Analyst Kevin Svenson called altcoin with 100-fold growth potential
The crypto trader outlined a range for buying Chainlink (LINK) at which long-term investments would bring substantial returns
28.06.2022 - 14:45
329
2 min
0
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.
If $ETH 🔹 dips to $500 - $700Then $LINK 🔗 will be like $2-$3 ... and in the next few years, that's a 100x return on #Chainlink if you buy there.If these prices show up you better be ready.— Kevin Svenson (@KevinSvenson_) June 27, 2022
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.
Useful material?
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024