InstaForex

October 14, 2021

Bitcoin (BTC) Price Correction Dragging Solana (SOL), Dogecoin (DOGE) Depreciation

 If yesterday the movement of Bitcoin (BTC) excited crypto investors, in contrast today the king of crypto was seen slightly weakened, declining more than 2.3% from the daily high, $ 57,676 on 12 October.


Analysts see Bitcoin (BTC) price developments driven by the Securities and Exchange Commission’s (SEC) decision to approve the BTC ETF next week after repeated delays.


However, the correction in the price of Bitcoin today also affected the price of altcoins.


Dogecoin (DOGE)



Last week, these assets displayed positive movement.

Early this morning, DOGE was down nearly 4% in 24 hours, and 7.6% in a week.

However, it bounced back almost 2% with a trading value at the time of this writing, $ 0.2289.

For a record week, DOGE is still in a downtrend with a decline of almost 10%.

Solana (SOL)


SOL is quite a struggle to bounce back to touch the all -time high (ATH) recorded on September 9th.

In a 7 -day record, SOL is down 9%, touching a daily low, $ 148.50.

At the time of writing, SOL is still uptrend with a jump of over 3.2% with a trading value of $ 149.43 in 24 hours.

However, it requires an increase of at least 30.8% to return to the ATH level, $ 214.96.

Other assets that displayed a sharp decline in the week included: Terra (LUNA) -10.26%, Avalanche (AVAX) -10.70%, Chainlink (LINK) -5.87%, Algorand (ALGO) -7.05%, and Internet Computer (ICP) -17.80 %.