BTC

$97834.795

-0.39%

ETH

$3370.205

-1.30%

BNB

$657.855

-0.23%

XRP

$1.44

-1.38%

Market

LINK investors make their first profit in 2 months, but how long will it last?

January 16, 2022 - Around 2 mins mins to read

As the overall market slowly begins to recover, altcoins like LINK are also showing bullish signals. But while the attractive yields are attracting new investors, several other factors suggest they won’t get as much as expected.

SHORTCUT Thousands of thin ice?

For any asset, the most important factor is always the growth of the network, and Chainlink is a leader on this front. In the past few days, Chainlink products have become widespread across the crypto space as they are deployed by decentralized applications on every chain, not just Ethereum and BSC. The latest of these are Avalanche, Fantom and Polygon.

As the network continues to grow, investors are also benefiting from increased adoption due to the recent price recovery.

About 10 days ago, LINK broke its downtrend again, but good results are expected this time. As the price action tests the critical $25.2 resistance, LINK has a chance to rally as the downside strength appears to be fading, according to ADX.

LINK1

LINK price action | The source: trading view

The rally helped LINK break its downtrend and also helped nearly 30% of investors recover from losses in November and December.

The network’s first real gain in over 2 months could attract a flood of new investors into the asset.

LINK 2

Chainlink Network receive benefit real after 2 months | The source: mood

Also, the low network speed is a sign that investors are focusing on HODL instead of taking profits. So new investors may have similar intentions.

3 LINK

speed belong SHORTCUT | The source: mood

Next, the only concern would be LINK’s correlation with Bitcoin, which currently stands at -0.68. A month ago this would have been a bullish scenario. But for now, the king coin is on the verge of a possible recovery. Therefore, a negative correlation at this point will cause LINK to decrease instead of increasing.

1642306406 479 LINK investors make their first profit in 2 months but

BILLIONCorrelation of LINK with Bitcoin | The source: Into the block

So, in the future, this will be an important indicator to understand the probability of loss when investing in LINK.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

investors

LINK

long

months

profit

Avatar of Annie

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

LINK investors make their first profit in 2 months, but how long will it last?

As the overall market slowly begins to recover, altcoins like LINK are also showing bullish signals. But while the attractive yields are attracting new investors, several other factors suggest they won’t get as much as expected.

SHORTCUT Thousands of thin ice?

For any asset, the most important factor is always the growth of the network, and Chainlink is a leader on this front. In the past few days, Chainlink products have become widespread across the crypto space as they are deployed by decentralized applications on every chain, not just Ethereum and BSC. The latest of these are Avalanche, Fantom and Polygon.

As the network continues to grow, investors are also benefiting from increased adoption due to the recent price recovery.

About 10 days ago, LINK broke its downtrend again, but good results are expected this time. As the price action tests the critical $25.2 resistance, LINK has a chance to rally as the downside strength appears to be fading, according to ADX.

LINK1

LINK price action | The source: trading view

The rally helped LINK break its downtrend and also helped nearly 30% of investors recover from losses in November and December.

The network’s first real gain in over 2 months could attract a flood of new investors into the asset.

LINK 2

Chainlink Network receive benefit real after 2 months | The source: mood

Also, the low network speed is a sign that investors are focusing on HODL instead of taking profits. So new investors may have similar intentions.

3 LINK

speed belong SHORTCUT | The source: mood

Next, the only concern would be LINK’s correlation with Bitcoin, which currently stands at -0.68. A month ago this would have been a bullish scenario. But for now, the king coin is on the verge of a possible recovery. Therefore, a negative correlation at this point will cause LINK to decrease instead of increasing.

1642306406 479 LINK investors make their first profit in 2 months but

BILLIONCorrelation of LINK with Bitcoin | The source: Into the block

So, in the future, this will be an important indicator to understand the probability of loss when investing in LINK.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Leave a Reply