Bitcoin recently broke its previous record to $71,600 after the U.S. spot Bitcoin exchange-traded fund was approved on January 11, 2024. Raul Pal, founder of Real Vision, has proposed a bold target for Bitcoin, predicting it will be close to $250,000 by the end of this cycle. However, his optimism is not limited to Bitcoin, but also includes Ethereum and Solana.
For Bitcoin, Pal said that with the supply halving, the demand from ETF holders has increased, and he predicts that Bitcoin will rise further to more than $250,000. As for Ethereum, he is optimistic and expects its price to rise from
The current price of $4,030.1 has surged to $20,000. He based his speculation on factors such as Ethereum’s correlation with Bitcoin, the expected adoption of Ethereum ETFs, and the upcoming Cancun upgrade.
As of now, the price of Ethereum is $4,034, up 2% in the past 24 hours, with a current market value of $46.889 billion. For Solana, Pal assumes a bull market price target of $750 to $1,000. He is impressed by Solana's technical strength and believes that its operations will generate greater demand for SOL, further driving price increases.
Currently, Solana is priced at $148.3, well above its 20-day simple moving average of $120.69. Pal stressed that his forecast may be relatively conservative given the dynamics of the spot Bitcoin ETF market. As the Bitcoin halving event is about to happen, Bitcoin is facing increased demand from ETF holders amid a shrinking supply, and Bitcoin yields have fallen by 50%. Raul Pal's forecast has sparked high expectations and speculation as Bitcoin enters an active price discovery phase.
