In summary:<\/p>\n
Over the past few weeks, ChainLink (LINK) has proven to be the proverbial fastest horse in the crypto markets. LINK seems to be setting a new all-time high value every 24 hours with its current one being $14.46 set only yesterday, August 9th.<\/p>\n
It is with this brief background that Timothy Peterson of Cane Island Alternative Investors, has highlighted the possibility of LINK hitting $32 by the end of the year.<\/p>\n
However, Mr. Peterson has also warned that such a parabolic move up would not be sustainable. He added that investors who would be lured to buying LINK at such levels, risk losing 50% of their investment or even more.<\/p>\n
Mr. Petersons exact statement was as follows.<\/p>\n
Did some quick analysis of #chainlinks network growth rate and historical deviations in price put <\/p>\n
Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.<\/p>\n
Mr. Peterson has on more than one occasion, hit the nail on the head with his analysis of ChainLink and Bitcoin.<\/p>\n
Firstly, and in early July, his modeling of LINKs price using Metcalfes law had estimated an $8 value of ChainLink by August. Checking the charts, LINK has since exceeded this value and almost doubled it at its current price of $13.45 Binance rate.<\/p>\n
Secondly, Mr. Peterson had also used his Metcalfes model to predict that Bitcoin would hit $10k before mid-August. Checking the charts once again reveals that Bitcoin has overshot his estimates by a cool $2,000.<\/p>\n
Thirdly, and in mid-July, he had predicted that ChainLink would eclipse Bitcoin SV (BSV) and Bitcoin Cash (BCH) in terms of market capitalization. Taking a brief look at Coinmarketcap reveals that LINK has surpassed BSV and claimed the number 6 spot. Mr. Peterson has since updated his comments regarding LINK flippening BCH as seen in the following Tweet.<\/p>\n
Approximately $533 Million in market cap separates LINK from Bitcoin Cash. This means that LINK needs only be valued above $16.169 to take the number 5 spot from Bitcoin Cash.<\/p>\n
<\/p>\n
See the original post here:<\/p>\n
ChainLink (LINK) Hitting $32 is Possible but Risky - Crypto Analyst - Ethereum World News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" In summary: Over the past few weeks, ChainLink (LINK) has proven to be the proverbial fastest horse in the crypto markets. Continue reading