One of the leading advocates of the largest cryptocurrency Bitcoin (BTC) and a senior advisor at El Salvador’s National Bitcoin Office, Max Keiser, claimed that Ethereum’s (ETH) rival Solana (SOL) is going to crash. The cryptocurrency expert expects the trendiest altcoin of 2023 to drop by 80 percent. Here is the analyst’s expectation for SOL.
Keiser Expects SOL to Retrace to $20
Cryptocurrency expert Keiser predicts that SOL could fall more than 80% from its current price levels to $20. Keiser said, “I expect Solana, which is a shitcoin, to lose 100% of its purchasing power against Bitcoin, to perform several rug pulls, and to prey on its investors with a series of loss-making transactions leading to net losses.”
As is known, Keiser and his wife Stacy Herbert work as senior advisors at the National Bitcoin Office of El Salvador, the first country in the world to adopt Bitcoin as its official currency.
Analysts’ Predictions for Solana
Earlier this week, an anonymous cryptocurrency analyst and trader known as Altcoin Sherpa predicted that SOL could soon fall to a price between the Fibonacci retracement levels of $84.50 and $71.67.
Altcoin Sherpa said, “Theoretically, considering all the liquidity that has been accumulated, this should rise. However, I still think SOL needs a bit more time to cool off. I wouldn’t be surprised to see it drop back down to lower levels like $70-80.”
Another leading analyst, Bluntz, assessed SOL earlier this week and suggested that the altcoin is showing signs of an uptrend. The analyst expects the price to rise, powered by an emerging bullish formation on the price chart, and added that SOL may consolidate for a while before starting a parabolic rally.
Ranked fifth by market value, Solana is trading at $101 at the time this article was written.
