Senior Analyst Says Ethereum Competitor Solana (SOL) Should Be More Valuable, Believes Crypto Markets Won’t Reconsider Falls
A popular crypto analyst says he is bullish on smart contract platform Solana (SOL) while making a call with high conviction that Bitcoin (BTC) has crossed the lowest point in a bear market.
In a new YouTube video, anonymous host InvestAnswers tells its 443,000 subscribers that current metrics are that Ethereum (ETH) competitor Solana is undervalued.
“When I compare Solana to Ethereum, it should be a lot higher, technically, on a relative value basis. And again, we’re just looking at the data here. We look at the quantities, we look at the metrics, we scale everything. That’s how we go about it. Decisions. Nothing about feelings or how people feel or what kind of religion or tribe they belong to. We just look at the data.”
On Bitcoin, the analyst says the influx of funds from institutions and the “world’s smartest allocators of capital” indicates that Bitcoin has already crossed the bottom of its recent bear market. The host says he is 80-90% sure that BTC will not reconsider its recent lows.
Bitcoin is trading at $24,148 at the time of writing. The top-rated crypto asset by market capitalization has fallen by about 0.6% in the past 24 hours.
SOL is trading at $43.87 at the time of writing. The ninth-placed crypto asset by market capitalization has fallen by more than 2.5% in the past 24 hours.
Don’t miss out – sign up to get encrypted email alerts delivered straight to your inbox
Check price action
Follow us TwitterAnd Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock / eliahinsomnia / Tun_Thanakorn