The crypto trader outlined a range for buying Chainlink (LINK) at which long-term investments would bring substantial returns

Analyst Kevin Svenson called altcoin with 100-fold growth potential

28.06.2022 - 14:45 Elizaveta Antonova Elizaveta Antonova

What’s new? Cryptocurrency analyst Kevin Svenson believes that if Ethereum (ETH) falls to the $500-700 range, the price of the Chainlink (LINK) decentralized oracle network token will drop to the $2-3 level. At the same time, according to the trader, in the next few years, LINK will bring a 100-fold return if you buy the asset in this price range. The analyst shared his prediction about the altcoin's potential on Twitter.

Svenson's prediction. The crypto analyst said he is avoiding most altcoins in this market cycle. He explained that he advises ETH and LINK to buy because he believes they are the most common and in-demand assets in the industry with potential in the long term.

Presumably, Svenson's prediction of LINK's 100-fold upside potential is based on observing the asset's price movement between April 2019 and May 2021, when the altcoin price rose 13 200% to an all-time high of $53.

As of June 28 at 14:30 UTC, LINK is trading at $6,91, having gained 4,7% in 24 hours, according to Binance.

The price of ETH is $1214, up 2,66% in a day.

Earlier, analyst Nicholas Merten found five large-cap tokens whose rates are beginning to show signs of growth when paired with bitcoin. The expert called Ripple (XRP), Binance Coin (BNB), Solana (SOL), Avalanche (AVAX) and Uniswap (UNI) promising coins.

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