Solana Price Prediction: Cathie Wood Is Bullish On SOL, But Are Investors Ditching It To Add This Bitcoin Cloud Mining Phenomenon?

Join Our Telegram channel to stay up to date on breaking news coverage

The Solana price has dropped by 13% in the last 24 hours, trading at $56.79 as of 5:30 am EST. Solana has performed remarkably well over the past months. If you had invested $1000 in Solana (SOL) when its price was $13.08 on November 17, 2022, as FTX filed for bankruptcy, the current value of your investment would be approximately $3050.

Over the past month, SOL has witnessed a surge of 144%, surpassing Bitcoin (25%) and Ethereum (26.5%) during the same timeframe.

On Tuesday, SOL added another $12 to its value, reaching $68, following Cathie Wood’s, the CEO of ARK Invest, remarks that Solana is now faster and more cost-effective than Ethereum.

Solana Price: Bulls Strengthen Their Position, Aiming At $100

Despite the current correction, the SOL price has seen a gradual upward trend, marked by a consistent climb on its price chart. The Bulls have successfully surpassed the resistance levels of $32.49, $47.17, and $64.12, establishing a solid support level at $51.97.

Solana’s price has surpassed the 50-day and 200-day moving averages, affirming bullish sentiment. The occurrence of a golden cross, where the 50-day SMA moves above the 200-day SMA, might have drawn in additional buyers.

Solana Price Poised To Reach $100 High In 2023?

There is potential for SOL to surpass the $68 threshold in the coming weeks, supported by the relative strength index (RSI) maintaining upward momentum above the overbought region of 70, bouncing from the 50-level to 89. However, there has been a slight dip to the 71 mark.

Despite this, bullish momentum remains strong as buyers demonstrate an unwavering determination to recover losses, driving prices towards anticipated highs in 2023, reaching around $80 and $100, respectively.

Bearish traders may seek opportunities around the $64 resistance level to correct the price and minimize losses, potentially exerting downward pressure on the price with a focus on the $51.97 support zone.

If you missed the recent SOL price surge, consider participating in the BTCMTX project, which offers valuable opportunity in its presale, has experienced significant funding, and promises lucrative gains.

BTCMTX Now 4 Days From Price Hike

As an investor, now is the opportune moment to capitalize on the rapidly advancing presale of Bitcoin Minetrix (BTCMTX), which is closing in on its $4.6 million soft cap.

Having surpassed the $4 million milestone, the current juncture presents a strategic window for you to join the presale before prices experience an upturn.

Big news! 📢#BitcoinMinetrix proudly announces a colossal accomplishment, more than $4,000,000 raised! 🪙 pic.twitter.com/neW7VEgkjJ

— Bitcoinminetrix (@bitcoinminetrix) November 16, 2023

The team behind this project has set a hard cap of $15 million, enabling you to secure up to 77.5% of the total token supply.

Win in the BTCMTX Minedrop Airdrop, Stake for Passive Income!

Participating in the Minedrop airdrop and staking your BTCMTX tokens can provide you with potential financial benefits and the opportunity to earn passive income.

You can join the project’s Minedrop airdrop, which has a total prize pool of $30,000, which presents an exciting opportunity for you and nine other lucky participants to win a $3,000 reward each.

#BitcoinMinetrix Offerings:

Accessible entryways! 🛒

Financial effectiveness! 💰

Compact, silent setup! 🏡

No concerns about reselling! 🔄 pic.twitter.com/jqdVNmI39g

— Bitcoinminetrix (@bitcoinminetrix) November 16, 2023

Furthermore, you can generate passive income through the stake-to-mine program. By staking your BTCMTX tokens, you can access a substantial Annual Percentage Yield (APY) of 144%. Currently, approximately 288 million tokens are staked, resulting from the mining of 158.5 blocks per ETH. However, you must stake now, as the APY will continue decreasing as more tokens get staked.

#Bitcoin miners hit an annual all-time high, raking in $44M in a day on Nov. 12! 💰

After a challenging period, the mining community bounced back in 2023, with a 670% YoY revenue surge for @MarathonDH.

What's your take on this resurgence in mining profits? 💭

— Bitcoinminetrix (@bitcoinminetrix) November 13, 2023

The CryptoNews YouTube channel, boasting over 5,000 subscribers, has released a comprehensive guide on acquiring BTCMTX tokens and investing for lucrative gains.

Acquiring BTCMTX tokens is a straightforward process. All you need to do is connect your digital wallet to the BTCMTX website. Once connected, you can purchase the tokens using ETH, USDT, BNB, or your bank card.