Cryptocurrency is facing another fix. Bitcoin (BTC) has recently fallen to the $104,000 level after rising to the $109,000 price range. Global crypto market capitalization has immersed 6.4% to $3.36 trillion in the last 24 hours. Solana (Sol) is not an outsider in the current trend. The sixth largest ciphers were 10.1% on daily charts, 2.9% on weekly charts, 13.5% on 14-day charts, 21.5% on previous month, and 5.9% since June 2024.
Cryptocurrency falls amid increasing volatility
The latest crypto market dip comes after Israel’s recent attack on Iran, followed by an increase in volatility. Investors may have been surprised by the development by winning cash before the conflict escalated. Coinglas data shows that a total of $1.15 billion worth of cryptocurrencies have faced liquidation in the last 24 hours. Sol’s dip could possibly be the result of a larger market clearing.
The crypto market has struggled to gain considerable momentum over the last few days. BTC climbed to an all-time high of $111,814 on May 22, but other assets did not reach a similar peak. It could enter another bearish stage over the coming weeks.
Do I need to buy Solana during my current dip?
Buying dips is a popular investment method. Investors can buy assets at a low price. It also helps reduce the average cost of each coin. One of the dilemmas people often face is whether they should buy a dip right away or wait for the price to drop even further.
The latest market crash is pretty important. Sol prices could continue to fall in the coming days.
Cincodex expects Solana (Sol) to gain momentum over the coming months. The platform predicts that Sol will trade on August 29th at $179.79. Sol’s price will rise 25.61% if it reaches its $179.79 target.
(tagstotranslate) solana
