SOL is a very strong project with extremely strong fundamentals (user growth, speed, cost) versus competitors. Despite the recent wormhole hack which wasn't an issue of SOL but an issue with a bridge is making headlines, this only provides an opportunity to buy cheaper than normal imho.
SOL will no doubt fix any congestion issues it had in the past as their lead dev devoted an 8 week campaign to bolster the network and solve any issues. These are top programmers from Qualcomm and you can rest assured these sort of programmers are much better than crypto programmers. SOL allows MUCH easier to use programming languages than other rival coins such as ETH which relies solely on Solidity and feedback from top programmers is that Solidity is not easy to use at all. This impact development significantly as the legacy world still has 98% of programmers and if you want your crypto project to grow in the long-run, it's ideal to have the easier programming languages to onboard those 98% to create apps and develop for the best projects.
Lastly, SOL has an asymmetric advantage as it is backed by one of the brightest minds in the space, Sam Bankman-Fried. Sam's pro-regulator clarity stance will make SOL a crowd favorite to overcome any hurdles in the future.
My price targets for SOL are in the mid $400-$500 by mid-year. It sounds lofty but again, SOL is actually onboarding users and is increasing its re-investment into the network and into R&D. It would only infer a $130B market cap which isn't that high compared to what coins like XRP did in the last bull-run in 2017 when there were 10% of the investor pool. XRP achieved $130B market cap in 2017. SOL is about 100x more useful than XRP so as the large wedge formation suggests, SOL's terminal value is likely multi-thousand dollar range. This of course depends on how quickly SOL's programming team develops top products. With SOL Pay just launching on the market a few days ago that provides a direct conversion into USDC upon paying for goods and services, SOL could be at the beginning of yet another impulse wave higher. SOL Pay is a game changer in terms of adoption, and will only quicken major developers to come into the Solana ecosystem, as more of the legacy guys will want to join networks that are headed by legacy programmers.
Lastly, there is strong Hidden Bullish Divergence on the daily and weekly charts - this is a longer term signal that typically plays out over weeks/months.
If you own a big bag of ETH or DOT, it would be wise to diversify a bit into SOL for your long-term bags here.
SOL will no doubt fix any congestion issues it had in the past as their lead dev devoted an 8 week campaign to bolster the network and solve any issues. These are top programmers from Qualcomm and you can rest assured these sort of programmers are much better than crypto programmers. SOL allows MUCH easier to use programming languages than other rival coins such as ETH which relies solely on Solidity and feedback from top programmers is that Solidity is not easy to use at all. This impact development significantly as the legacy world still has 98% of programmers and if you want your crypto project to grow in the long-run, it's ideal to have the easier programming languages to onboard those 98% to create apps and develop for the best projects.
Lastly, SOL has an asymmetric advantage as it is backed by one of the brightest minds in the space, Sam Bankman-Fried. Sam's pro-regulator clarity stance will make SOL a crowd favorite to overcome any hurdles in the future.
My price targets for SOL are in the mid $400-$500 by mid-year. It sounds lofty but again, SOL is actually onboarding users and is increasing its re-investment into the network and into R&D. It would only infer a $130B market cap which isn't that high compared to what coins like XRP did in the last bull-run in 2017 when there were 10% of the investor pool. XRP achieved $130B market cap in 2017. SOL is about 100x more useful than XRP so as the large wedge formation suggests, SOL's terminal value is likely multi-thousand dollar range. This of course depends on how quickly SOL's programming team develops top products. With SOL Pay just launching on the market a few days ago that provides a direct conversion into USDC upon paying for goods and services, SOL could be at the beginning of yet another impulse wave higher. SOL Pay is a game changer in terms of adoption, and will only quicken major developers to come into the Solana ecosystem, as more of the legacy guys will want to join networks that are headed by legacy programmers.
Lastly, there is strong Hidden Bullish Divergence on the daily and weekly charts - this is a longer term signal that typically plays out over weeks/months.
If you own a big bag of ETH or DOT, it would be wise to diversify a bit into SOL for your long-term bags here.
Comment:
The 1.618 is at $1000