On Tuesday (20 December 2022), James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, shared his price targets for Bitcoin.
According to a report by The Daily Hodl, Mullarney said:
“I’m sticking with a much more conservative price of $80,000 for the next cycle. That would be sometime in the year 2024... I do believe we could hit about $61,000, $62,000 by April 2024 – and that is right at the halving of April/May 2024...
“If Metcalfe’s Law holds, which it does for all other industries, the conservative model has Bitcoin reaching… 3.4 million [wallets] by the year 2030… But that assumes the increase in usage follows the trend that we’ve had since the beginning of time over the past 11, 12 years. Now that also assumes over one billion users, active users, on the actual chain… Now cutting that in half, from one billion users down to 500 million, this would get us to $1.5 million Bitcoin price… Adoption is the key and the adoption needs to go up 500x from today for that price [of $1.5 million] to be achieved.“
On 13 December 2022, Mullarney Mullarney released a video in which he explained why he is so bullish on $SOL and expects its price to go a lot higher.
According to a report by The Daily Hodl, he said:
“If we look at the daily active users of Solana versus Ethereum, you can see Solana is down a bit, 379,900, a little bit higher than Polygon 359,500 and Ethereum 572,500, which is good. But remember, Polygon can run a lot faster than Ethereum, so why [aren’t] the transactions a lot higher? Because there’s room for adoption. Cardano is in there at 49,800 which is almost the same as Near Protocol [at 49,500]. Avalanche, 34,900 and Aptos 21,500. And that’s kind of the lay of the land at the top layer-1 chains.…
“Assuming these other coins go back to all-time highs and assuming that Solana continues on its growth trajectory, then I believe these are possible. And this is an average of averages, which is a safe way to come at it. So, if we look at the matching Cardano market cap $29.61, 10% of ETH $42.74, 20% of ETH $85.48. The average of all three is $52.61. Is that a fair value for SOL? Absolutely yes, I believe that is the case. But it has a black eye from the FTX fallout and everything else so it’s trading at a quarter of that value right now.“
Featured Image via Pixabay
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