Chainlink (LINK) Momentum Shows No Signs of Slowing Down: Where Will Price Discovery Lead It?
Ever since Link started trading, the cryptocurrency has been delivering stellar performances. The cryptocurrency was even ranked as the best performing cryptocurrency of 2019. Its upward trend is encouraging, showing no signs of slowing down soon. If anything, the cryptocurrency is likely to break more price barriers.
Altcoins are highly correlated. Each cycle brings them all up and all down together.
Except for $LINK.
Uptrend with higher lows & higher highs for 2 years.
Absolutely insane. Fun to watch but I honestly don't understand how it's been able to do this. pic.twitter.com/HOax1sXvyd
— Luke Martin (@VentureCoinist) February 27, 2020
Higher Highs and Higher Lows
With each of its trading cycles, Chainlink had achieved higher lows and highs with no visible regression even when altcoins were in a bearish state.
The cryptocurrency defies the general movement of altcoin performances, sticking on its own generally bullish trend. Its bullish trend saw analysts buy the cryptocurrency every time it dipped in previous years as they were sure of positive returns in the future (now). The cryptocurrency is proving to be a long-term gem.
LINK is one of my favorite assets for long term.
I've been slowly adding(not enough) and will continue to add it to my long term portfolio on dips.
With the strength it showed in 2018 it's a no brainer for me.
I bought some more yesterday on the dip.($2.16) pic.twitter.com/ueNdcszAdR
— NebraskanGooner📈 (@nebraskangooner) October 7, 2019
Uptrend to Continue?
Chainlink offers the unique service of connecting off-chain data to blockchain. Its service targets businesses that wish to keep their data even safer when using blockchain technology. Thus, the stellar performance of Chainlink comes as no surprise. The platform is at the right place at the right time.
Numerous enterprises are opting to adopt blockchain to improve their day-to-day operations. Chainlink offers the best off-chain to blockchain data services around; therefore, the probability of the platform getting adopted by enterprises is quite high.
The market understands the profitability that lies within the Chainlink platform hence the constant investments and increasing value of Link.
— andromeda (@andromeda_IX) February 27, 2020
The market is bullish about Link. A new all-time high is soon expected and is arguably the least expectation the market has for the cryptocurrency based on its past performances.
Featured Image Source: iStock
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at firstname.lastname@example.org