Market Analyst Shares Coded Bitcoin (BTC) and Solana (SOL) Price Predictions

Market Analyst Shares Coded Bitcoin (BTC) and Solana (SOL) Price Predictions

PENGY May 20, 2024, 6:02 pm Facebook Twitter


Market Analyst Shares Coded Bitcoin (BTC) and Solana (SOL) Price Predictions

A top market analyst recognized on X as Ansem has shared coded predictions for Bitcoin (BTC) and Solana (SOL) prices.

The Bitcoin and Solana Price Expectation

The Ansem claims come at a time when the price of Bitcoin has reclaimed the $68,000 level for the first time since early April. In Ansem’s post, he shared the Bitcoin/USD chart and marked the $94,000 to $102,000 price range, suggesting the coin could attain such height.

This projection is in line with other top analysts’ predictions for the coin. Financial veterans like the Author of “Rich Dad Poor Dad” Roberts Kiyosaki even predicted Bitcoin may soar as high as $300,000 this year. At the time of writing, Bitcoin is changing hands for $68,182.81, up by 2.1% in 24 hours. Prior to this current breakout, the price Bitcoin has maintained consolidation from the monthly low of $56,555.29 and the current level.

Whether or not this current breakout spells a more ambitious rally ahead remains to be seen. Also, Ansem is positive on the price of Solana as he projected that the coin has what it takes to return to its All-Time High (ATH). While the analyst did not state this projection categorically, he noted that there’d be no more “tweets until Solana is at all-time highs.”

Solana last attained an ATH of $260.06 on November 6, 2021. Since then, the coin has not come close to breaching this high amid FTX-associated selloffs. At the time of writing, Solana is priced for $180.02, up by 7.07% in 24 hours. Should Solana continue on this trajectory, chances are it might retest the ATH in the medium term.

Fundamental Boost for BTC and SOL

While the projections from Ansem did not come with much technical or fundamental backing. However, both the Bitcoin and Solana ecosystems have enough viable fundamentals that can drive their growth overall.

Spot Bitcoin ETF have continued to gain immense attention following the form 13-F filing season. With many institutions across the US, UK and Jersey backing the new product, its capital injection is growing. With the last Bitcoin halving further shrinking the supply of the asset, its potential growth track remains high.

For Solana, the protocol has surmounted its congestion woes with a major fix deployed on the mainnet. At the moment, Solana remains one of the fastest blockchain protocols with growing ecosystem and utility. This creates a unique upside for its price.

Read More: Litecoin Price Analysis: LTC Eyes $100 Mark Amidst Strong Whale Accumulation

The post Market Analyst Shares Coded Bitcoin (BTC) and Solana (SOL) Price Predictions appeared first on CoinGape.

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