The host of popular crypto analytics and market commentary show Coin Bureau is bullish on the outlook for Solana ($SOL) saying that the altcoin could potentially double in price if the current rally continues.
Speaking in a recent YouTube update, Coin Bureau’s host “Guy” told viewers that he has been keeping an eye on $SOL and its “interesting” price action during the current altcoin rally. Guy predicted that $SOL could potentially double in price if the current trend continues, which has driven a small recovery in the crypto markets.
While he admitted that a doubling in price for Solana “doesn’t sound like much,” he did highlight that the coin’s price appreciation would eclipse that of other larger cap cryptoasstes.
He also noted the influence of FTX CEO Sam Bankman-Fried commenting that Solana was potentially underrated.
As reported by The Daily Hodl, Guy said,
That’s why there’s some legitimacy to [FTX CEO] Sam Bankman-Fried’s remark that Solana is underrated. There’s some more evidence to suggest that SOL could see a serious rally if the current crypto market momentum continues.
The show’s host pointed to a trend in $SOL’s trading pair against $ETH, which typically goes on a one-to-three week rally following a period of relative value loss.
Guy also tackled the influence of Ethereum’s upcoming Merge upgrade in September, which will shift the Ethereum blockchain fully from Proof-of-Work to Proof-of-Stake. Coin Bureau’s host said that some investors are betting on Ethereum experiencing glitches and other errors during the transition, leading to a bump in interest for smart chain rivals such as Avalanche ($AVAX) and Near Protocol ($NEAR).
