- Crypto Youtuber states Bankman-Fried is not , hence predicts SOL to go bullish.
- “Solana is not dead but more like in pause,” states Ben Armstrong.
- Crypto Twitter user states Solana will make it; six reasons cited.
Crypto Youtuber, Ben Armstrong, also known as BitBoy crypto, tweeted, “While $FTT is obviously dead, where does Solana go from here?” asking the crypto community’s thoughts on Solana.
So I want to talk about $SOL for a moment. While $FTT is obviously dead, where does Solana go from here?Remember this: Sam was certainly a huge investor and proponent of Solana, but HE was not Solana. So in the short term this situation is going to put a hurt on it. 1/5
— Ben Armstrong (@Bitboy_Crypto) November 10, 2022
Armstrong reminded the crypto community that Sam Bankman-Fried, the CEO of the near-bankrupt FTX exchange, is a big proponent of Solana. Nonetheless, he made a succinct comment that although Bankman-Fried was a big proponent of Solana, “but HE was not Solana.”
As such, by separating Solana from Bankman-Fried, Armstrong reveals that FTX’s crash would not affect Solana in the long term.
Moreover, the YouTuber predicts that although Solana could be bearish now, it has the potential to bounce back. Furthermore, while commenting on the potential that Solana had, Armstrong’s previous thread reads:
But $SOL is not dead imo. It’s more in like a “pause” right now. Too soon? Sorry couldn’t stop myself.Yes, it has problems, but also has a decent amount of users, projects, & NFT communities on it, And these are good people who aren’t going to give up.3/5
— Ben Armstrong (@Bitboy_Crypto) November 10, 2022
In the tweet, he stated, “But $SOL is not dead imo [in my opinion]. It’s more in like a “pause” right now.”
Looking at Solana’s behavior in the past, it seems that Armstrong made a good prediction. As per the infographics shown below, Solana is traversing an uptrend. If the bulls keep pushing the prices then Solana might look to break Resistance 1.
Moreover, if the bulls manage to overcome Resistance Level 1, they will be targeting Resistance Level 2. However, if the bears break the uptrend, Solana might target $12 as its immediate support level to land on.
Interestingly, according to a crypto Twitter user, Solana may keep the bears at bay. The crypto user, who is a fund manager, states six reasons why Solana is going to make it and why placing bets in the coming months could yield 20x-30 returns in the coming cycle.
The user states that the issue about the centralization of Solana was dead as Solana ranks 3rd on the Nakamoto Coefficient, which is a measure for network decentralization. Additionally, while stating other reasons, the user shared that the NFTs are thriving on Solana.
Moreover, the user supplemented his bullish overview by quoting Anatoly, the founder of Solana, who mentioned that in early 2023 there will be an update that will almost eliminate the risk of network outages.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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