A popular crypto analyst says he’s bullish on smart contract platform Solana (SOL) while making a high-conviction call that Bitcoin (BTC) is past the lowest point of the bear market.
In a new YouTube video, the anonymous host of InvestAnswers also tells his 443,000 subscribers that current metrics indicate Ethereum (ETH) competitor Solana is undervalued.
“When I compare Solana to Ethereum, it should be a lot higher, technically, from a relative value basis. And again, we just look at data here. We look at quant, we look at metrics, we measure everything. That’s how we make decisions. Nothing about sentiment or how people feel or what type of religion or tribe they belong to. We just look at data.”
On Bitcoin, the analyst says the flow of money from institutions and the “smartest capital allocators in the world” indicates Bitcoin has already passed the bottom of its recent bear market. The host says he’s 80-90% certain BTC won’t revisit its recent lows.
Bitcoin is trading at $24,148 at time of writing. The top-ranked crypto asset by market cap is down about 0.6% in the past 24 hours.
SOL is trading at $43.87 at time of writing. The ninth-ranked crypto asset by market cap is down more than 2.5% in the past 24 hours.
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The post Top Analyst Says Ethereum Rival Solana (SOL) Should Be Worth More, Believes Crypto Markets Won’t Revisit Lows appeared first on The Daily Hodl.