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Crazy Analyst Prediction: This Altcoin Will Do 100 Times!

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A famous cryptocurrency analyst thinks a big bullish trend is coming for the altcoin Chainlink (LINK). The analyst does not rule out the possibility that Chainlink could suffer a short-term decline. However, he thinks it will provide greater long-term returns. Here are the details…

The cryptocurrency trader expects 100x returns per altcoin

Cryptocurrency trader Kevin Svenson looks to Ethereum for bullish and bearish Chainlink. Ethereum is the largest altcoin and the second largest cryptocurrency by market capitalization. He says that if Ethereum (ETH) falls in the $ 500- $ 700 range, LINK will fall in the $ 2.00-3.00 region accordingly. According to the analyst, in the next few years LINK could drop to the level of 2-3 dollars. If it is bought when it drops to these levels, a 100x return can be observed. Svenson uses the following expressions:

“In the next years, [2-3 dolar arasında LINK] If you buy it, it’s a 100x return on Chainlink. If these prices go up, you better be ready. I avoid most altcoins at the moment. The reason I mentioned ETH and LINK as good buys; these are the most adopted projects in the whole sector. They stand out with a real infrastructure. They have long-term potential ”.

Svenson’s 100x call on LINK appears to be based on the altcoin’s performance from April 2019 to May 2021, when it climbed 13,200 percent to an all-time high of $ 53. Chainlink, which ranks 24th by market cap, is traded at $ 6.68 at the time of writing.

What will happen in the general market?

Svenson believes that in the general cryptocurrency market, the decline will continue in the short term. Svenson noted that the “Disruptive Domino Effect” that has developed in this bear market in cryptocurrencies is something historic. He said the process started with downward pressure on Earth (LUNA). He went on to say that this also influenced other developments. As is well known, Terra’s UST stablecoin should be traded at a ratio of 1: 1 against the US dollar; suffered a severe decline. This also negatively impacted the price of Terra’s original token, LUNA. Both currencies hit historic lows and nearly zeroed out.

Bitcoin Institutional Money Flowed To These 4 Altcoins!

The analyst said that the over-indebted market has exploded with the Earth effect and the Bitcoin miners have also given up, meaning they have sold their BTC. Next, cryptocurrency.com As we also reported, he talked about cryptocurrency lending platforms such as Celsius and BlockFi crises. Finally, the analyst used the following statements:

It’s hard for me to believe that all of this will end now with no more pain. There will probably still be some blood. But the good news is that events like this are the usual signs of a low cycle. It depends on where / when exactly.

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