Guy Turner, the host of the popular Coin Bureau channel, has shared his price predictions for Sui (SUI), a competitor of Solana (SOL). With a subscriber base of 2.48 million, Turner believes that Sui has significant potential in the long run.

Explaining his optimistic view, Turner highlights that Sui meets the criteria of a cryptocurrency that retail investors are likely to invest in. Its low price tag creates the illusion of substantial gains, and its market cap is lower than most large-cap cryptocurrencies, making it easier to influence its price. Additionally, Sui is accessible as it is listed on all major exchanges.

Currently, Sui is trading at $1.03, which is a 53% decrease from its all-time high of $2.17 in late March.

However, Turner points out that certain metrics, such as the total value locked (TVL) and the number of on-chain transactions, indicate a bearish outlook for Sui in the short term. He suggests that the declining demand indicated by these metrics could pose challenges for Sui’s price. Turner acknowledges that this trend is not unique to Sui and can be observed in many other cryptocurrencies as well. He attributes this to the current lack of interest in altcoins.

Considering these factors, Turner predicts that Sui’s price is likely to continue trending downwards in the short term, along with its demand-side metrics. However, he believes that if the supply-side pressures ease, Sui could see a positive turnaround.

As always, it’s important to note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. The Daily Hodl, where this article was originally published, does not provide investment advice and is not a financial advisor.