According to a widely respected crypto analyst, holders of the smart contract platform Solana are at risk.SOLEthereum () is also subject to the same kind of pain.ETH) traders felt during previous cycles.
Benjamin Cowen, a popular cryptocurrency trader and YouTube channel Crypto Banter has just released a brand new video interview. says Solana is paired with Bitcoin (SOL/BTCETH/BTC has been stagnating for years.
“A lot of these altcoins follow this pattern, and I want to show you this really interesting pattern by Solana…
It’s following the same pattern so far – look at ETH/BTC. It was 90% down followed by a 50% rally [and] After that massive 500% rise, ETH/BTC experienced a drop. This drop was essentially putting higher lows.
The lows were getting higher [and] It got to the point where everyone wanted it flipped. Everyone was calling for the flipping. [another] Drop and then had one rally before merging. [it slowly descended until now]. Think about that chart – 90% down, 500% up, higher lows, fake out, one last rally.
Then look [at] “SOL/BTC is the same, they are identical.”
Cowen continues to say that traders should not panic if Solana experiences a significant dip, as it’s possible the pair will rebound just like ETH/BTC. He does note that the SOL/BTC may also enter a long-term downtrend following its recovery.
If it crashes, that doesn’t indicate the end. This could happen again, like what happened to ETH/BTC when it broke down [and] People might believe that this is the end.
But it could very well just pop right back up in 2025 – exactly what ETH/BTC did – and then start to fade out in 2026, so there’s a chance something like that happens.”
SOL/BTC trades for $0.0021 BTC (216), while ETH/BTC values is $0.038 (3,921).
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