LONG TERM CRYPTO VIEW
The crypto bull run has begun and with the BTC halving coming in 2024, it's just a matter of time before BTC hits new highs and altcoins follow.
BTC is, of course, the bellwether of the crypto market but it is not my biggest position. I am heavily weighted to Solana as I believe it will act how Ethereum did in the previous 2021 peak cycle. Solana is a similar "platform-type" cryptocurrency like ETH that allows for applications to be built upon it, but the network is far superior. Transaction fees are lower, speed is higher, and I believe SOL has the scalability to compete with ETH in the long run. I am not suggesting SOL will overtake ETH's market cap any time soon because ETH will rise in a bull run too. ETH's market cap is about 10.6x that of SOL. If my predictions for the bull run peaks are accurate, this will decline to about 3.75x as SOL outperforms ETH by 3x in the coming cycle.
The charts here are a logarithmic analysis and if I'm correct about Sol being the ETH of this cycle, we should see a $1200 peak, give or take. $600 minimum and up to $2500 wouldn't surprise me. Crypto can surpass even your wildest expectations.
In the short term, I expect a BTC consolidation and maybe a local top when ETF approval hits.
Best of luck out there.
The crypto bull run has begun and with the BTC halving coming in 2024, it's just a matter of time before BTC hits new highs and altcoins follow.
BTC is, of course, the bellwether of the crypto market but it is not my biggest position. I am heavily weighted to Solana as I believe it will act how Ethereum did in the previous 2021 peak cycle. Solana is a similar "platform-type" cryptocurrency like ETH that allows for applications to be built upon it, but the network is far superior. Transaction fees are lower, speed is higher, and I believe SOL has the scalability to compete with ETH in the long run. I am not suggesting SOL will overtake ETH's market cap any time soon because ETH will rise in a bull run too. ETH's market cap is about 10.6x that of SOL. If my predictions for the bull run peaks are accurate, this will decline to about 3.75x as SOL outperforms ETH by 3x in the coming cycle.
The charts here are a logarithmic analysis and if I'm correct about Sol being the ETH of this cycle, we should see a $1200 peak, give or take. $600 minimum and up to $2500 wouldn't surprise me. Crypto can surpass even your wildest expectations.
In the short term, I expect a BTC consolidation and maybe a local top when ETF approval hits.
Best of luck out there.
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart