One fact to highlight from this day is that Solarium, the cryptocurrency once supported by Sam Bankman-Friedpared some losses on December 30, a day after falling to its lowest level since February 2021.
However, the intraday rally did not do much to offset the overall downtrend as which is down 97% from its all-time high of $267.50 in November 2021and more than 20% in the last week, reports the specialized site Cointelegraph.
A) Yes, Solana now joins the ranks of the worst performing tokens of 2022which are: FTX Token and LUNA, which have fallen around 98% in the year.
What will happen to the price of Bitcoin?
“Bitcoin is not getting much of a boost from the positive risk environment on Wall Street”, points out Edward Moya, a senior analyst at Oanda, in dialogue with Bolsamanía. This expert points out that, despite the fact that the markets seem to have given signs in the last day that the traditional Christmas rally could take placethe queen cryptocurrency is followed “reeling” due to the latest developments regarding the FTX bankruptcy case.
“Bitcoin prices are very sensitive, and many traders are concerned about the current pattern of consolidation taking place for BTCsays Naeem Aslam, AvaTrade’s chief market analyst. According to this expert, this is because “the bitcoin price was unable to break above the $18,000 resistance recentlya level immediately below the $20,000 resistance.”
“Now the fact that the price continues to consolidate near the $16,500 price mark makes traders believe that there is more chance of a move that could push the price even further below $15,000“, alert.
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Source: Ambito
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