Solana (SOL) has emerged as one of the best-performing cryptos in 2023. Since January, the token has risen by over 500%, more than triple Bitcoin’s (BTC) 124% growth in the same time frame. SOL’s growth this year is especially commendable, given that it was one of the worst-affected projects due to the collapse of FTX in November 2022.
Also Read: Solana: SOL Continues to See Fund Inflows as Price Spikes 36%
However, this might not be the end of SOL’s incredible run. According to OpenAi’s AI (Artificial Intelligence) chatbot, ChatGPT, the token might rise 700% in 2024. According to the chatbot, SOL could hit a price of $500 as early as next year.
What will push Solana’s price in 2024?
According to ChatGPT, bullish market trends and widespread adoption of Solana’s blockchain technology will push its price in 2024. Moreover, reaching $500 would mean over 90% growth from SOL’s all-time high of $259, which it attained in November 2021.
Additionally, investment firm VanEck has predicted a bullish outlook for SOL in the long run. The firm anticipates the crypto to surge by 7600% by the end of this decade. Meanwhile, VanEck expects Ethereum (ETH) to reach a price of $11,800, a growth of about 475% from current levels.
Also Read: Solana (SOL) Could Surge 7600% by 2030: Predicts VanEck.
Additionally, analysts and experts expect another bull run for the crypto market in early 2024. Bitcoin (BTC) will undergo its next halving cycle in April 2024, which is considered bullish for the market. Moreover, industry experts anticipate that the SEC (Securities and Exchange Commission) will approve a spot BTC ETF (Exchange Traded Fund) in 2024. Both developments could usher in another bull run, like that of late-2021. BTC and other major cryptos, such as Solana (SOL), Ethereum (ETH), etc., might hit new all-time highs.