Cryptocurrency analyst Smiley discussed his price forecasts for BTC, ETH, and SOL in his statement for 2024.
Value of Key Cryptocurrencies
- According to Smiley’s forecast, Bitcoin (BTC) is expected to fluctuate between $100,000 and $120,000 in 2024.
- The analyst anticipates Ethereum (ETH) to achieve a range between $7,000 and $8,000 in value.
- The prediction suggests that SOL will solidify its position as the third-largest cryptocurrency and witness a notable surge in on-chain activity.
Market Dynamics
- According to Smiley, Ethereum is anticipated to transition from on-chain activities and gain acceptance from institutions as a store of value (SoV) with additional yield. He also foresees the approval of an Ethereum ETF, although he believes it will be delayed until the deadline.
- Despite its expansion, Smiley does not anticipate the emergence of an ETF for Solana.
Projected Performance
- According to Smiley’s forecast, ETH is expected to surpass BTC in performance.
- In the analyst’s view, SOL is anticipated to surpass ETH in performance.
Smiley suggests that sidelined capital and bearish investors may have an opportunity to purchase Bitcoin within the range of $35,000 to $40,000, but only in the event of a black swan occurrence.
He also asserts that the bullish rally will continue until 2025 and predicts that Bitcoin will never dip below $30,000 again.
