Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Chris Burniske, partner at venture capital firm Placeholder, has revealed some new price targets for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) in his most recent social media post.
The prominent cryptocurrency analyst believes that BTC will top out around $142,690.
At the same time, he is convinced that ETH and SOL will reach $6,900 and $420, respectively.
"The crazier prices get in August/September/October, the more conviction I’ll have in an October top. If we pull back hard soon, and get more muted, then perhaps we can extend this bull market for longer," he said.
He has warned investors that "everything" will drain out as soon as the tide turns for Bitcoin.
Approaching a new record high
Bitcoin, the leading cryptocurrency by market capitalization, is zeroing in on a new record high after $123,
The leading cryptocurrency reached its previous peak of $123,236 in mid-July.
Since hitting the abovementioned peak, Bitcoin suffered a 9.5% correction, dropping to a local low $111,919 on Aug. 3.
Ethereum's big week
Meanwhile, Ethereum is having another stunning week, recently surpassing the $4,700 level. ETH is now just 3% away from reaching a new record peak for the first time since November 2021. The cryptocurrency is currently changing hands at $4,718.
Solana's stunning overperformance
Meanwhile, Solana (SOL) is vastly outperforming both Bitcoin and Ethereum. Over the past 24 hours, the token has surged by another 5%, surpassing the pivotal $200 level.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team