Popular crypto trading and market analysis show Coin Bureau has published an update on realistic Q4 price targets for the native tokens of Solana ($SOL) and Algorand ($ALGO).
Speaking in a recent YouTube video, Coin Bureau’s host “Guy” told the channel’s over 1.43 million subscribers that the price of $ALGO could reach a new all-time high in the next several weeks.
As reported by The Daily Hodl, Guy said:
The constant increase in ALGO supply has historically suppressed its price, though this does seem to be slowly changing. ALGO recently pushed past its ICO price of $2.40 and though it was quickly pushed down as investors took profits, I believe that ALGO could reach new all-time highs in the coming weeks.
Coin Bureau’s host also mentioned that Algorand could eventually become a top ten cryptoasset by market capitalization, noting there was a gap between “where ALGO is and where it should be ” based upon the asset’s strong fundamentals.
Guy predicted a similar trajectory for Solana in the final quarter of 2021, saying that $SOL has managed to hold up well in response to short-term price action in the crypto markets:
Because SOL’s market cap is already very large, it has much less wiggle room than Algorand in terms of price gains. If SOL reaches $220 in the coming weeks, this will correspond to a whopping 1000x return for SOL’s ICO investors.
Guy predicted the “realistic long-term price target” for Solana to be around $300.
Currently (as of 9:48 a.m. UTC on October 12), according to data by CryptoCompare, $ALGO and $SOL are trading around $1.645 and $142.74 respectively.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
