The Host Of InvestAnswers Stated Says Solana Is Undervalued When Compared With ETH And Also Stated Crypto Probably Won’t Come To a Recent Low
A crypto analyst has taken the time to display his bullishness on the Solana, the famous smart contract alongside, he also talked about the largest crypto, Bitcoin, that the coin has reached its bottom in a recent bearish.
Solana Is Undervalue When Compare With Ethereum
According to YouTube during a new strategy session, the host of InvestAnswers which has more than 440k subscribers said the present metric is indicating that Solana (SOL) is undervalued when compared to its major competitor, Ethereum (ETH).
“When I compare Solana to Ethereum, it should be a lot higher, technically, from a relative value basis. And again, we just look at the data here. We look at quant, we look at metrics, we measure everything. That’s how we make decisions. Nothing about sentiment or how people feel or what type of religion or tribe they belong to. We just look at data.” stated the Host.
The anonymous analyst stated his decision on metrics is neither a function of Sentiment nor people’s opinions. He stated that the Solana (SOL) should be a lot higher than its current value.
Read Also: Terra Tokens (LUNC And LUNA) To Be Listed By Poloniex Exchange On The 17th Of August
While SOL is a bit higher than $15 billion in terms of market cap, Ethereum (ETH) is occupying a much bigger space at around $232 billion.
Bitcoin Has Hit Its Least Level In Bear Market And Crypto Probably Won’t Come To This Low Level
The analyst also talked about Bitcoin, saying that the entering of money from institutions and the smartest capital allocators across the globe is a big sign that the largest cryptocurrency, BTC, hit the least level of the recent bear market.
He also said, he is so sure that the crypto won’t come to its recent low as he placed his certainty level at a 80 to 90%.
At the time of writing, Bitcoin is trading at $24,144, with a relatively 1% price upsurge based on 24 hours estimation while Solana is trading at $43.17, a 2.83% decrease in the last 1 hour.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
