Solana To Mirror Ethereum’s 2021 Action If Bitcoin Spikes
-
Solana to follow ETH’s 2021 bull run
-
Bitcoin is expected to drop before a massive bull run
Since the mid of December 2022, Solana has emerged as one of the best performing altcoin with its consistent bull run. This smart contract platform which tends to follow Bitcoin and Ethereum, is just a few figures away from claiming back its lost value after FTX collapse.
Currently, Solana is valued at $23.49 with a gain of 0.22% over the last 24 hrs and 47% in the last one week.
Meanwhile, a well-known crypto analyst and strategist who is anonymously known as Inmortal informs is of the opinion that Solana might flash Ethereum’s 2021 bull rally. The analyst informs his 191,200 followers over Twitter that Solana might mirror Ethereum’s 2021 price action when ETH managed to hit its all-time high of $400.
If Solana has to perform as per the analyst claim, the altcoin should move past its crucial resistance of $60.
Bitcoin At $24K
However, Inmortal predicts Bitcoin to drop below $20,000 before it makes a move towards the $24,000 area.
Another crypto analyst known as Altcoin Sherpa also portrays his bullish stance towards Solana. He attempts to inform his 189,100 Twitter followers that Solana will see an upward rally of more than $30 if BTC moves north.
Bitcoin & Ethereum To Mirror 2019 Trade
The world’s two largest cryptocurrencies Bitcoin and Ethereum have surged nearly 20% in just a week. This momentum pushed almost every cryptocurrencies in the market, resulting in the rise of global crypto market cap that hit $1 trillion for the first time since November 2022.
However, currently the global crypto market cap has slightly dropped at $981 Bln along with Bitcoin falling back to $20,000 levels.
Meanwhile, a well-known crypto analyst and former associate at ARK Invest, Burniske has put forth his analysis on the crypto market. The analyst claims that the current market situation might not be a short-term rally, hence we might see a 2019 like situation.
Earlier in 2019, the analyst had stated that the first two cryptocurrencies, Bitcoin and Ethereum had surged by 4X during that year. The analyst expects that the crypto market will repeat the similar phenomenon.
However, Burniske also mentions that if the market decides to reverse its trend he would be happy enough to buy the dip. His stance towards buying the dip or increasing his crypto holdings has always been strong. It is important to note that Burniske’s predictions are based on wave-trading where investors and traders flip between mid and long-term trends. During this time, the traders don’t really look at the market’s condition, be it corrections or accumulations.
At the moment, Bitcoin is changing hands at $20,985 after a surge of $0.25% over the last 24hrs.
The Hideaways (HDWY) Expected To Mirror Solana (SOL) And Dogecoin (DOGE) Gains In 2023
The cryptocurrency industry has historically gone through boom and bust cycles, with the most recent crypto winter extending from 2018 to late 2020.
Crypto analysts predict that another crypto winter is looming over the market as top coins like Bitcoin are affected by inflation. Other crypto coins like Solana (SOL) and Dogecoin (DOGE) are unlikely to escape the freezing trail of the next crypto winter.
In volatile times like this, experts advise crypto holders to start investing in other projects with real-world utilities, such as The Hideaways (HDWY).
Is Solana Still A Worthy Investment In 2023?
SOL is down -0.70% today and 7.05% over the past week, trading at $33.06. SOL gained momentum after hitting a weekly low yesterday at $33.03 and is now higher by .03%.
The SOL price has declined since the beginning of the bear market and the hack that occurred at the beginning of this year.
Although Solana is trading slightly above the 100-day moving average, the bears still own most of today’s trading volume. Experts suggest that SOL may not be the best investment in 2023.
Dogecoin Plunges Further
DOGE is currently down -1.14% in the last 24 hours and is currently trading at $0.06152. The coin plunges further, down -7.90% from its 7-day ATH of $0.06679 and 4.41% from its 7-day ATL of $0.05892.
The meme currency is getting close to the 200MA on the 4-hour timescale, which is a crucial support for the coin and, if it holds, will signal the continuation of the bullish trend.
On the daily timeframe, the 100MA acted as resistance to force the retest; analysts predict the bears will win over the bulls. DOGE may not make its way to the top cryptocurrency projects in 2023 because it appears to be a project in decline.
The Hideaways May Increase By Over 150x Like Solana and Doge Did
The Hideaways (HDWY) is an initial coin offering (ICO) that allows investors to increase their wealth exponentially.
Investors can generate profit ($ETH, $USDC, $USDT) from events held at their property, like weddings, and rental income from short-term holiday lets, and guarantees a minimum yield of 20% from rental income.
The price of the HDWY presale is expected to rise by over 500% in the next 2 months. Holders of HDWY can use the platform to create a global real estate portfolio without being constrained by conventional real estate investing restrictions.
Start investing in HDWY for as low as $100 without concern for home deposits or other legal, financial, or administrative costs.
The Hideaways (HDWY) smart contract is already audited by SolidProof – a top smart contract security audit firm.
They are locking liquidity forever, which is super bullish in this bearish environment, and they are locking team tokens for 2 years – ensuring the team is locked into the success of $HDHWY.
Invest In The Hideaways Now:
Website: https://www.thehideaways.io/
Presale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.