Max Keiser’s doom and gloom proceed to roll in for altcoins like Solana (SOL). As per the Wall Street veteran and host of the Keiser Report, Solana topped out at $100 and is destined to fall all the way in which to $20.
Solana Worth Eyes 80% Wipeout, In accordance To Keiser
Solana gained a whopping 94% in December, outperforming its high rival within the sensible contract house, Ethereum (ETH), which grew by merely 9.5% in the identical time-frame. Solana has attained engaging returns in current months on the again of meme coin hype on the blockchain and institutional inflows.
With excessive expectations that the U.S. Securities and Trade Fee (SEC) will quickly approve spot Bitcoin exchange-traded funds (ETF) — and set off an inflow of institutional cash flowing into the highest cryptocurrency — the worth of BTC had been steadily climbing, nearing $46,000 on Tuesday. Nevertheless, the benchmark crypto instantly fell to $42,000 yesterday on the fifteenth anniversary of its genesis block, shedding no less than $3,000 of its worth in a matter of two hours.
As for SOL, the token misplaced roughly 13% over the previous 24 hours, diving by 5% even earlier than the Bitcoin value began seesawing. Solana is now hovering ominously on the $104.03 area, main Max Keiser to touch upon the top of its bull run.
Keiser urged in a post on X that an prolonged draw back retracement for SOL is “incoming”. Within the Bitcoin maximalist’s opinion, the following cease for the SOL value is $20 — a 79.8% drop from present value ranges.
With a market cap of $44 billion, SOL is presently the fifth-largest crypto by market cap after stumbling again behind BNB Good Chain’s native token (BNB).
That stated, Max Keiser is understood for his aggressive assault on altcoins like SOL, ETH, XRP, and ADA. He has repeatedly stated they’re scams used in terrorist financing whereas calling Bitcoin “God’s cash”.