst bull run in Bitcoin's history.
"It's very difficult to predict where it actually goes, but what we can say is it’s reasonable that Bitcoin, from all-time highs, doubles or triples. That’s not asking a lot. That will be the worst bull market in Bitcoin’s history," Pal said. At the time of the interview, Bitcoin was trading at $30,321, a marginal increase from the previous 24 hours.
However, Pal does not discount the possibility of an upside beyond his conservative estimate. He adds, "It probably triples from the all-time high and currently it’s at $30,000 so that’s a 6x from here. That’s pretty good. And the upside is maybe I’m totally wrong and it gets complete panic to the upside..."
An Uncertain Economic Future
While optimistic, Pal admits the difficulty in making precise predictions due to the inherent uncertainties of the future economy, specifically leading up to 2025. Despite these uncertainties, he believes that there could be significant potential upside.
"We don’t know what’s going to be happening in the economy in 2025, what could be driving prices, so I think you [can] get the upside for free," Pal concluded.
To summarize, Pal's dream scenario paints a positive picture for both Solana and Bitcoin. It reflects the speculative nature of the cryptocurrency market and the potential for massive growth. However, as always, investors should consider these predictions with caution and conduct thorough research before making any investment decisions.