Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?
There is no doubt that it suits only for long-term investment. It is on the highs now, so if you buy now for short-term, you will definitely lose. I agree that Solana is a very promising altcoin, but I am not sure if there is a good time to buy now. What you certainly shouldn’t do is to exchange Bitcoin to Solana, you should have one part in more conservative assets (Bitcoin) and one part in more risky currencies (Solana) - diversify!
Of course, you can invest part of your funds in Solana, but I'm not going to exchange even part of my bitcoins and ethereum for this altcoin. These two Fgagman coins, in the end, I think, will make more profit than Solana. I am not yet sure about this coin and how long its price will go up. You can invest free funds in Solano or exchange less potential tokens, since Solana is still a rather promising project, but not at the expense of bitcoins and ethereum.