Crypto Analyst Bluntz’s Positive Outlook on Solana (SOL)
Crypto analyst Bluntz, renowned for accurately predicting Bitcoin’s bottom in 2018, recently shared insights that are likely to excite investors regarding the future price of Solana (SOL) in X.
Solana Coin Reviews
Bluntz, known for his accurate predictions about Bitcoin, notably forecasted a $3,000 bear market bottom for Bitcoin in 2018. In his latest analysis, he asserts that SOL will continue to outperform Bitcoin (BTC), the pioneer of cryptocurrencies.
Expressing full confidence in SOL’s upward trajectory, Bluntz emphasized the significance of the SOL/USD chart in his analysis. According to the chart, he highlighted indicators pointing towards a potential 40% rise.
Bluntz’s price prediction relies on Elliott’s wave theory, a concept revolving around repeating fractal wave patterns influenced by participant psychology. Elliott’s wave theory, originating in the mid-1930s, gained prominence after accurately predicting the stock market’s bottom in 1935.
The theory is based on a 5-wave movement, comprising three corrective waves and two directional waves, crucial for predicting cryptocurrency prices.
Solana (SOL) How Many Dollars?
At the start of 2023, Solana experienced significant market movements alongside other altcoins following Bitcoin’s rise. Despite this, it outperformed Bitcoin and many other altcoins in terms of price rise, achieving an astounding 464% increase in value since the beginning of 2023, according to CoinGecko data.
In the last month alone, SOL witnessed an impressive 74.8% increase, currently trading at $71.32 with a 1% price drop in the last 24 hours.
With a market cap of approximately $31 billion, Solana is the sixth-largest crypto project, generating a trading volume of around $3 billion in 24 hours.
The remarkable growth in Solana’s DeFi ecosystem, combined with the increase in real-world applications, positions it among the top projects in the DeFi field.
Disclaimer: The information provided in this article is not investment advice. Investors should be aware that cryptocurrencies are subject to high volatility and should conduct their transactions based on their own research.
