Experts Predict Solana Price Surge with Bull Market Only ‘Halfway’ Done
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the Solana price has shown signs of a turnaround, climbing 1.33%.
Despite its recent corrections and its current period of consolidation, on-chain metrics suggest that the current bull market cycle has not yet reached its peak.
Today’s decisive move has helped Solana secure a 1.79% gain since last Friday, though it still underperforms compared to other major altcoins during the same period.
Indeed, Solana appears to be having a dry spell. The altcoin’s trading volume has plummeted 29.50% to $1.405 million over the past 24 hours.
According to CryptoQuant data, the current crypto bull market started about two years ago, based on Bitcoin and altcoin performance trends.
November 2022 was highlighted as a pivotal turning point, as the market saw a robust price recovery by early 2023, signaling that January might have marked the start of a new bull cycle.
Historically, crypto market cycles last around three years, typically ranging from 1,047 to 1,278 days.
Given this historical pattern, the current cycle is about 640 days in, suggesting that the bull market is approximately at its midpoint.
Notably, the Bitcoin halving, which typically triggers significant price surges, took place earlier this year.
What sets this cycle apart is that Bitcoin hit a new all-time high even before the halving, largely fueled by the approval of spot ETFs.
However, according to CryptoQuant CEO Ki Young Ju, this cycle’s progression remains consistent with historical trends. He noted that past post-halving rallies have typically started in the fourth
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