Wednesday, December 6, 2023

Three cryptocurrencies in the spotlight: Chainlink ready to take over?


  • Chainlink (LINK) stands out as a cryptocurrency with strong fundamentals and potential upside in the next cycle.
  • Altcoin Sherpa suggests that LINK may overtake other cryptocurrencies due to its importance as infrastructure for blockchain projects.
  • Bitcoin (BTC) could face a possible correction to the low $20,000s, according to the analyst.

Renowned cryptocurrency strategist Altcoin Sherpa shared his views on various digital assets, highlighting the potential of Chainlink (LINK) in the next bull cycle.

The analyst considers LINK to be a strong project from a fundamental point of view and may outperform other assets in the cryptocurrency market due to its position as essential infrastructure for many projects .

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Altcoin Sherpa emphasized that LINK has maintained a well-defined trading range for over 500 days, suggesting that it could be positioning itself for explosive performance in the future. In addition, the analyst suggested that LINK is a cryptocurrency that investors can consider holding for the long term.

On the other hand, Altcoin Sherpa also mentions Rollbit Coin (RLB), the native asset of the Rollbit gambling platform. Although the analyst has a long-term development outlook for RLB, he expects that the price of the cryptocurrency may see a decline in the coming weeks. However, he warned that many factors, such as regulations, could affect its performance.

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As for Bitcoin (BTC), Altcoin Sherpa has warned of the possibility of the leading cryptocurrency falling close to 20,000 as it struggles to maintain its strong momentum. The analyst points to a possible change in the market structure and suggests that the price of BTC may go to the lower 20,000 area in the near future.

Three Cryptocurrencies In The Spotlight: Chainlink Ready To Take Over?

In summary, Altcoin Sherpa offers his view on various digital assets, highlighting the fundamental strength of Chainlink (LINK) and its potential in the next bullish cycle. It also mentions Rollbit Coin (RLB) as a cryptocurrency with long-term potential, but warns of possible short-term declines. Finally, this raises concerns about the price of Bitcoin (BTC) and the possibility of a correction to 20,000.

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Nation World News Desk
Nation World News Desk
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