Renowned macroinvestor and crypto analyst Raul Pal He sparked excitement in the cryptocurrency community with his recent prediction on Solana (SOL), the fourth-largest cryptocurrency by market capitalization.
Renowned macroinvestor and crypto analyst Raul Pal He sparked excitement in the cryptocurrency community with his recent prediction on Solana (SOL), the fourth-largest cryptocurrency by market capitalization.
Raoul Pal, founder and CEO of Real Vision Group, has predicted that Solana is on the verge of hitting all-time highs against Bitcoin. “SOL’s next target is the all-time high against BTC, having broken its all-time high against ETH,” Pal commented in a tweet.
This coincided with a time when the price of SOL was falling, making Pal’s forecast even more notable.
SOL price fell for the second day in a row following the Bitcoin price drop at the beginning of the week. Bitcoin began to fall late on Monday in the United States, with Grayscale’s GBTC recording record withdrawals of more than $640 million. Major cryptocurrencies plummeted, with SOL falling as much as 15%.
While long bets on Bitcoin lost $135 million in the last 24 hours, long liquidations on Solana amounted to $26 million, according to glass coin Statistics.
At the time of writing, SOL was down 13.33% in the last 24 hours to $177, although it was up 16% on a weekly basis.
Pal, known for his macroeconomic insights, previously predicted an impressive Solana rally against Ethereum on March 13: “SOL/ETH looks like a breakout after a perfect consolidation. SOL is likely to take the lead again soon.”
True to form, Solana gained steam in its Ethereum pairing, recording a seven-day winning streak that culminated in an all-time high of 0.059 ETH on March 18.
SOL also reached new yearly highs of $209 on its USD pair on March 18 before profit-taking occurred.
