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The Bearish Scenario in This Altcoin from the Analyst: It May Lose More Than Half!

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Following the bankruptcy of FTX, where Sam Bankman-Friend was the former CEO, deep falls and discussions occurred in the crypto currency community. A senior analyst made remarkable statements after the events.


Giant Solana Sale


Coin Bureau server senior analyst Guy addressed Solana (SOL), the leading smart contract platform Ethereum (ETH), a strong competitor, and made narrow warnings that the remaining impact of the FTX crisis could cause a further downward price movement in its price. The Coin Bureau presenter suggested to his 2.17 million subscribers via Youtube that the collapse of the FTX cryptocurrency exchange made things difficult for Solana.

However, senior cryptocurrency analyst, supervised cryptocurrency exchange and digital asset protection fund Alameda Research suggested that Solana could come under serious selling pressure when it divests its assets in the Ethereum competitor to pay back affected users and creditors. The expert gave the following statements in his name explanations:

In any case, it is clear that the demand for the LEFT is decreasing, and it is also easy to understand why. Some began to question Solana’s future. And this is largely due to the huge amount of SOL that FTX and Alameda will have to sell when the time comes to compensate their creditors.


“It May Fall by 40 Percent”


As a result, expert name Guy suggested that Solana could fall even lower due to the fact that the cryptocurrency market has probably not bottomed out yet. The Coin Bureau server, based on the technical analysis he applied, suggested that Solana could fall by about 40% from current levels. Guy said the following about the topic:

To make matters worse, the bottom of the cryptocurrency bear market probably hasn’t started yet. This means that even without the selling pressure from the assets I have mentioned, SOL will fall even lower. The long-term price chart shows that SOL could fall to $ 8. This ratio will be consistent with the estimated percentage of losses in other major altcoins.

Solana is trading at $12.81 at the time of writing, down more than 50% in the last two weeks.

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