Solana (SOL) Going to Zero Against Bitcoin: Max Keiser
U.Today
Published Jan 30, 2024 03:27PM ET
Updated Jan 30, 2024 04:00PM ET
Solana (SOL) Going to Zero Against Bitcoin: Max Keiser
U.Today - Prominent Bitcoin supporter and maximalist Max Keiser continues aiming at altcoins. The most recent ones that he has been attacking on Twitter have been Solana (SOL) and Ripple-affiliated XRP tokens.
Earlier today, Keiser took to X/Twitter to make another mega-bearish prediction on the future of the SOL price as he sees it.
h2 Keiser’s radical Solana prediction/h2 Max Keiser, in his typical harsh style with a bit of humor added to it, has again called the top Solana blockchain a “rug pull,” stressing that he believes SOL to be “centralized garbage.” Keiser believes that there is a mathematical guarantee that SOL will eventually collapse to trade “at virtual zero against Bitcoin.”Since Jan. 11, Solana’s native token SOL has plunged by a staggering 26%, falling from the $107 peak (reached on the back of Bitcoin briefly soaring after the U.S. Securities and Exchange Commission issued approval of spot Bitcoin ETFs) and hitting a $79.34 low on Jan. 23.
It was this continuous recent price fall that Max Keiser commented on in his tweet, promising that SOL would eventually trade at virtual zero against the global leading cryptocurrency and digital gold. A similar tweet was recently published by Keiser about XRP.
In a recent development, over the past 24 hours, the token in question has managed to stage a significant recovery of more than 10%, getting back to trading at the $87.66 price tag.
Previously, Keiser made a similar bearish prediction about Solana at the start of the year, predicting that SOL would definitely go down to $20. Back then, the token experienced a quick 15% price fall to $96.
h2 Keiser picking at XRP lately/h2 The second coin that Keiser has been slamming most frequently after SOL is XRP. Over the weekend, he published an X post, claiming that the Ripple-linked XRP coin will eventually crash to $0.01.Keiser believes that Bitcoin is the only decentralized cryptocurrency since it was created by one person (known to the cryptocurrency community as Satoshi Nakamoto), who chose to disappear from public view almost immediately after BTC was released. Unlike Bitcoin, altcoins have been created by teams of IT engineers, hence Keiser's belief they are nothing but “centralized garbage.” Keiser also supports the SEC in its lawsuit against Ripple.
This article was originally published on U.Today
Get The News You Want
Written By: U.Today
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.