Should LINK Be Part Of A Crypto Portfolio For The Long Term?
Periodically, a promising asset is registered in the market. Stocks for companies such as Apple, Facebook and Amazon are examples of assets that have turned out to be great long-term investments. Bitcoin is also an excellent example of a promising asset that became successful.
Now, LINK, the native cryptocurrency for Chainlink, maybe following the footsteps of Bitcoin and the current tech giants.
Buy During Any Dips
LINK’s price performance this year has been stellar, and the crypto community agrees.
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
Buying during dips would be the best way to stockpile LINK tokens for the long term. From LINK’s performance, future highs are expected. Thus, each successive dip in value may end up being higher than the rest.
A Working Formula
Various factors are working for LINK now. The Chainlink project has made great strides in 2019, which should prove that it is a formidable force in the fintech industry.
Chainlink employs a working strategy of ingenious marketing, practical solutions and smart services. The formula seems to be working quite well based on the performance of LINK.
The 300% price increased experienced in the Apr-Oct period is proof that LINK has enormous potential.
Moreover, Chainlink’s products are attractive to the mainstream market. The solutions they provide are likely to reduce cases of fraud while still promoting efficient payment solutions.
The Chainlink set up, their services and their products may likely attract investors who would positively influence LINK’s value in the cryptocurrency market.
Hodl For The Future?
The long-term approach to investing requires patience and tact. In LINK’s case, patience, or the inadequacy of it, maybe the drawback to its hoped success.
Blockchain adoption isn’t happening as fast as the market would have hoped for. There are several competitors also offering some services like Chainlink.
It may take some time before LINK hits record highs of maybe hundreds or thousands.
In the meantime, weighing out options and monitoring market movements seem like the most logical actions to take before making the purchase.
Featured Image Source: Blocks Decoded- PIX1861
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 email@example.com