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Raul Pal: “Solana will win this bull run”

The former CEO of Goldman Sachs, the founder of Real Vision, said that Solana could overtake all of Ethereum’s competitors during the next crypto asset growth cycle.

Raoul Pal believes that as the cryptocurrency market grows, more and more projects built on Solana (SOL) and Avalanche (AVAX) will be platforms on the Ethereum blockchain:

“At the beginning of the bull cycle, we will see Ethereum take the lead, but then competitors will start to close in on it.”

Former Goldman Sachs executive predicts that Tier 1 blockchains competing with each other and Ethereum will grow in a new bull cycle, just like Ethereum from 2020 to the end of 2021. Therefore, Raul Pal personally invested in SOL, which is the closest competitor to ETH:

“I think that many of these blockchains in this cycle will repeat the dynamics of ETH in the last cycle. They will eventually become very large dominant networks. What exactly? I dont know! I bet on Solana, but it can be any other blockchain. It’s just that I pay more attention to Solana than other assets, but I keep an eye on all of them, and I look forward to their growth.

The founder of Real Vision revealed that he is tracking Solana paired with Ethereum (SOL/ETH). This pair, according to Pal, forms a potentially bullish setup (candles with the same lows). The macro expert explains that the DeMark indicator, which is designed to determine the direction of an asset’s trend by comparing the most recent high and low prices with the price of the previous period, shows a bullish signal on several time frames for SOL/ETH.

FTX Cryptocurrency Exchange CEO Sam Bankman-Fried despite
problems with the Solana network, continued to believe in SOL, stating that the project had previously experienced failures,
becoming more successful after them. The FTX CEO is closely linked to Solana through several subsidiaries. Bankman-Fried invested in the project through his company Alameda Research and also participated in a $314 million Solana Labs funding round.

Source: Bits

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