Host of the YouTube channel Coin Bureau, Left (LEFT) and Algorand (ALGO) He shared his price analysis for his altcoins. The analyst, known as Guy, to his 1.41 million subscribers in a new video; He says the price of Algorand could reach new highs in the coming weeks.
“ALGO’s price history is not very nice. This is partly due to the fact that ALGO started trading in the middle of the previous bull market, but accelerated vetting and structured sell plans are also known to have a significant impact in this case.
Historically, the sustained increase in ALGO supply has stifled its price, but this fact seems to be slowly changing. ALGO recently crossed the $2.40 ICO price, and although that price was quickly pushed down as investors profited, I believe ALGO could hit all-time highs in the coming weeks.”
Guy also says that Algorand could eventually become one of the ten largest cryptocurrencies by market cap, increasing the price of the cryptocurrency up to four times.
“Algo’s price is low, but its market value is high; which means it has limited upside potential. However, judging by the basics; There is a big difference between where ALGO is in terms of price level and where it should be.”
According to the analyst, ALGO will easily be among the top 10 cryptocurrencies by market capitalization, especially when all sales resulting from its accelerated vesting are over:
“My realistic long-term (1 or two-year) forecast for ALGO is that there will be about a 3-fold to 4-fold increase in price.”
The crypto analyst expects Solana to see smaller gains compared to Algorand. Saying that in terms of short-term price action, SOL is doing pretty well despite the recent crypto market crashes, Guy says that the cryptocurrency is only a short distance away from the all-time high it recently set.
“SOL has a lot less room to wiggle than Algorand in terms of price gains as its market cap is already huge. If SOL reaches $220 in the coming weeks, ICO investors will have made a 1000x bigger return.
At this point, a reasonable long-term price target for SOL would be around $300, which is a little more than 2x increase from its current price.”
As for how high Solana and Algorand will rise, the analyst says it will largely depend on what the rest of the crypto market is doing in the next one to two years. Finally, estimating that Algorand has 250,000 and Solana at least 500,000 users, Guy says both assets are currently in good shape for adoption.
According to CoinGecko, at the time of writing, Algorand (ALGO) is trading at $1.91 and Solana (SOL) at $163.56.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.