If you had invested $1,000 in Solana (SOL) in April 2020, here's what would have happened
Imagine having invested $1,000 in Solana in April 2020.
Here's a simplified look at how that investment would have skyrocketed over time, before facing the inevitable market corrections:
2020
April: Solana was trading at a modest price of $0.5, meaning $1,000 could buy you 2,000 SOL.
August: Fast forward to August and Solana hit $4.85, catapulting the value of your investment to around $9,700.
December: By the end of the year, SOL hit $2.89, leaving you with a solid $5,780.
2021
April: The real fireworks began. In April 2021, Solana rose to $49.58, bringing your initial investment to a whopping $99,160.
September: Things got even better: Solana hit $213.47, bringing your portfolio value to a staggering $426,940.
November: The peak. Solana soared to $259.96, meaning your $1,000 would have turned into $519,920.
2022
April: In April 2022, market corrections began to occur. With SOL priced at $136.57, your investment would have been an impressive $273,140.
September: The decline continued and SOL fell to $39.88, bringing your holdings down to around $79,760.
Conclusion
At its all-time high in November 2021, your $1000 would have reached an incredible $519,920. But as 2022 has shown, cryptocurrencies are highly volatile and Solana's value has dropped considerably. While there is the potential for massive gains, the risks are equally substantial. 💥📉