The cryptocurrency market has entered one other extremely bullish section. Bitcoin (BTC) climbed to a brand new all-time excessive of $81,800 earlier at this time. The worldwide crypto market cap can also be inching nearer to the $3 trillion mark. Solana (SOL) and different crypto belongings comply with BTC’s trajectory, hitting new yearly highs.
SOL has rallied by 2.7% within the every day charts, 30.8% within the weekly charts, 19.7% within the 14-day charts, and 44.9% over the earlier month. The asset’s worth has additionally risen by 285.25% since November 2023.
The newest market rally is probably going attributable to Donald Trump profitable the US Presidential election. Traders and market individuals could have taken bets on Trump’s pro-business and pro-crypto stance.
Will Solana Hit $300 If Bitcoin Reaches $100,000?
Solana (SOL) is at present down by nearly 19% from its all-time excessive of $259.96. Hitting $300 will probably be a brand new peak for the asset. To achieve $300, SOL has to rally by 42.18% from its present worth ranges.
In accordance with the analysts at CoinCodex, SOL will proceed its bullish trajectory over the subsequent few days. The platform predicts SOL will commerce at $240.82 on Dec. 9, 2024.
However, CoinCodex predicts BTC will breach the $100,000 mark on Dec. 4, 2024. Going by CoinCodex’s evaluation, SOL is not going to hit $300 when BTC hits $100,000.
In accordance with Changelly, SOL will breach the $300 mark in November 2026, about two years from now.
Telegaon analysts are extra bullish on SOL than Changelly. The platform anticipates SOL to breach the $300 mark in 2024. Regardless of the bullish forecast, Telegaon doesn’t make clear the month when SOL could hit this degree.
