The recent craze of a successful 20k hit the cryptocurrency market, having the majority of cryptocurrencies skyrocket in their prices. That wasn’t the case for ChainLink, which continued on its normal uptrend. While some would invest in volatile coins, others prefer slow and steady alternatives. Should you consider buying ChainLink and include it in your cryptocurrency portfolio?
ChainLink Price Prediction – A LESS volatile alternative
When Bitcoin first reached its highly anticipated price of 20k, most cryptocurrencies’ prices shot higher than 10% for the day, while most were up more than 50% in 1 week, like Litecoin. For ChainLink, it was a different scenario. That coin was up 7% on the day of the big news, but compared to its general trend, it was merely a rebound in its uptrend channel (fig. 1).
ChainLink learning from past experiences?
Back in July 2020, ChainLink’s price skyrocketed from USD 4.7 all the way to USD 20, making a whopping 325% within 40 days. As usual, this craze ended badly for people buying above USD 15, and the price corrected back to normal levels (fig.2).
Today, the price was still moving in its original uptrend channel, with nothing out of the ordinary to be witnessed. On usual days, ChainLink was appreciating in value. It is very normal to see a healthy increase in its prices in tandem with the Dominant coin BTC.
ChainLink Quick Stats
- Current Price: USD 13.85
- Yearly Low: USD 1.4
- Yearly High: USD 20
- Worldwide crypto rank by market cap: #7
Currently, ChainLink’s price is up 2% in the last 24 hours, and 19% in the past 7 days. Reaching its previous all-time high is a short-term target, and can be a nice profit-taking area for traders who want to own the coin at current prices, with a stop-loss level of around USD 10.
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Rudy Fares
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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