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Two months after attending Trump's inauguration, six top billionaires saw their fortunes shrink by 180 billion, and even Trump's net worth decreased by over 2 billion dollars. It was originally thought that Trump's presidency could bring light and a future to the cryptocurrency world, but what it brought was only drawing doors and money circles...
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Solana (SOL) Market Trends Show SOL and Memecoins Facing Significant Challenges
The volatile cryptocurrency market has also impacted the sixth largest cryptocurrency, SOL. Over the past week, the price of SOL has dropped by 20%, currently standing at $119.95. Market experts predict that by the end of March, SOL could fall to $100. Similarly, assets in the memecoin category are also experiencing significant declines, with some tokens down 87% since their peak in January. Despite the short-term risks, experts believe SOL may recover in the long term.
The Sharp Decline of SOL and Future Predictions The decline in SOL's value is seen as a reflection of the overall negative sentiment in the cryptocurrency market. Earlier this week, SOL fell to $115.25, and it is currently trading at around $119.95. Experts say this downward trend could continue until the end of March, with the potential to test the $100 level. However, some analysts believe this decline may be temporary.
Renowned analyst Crypto Patel stated that SOL might drop to $80 in the coming months before rebounding and targeting $500. This prediction is based on potential improvements in the U.S. Securities and Exchange Commission (SEC) regulation of cryptocurrency funds. According to a report from JPMorgan, the approval of exchange-traded funds based on SOL could attract billions of dollars in new investments. The Collapse of Memecoins and User Loss Memecoins have recently faced issues of devaluation and user loss. Tokens related to former U.S. President Donald Trump have devalued by 87% since their peak in January. This decline is attributed to scandals that have shaken investor confidence in the project. The daily active users on the popular memecoin platform Pump.fun have dropped from 390,000 in February to 169,000.
The waning interest in memecoins among users indicates a reduction in market speculation. Some experts emphasize that investors are now more inclined towards more stable projects. Additionally, the collapse of the memecoin market has undermined overall confidence in the cryptocurrency industry.
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Losing money in the market is because you can't find the method. A person is like a headless fly, flying around chaotically! You should do the right things with the right people! While you are still thinking, others have already succeeded!
Mt. Gox Transfers $2 Billion in Bitcoin: Will BTC Price Crash? Mt. Gox Bitcoin Movements Trigger New Turmoil, Cryptocurrency Market Hits Four-Month Low
The cryptocurrency market continues to decline significantly, with its total market value dropping to $2.44 trillion on Tuesday, the lowest level since early November. An important factor exacerbating investor concerns is the recent outflow of Bitcoin from the Mt. Gox exchange, which collapsed over a decade ago. The platform transferred 11,833 BTC, valued at approximately $932 million, raising new uncertainties about its potential impact on market stability. This development also triggered over $937 million in liquidations within 24 hours, exacerbating volatility in the digital asset market. Mt. Gox transfers Bitcoin reserves
Trump's remarks trigger economic uncertainty as Bitcoin plunges to $76,600
The cryptocurrency industry has seen significant developments as Donald Trump's recent comments about the U.S. economy have raised investors' alarm. His weekend remarks described a "transition period," while the U.S. stock market experienced a noticeable decline, exacerbating concerns about economic stability. The S&P 500 index fell by 2.7%, marking its lowest closing price since September 2022, while the Dow Jones and Nasdaq indices dropped by 2.08% and 4%, respectively. This turmoil adversely affected large tech stocks, with Tesla's share price falling over 15%, effectively halving its value since its peak. The impact of this "Black Monday" extended to the cryptocurrency realm, causing Bitcoin to drop to a low of $76,600 — its lowest point in four months. As of the latest updates, Bitcoin has slightly rebounded to $79,125, but it remains down about 3.5% over the past 24 hours. Similarly, altcoins like Ethereum and Solana have also suffered significant losses, with Ethereum dipping below $1,800, indicating high market volatility. Market analysts emphasize that Trump's tariff policies have intensified concerns about an economic recession, as efforts to streamline government size may lead to a short-term economic downturn. Meanwhile, trading platforms are adapting to this volatility; for example, eeee.com has launched a USDT stablecoin product offering an attractive 8% annualized return, providing investors with a hedging opportunity amid market fluctuations. Caution is advised, as the market remains susceptible to ongoing volatility.
Bitcoin: 23% of BTC Supply at a Loss – Will It Drop Below $80,000 Again?
As previously emphasized by AMBCrypto, Bitcoin [BTC] faced strong resistance at $97,000, triggering a significant drop. As of the time of writing, it subsequently fell to $82,000, indicating a wave of profit-taking. Despite some pullback, 76.08% of BTC supply is still in profit - the lowest level in six months - indicating that most HODLers are still in profit. However, this has led to 23% of the circulating supply being in an unrealized loss state - about 4.56 million BTC. As more Bitcoin holders fall into unrealized losses, some holders may decide to sell to limit further losses.
Losing money in the market is because you can't find the method. A person is like a headless fly, flying around chaotically! You should do the right things with the right people! While you are still thinking, others have already succeeded!
The impact of this 'Black Monday' has extended to the cryptocurrency sector, causing Bitcoin to plummet to a low of $76,600 - the lowest in four months. As of the latest update, Bitcoin has slightly rebounded to $79,125, but it is still down about 3.5% in the last 24 hours. Similarly, altcoins like Ethereum and Solana have also suffered significant losses, with Ethereum dropping below $1,800, indicating high market volatility.
If Bitcoin follows historical patterns, then in the upcoming bull market cycle, the price of Bitcoin could reach $150,000 to $200,000. As long as Bitcoin reaches the expected target in 2026, investors entering the market at current levels could see returns of over 100%.