A popular crypto analyst says Chainlink (LINK) could see short-term losses while setting up for even bigger returns down the road.
Crypto trader Kevin Svenson tells his 109,500 Twitter followers that if Ethereum (ETH) drops to the $500-$700 range, LINK will correspondingly plummet to $2.00-$3.00 territory.
“In the next few years, that’s a 100x return on Chainlink if you buy [LINK between $2-$3]. If these prices show up, you better be ready.
I’m avoiding most alts right now. The reason I mention ETH and LINK as good buys is because they are the most highly adopted projects in the entire industry. True infrastructure plays. Long-term potential.”
Svenson’s 100x call on LINK appears to be based on its performance between April 2019 to May 2021 when the altcoin rose 13,200% to its all-time high of $53.
Chainlink, the 24th-ranked crypto asset by market cap, is trading for $6.61 at time of writing. The Ethereum-based decentralized data feed and oracle platform is down more than 2% over the...
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