Solana price dropped more than 15% in a day

Hello Friends,

Good day to you. Hope the day is going well for you and it's going well for me also.

The way the market is doing these days requires us to keep our eyes open on the market updates. It is interesting because when the price goes up community is excited and people feel great in the market but at the same time when we see more dump coming in price it goes the other way around. Everyone wants to see more green colour in the market but practically that is not possible because it is the game of supply and demand. Just a couple of days back we saw how the prices were going up and everyone seemed to be happy they were expecting that the Bitcoin price is going to be beyond 75,000 U.S dollars price.

Freepik source

Now the Bitcoin price has dropped drastically and it is a situation that can be called uncertain when we do not know what is going to happen. Solana coin which has gained its value significantly is now dropping its price. I'm pretty sure that the Solana investors must have booked some profit because its value has grown multiple times and now its price has dropped more than 15% in just one day.

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I have been tracking the price for Solana coins for the last few weeks and it was obtained but now the bar is showing it is on a downtrend. Reading market helps us to see how things are going in the market and it is interesting. My crypto journey started last year and in the beginning, it was difficult to figure out what was going on. It is obvious because, in the beginning, people didn't know the basics about anything that we were starting but now I feel that I am in a better place to have some understanding of this crypto market. I keep on tracking some projects and Solana is on my list. Its price has grown a lot even though we have seen some issues on the blockchain but still, people are buying the coin which is why the price is going up. Solana's market cap has also surpassed B N B coin which is a leading project in the market.

The price for Solana has gone beyond 200 US dollars and currently, it is trading at $175 approximately where a big drop is visible in its value. The question is are we going to see the price drop further or it will recover from here? I discussed the current crypto market with some of my fans who are also in this market and trade sometimes. Nobody knows what is going to be the next market action because whatever has happened was not expected this time. The Bitcoin halving event is going to happen in April and this is the time when a big correction is expected.

This can be one of the corrections that was awaited but still, people are not sure how they can make some strategy to grab the situation and plan accordingly. I'm not an investor in Solana but I like the project and when everything is green it looks even better. Maybe in future, I will think of investing in Solana but not now. I am in the early phase of my career journey in Crypto so I am not much into investing but I enjoy the game which is splinterlands.

Conclusion

I have not decided about my investing in Solana but if there is a big dip in price and the price drops below $125 it can be the time when I will think of taking an entry in this project. If it happens it will be one of the biggest corrections in the last few months which I think is not less than any opportunity and investment can be made. We need to agree that the demand for Solana is going up and little up and down is very common in this market but please if you are going to do this I highly recommend you to go through the project thoroughly.

Thanks for stopping by

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