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BTC $61266.06 (0.97%)
ETH $4110.68 (4.19%)
USDT $1.00 (0.08%)
BCH $627.22 (1.53%)
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BNB $481.14 (0.31%)
ADA $2.15 (0.31%)
DOGE $0.25 (5.41%)

Chainlink Rated as an ‘Undervalued’ Crypto, Will LINK Bounce Back?

Chainlink Rated News
  • Crypto strategist and trader, Michael Van de Poppe tweeted that Chainlink is a very ‘undervalued’ crypto.
  • The tweet generated different opinions.
  • Investors are hopeful LINK will pick up in the crypto market.

A crypto strategist and trader, Michael Van de Poppe, took to his Twitter to raise an interesting personal sentiment towards the decentralized oracle network, Chainlink (LINK). In detail, he stated that ‘Chainlink is a very undervalued crypto’. As a result, the tweet generated diverse opinions.

Specifically, some questioned what basis made him feel that LINK is undervalued when there are more useful oracles out there. In contrast, others agreed with him.

On the other hand, there are also people who wondered why LINK’s daily partnerships have no effect on the price. However, a few are optimistic that Chanlink’s recent partnership with Cardano could help increase its value.

Currently, Chainlink stands at a market cap of over $10 billion with a growth rate of 1.32%. With its price at $23.01 as of the time of writing, some believe in due time, it will break out with a hit of even $200.

Moreso, LINK users feel it deserves to be minimum at the top 10, instead of its 15th position according to its ranking in CoinMarketCap. To add on, one says he sees Chainlink going up to $500 to $800 before 2024.

Chainlink (LINK) made a massive growth in 2019 and 2020. As a result, investors question why LINK has not yet made a mark like Cardano and other top 10 altcoins. Since its launch in 2018, investors have been hopeful that the crypto would compete with top coins, like BTC, ETH, and a few others. But, surprisingly, after showing prospects in only 15 months of its debut, LINK took a turn for the worst.

Chainlink
Source: CoinMarketCap

Based on the chart above, the price of LINK is still in a bearish position. This comes after it was stuck in the same volume for quite some time. However, If LINK succeeds in reclaiming the $34 to $35 zone, new highs should be on the table.

Above all, one has to keep an eye on Chainlink (LINK) as it has chances of hitting the moon soon. It never hurts to watch and anticipate as we could see a nice move up. LINK will have its moment, it’s just a matter of time.

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Juliet is an ardent reader and a devoted writer who talks behind her keypads. She relishes her thoughts through writing articles, creative writings, and press releases.