SOL - Up 90% in 2023 Should You Buy This Unstoppable Crypto?
Applauded for its exciting features and disruptive potential, Solana (CRYPTO: SOL) burst onto the scene in March 2020, right around the start of the coronavirus pandemic, and quickly skyrocketed nearly 26,000% in value to its all-time high in November 2021. Then with the general negative sentiment surrounding the industry, the price of SOL tanked 96% between its peak and the end of 2022. This roller coaster ride is indicative of how speculative digital assets work.
Things have started to quickly turn positive recently. As of this writing, Solana has more than doubled in 2023. Should investors ride the momentum and buy this seemingly unstoppable crypto now?
After roughly tripling in value in 2021, the entire crypto market tanked in 2022. It started the year at a market value of $2.2 trillion, only to drop below $800 billion by the end of December. We all know that the cryptocurrency market is extremely volatile, but this was hard to stomach for many investors.
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Up 90% in 2023, Should You Buy This Unstoppable Crypto?