It’s Still Early for Chainlink (LINK) and One Ethereum Rival As More Rallies Are Up Ahead, According to Analyst
A widely followed crypto analyst says two surging altcoins are still in the early phases of their bull runs and predicts further rallies for them.
In a new video update, pseudonymous crypto analyst The Flow Horse says that the decentralized oracle provider Chainlink (LINK) and the smart contract platform Solana (SOL) are just beginning their uptrend.
According to the trader, those who believe they have missed their opportunity to invest in LINK are wrong.
“[People are] worried about buying LINK… because they feel they missed it. I think that between the $11.00 and $8.50 is going to look like a rounding error if we’re talking a year, two years into the future as the crypto market continues to grow.”
LINK is trading for $12.56 at time of writing.
Moving on to Solana, the crypto trader says that the Ethereum (ETH) rival could reasonably double in price.
“You have Solana, that is talking about itself as being a competitor to ETH or dethroning ETH. If you look at Solana, it’s 30 times less the market cap of ETH so even if that gap closes a little bit, we’re looking at Solana doubling from here is reasonable without any kind of major changes in the market.”
Solana is trading for $41.31 at time of writing, a fractional decrease on the day but a staggering 300% increase since the start of 2023.
Looking at the king crypto, The Flow Horse says Bitcoin’s (BTC) current breakout resembles that of the one in 2021 and that the top crypto asset by market cap could find itself in the $40,000 range.
“If you look at BTC, it’s well off the lows… We’ve changed and broken through this level [$32,000]. We’re still relatively close to that level, so I think that we’re looking at $40,000, and if you can get involved between here and $31,000, I think you’re golden.
I don’t think you need to rush this. It’s kind of like when we had this breakout [in 2021]. It’s some kind of version of what’s taking place back [then], but the idea was there’s a lot of people that felt like maybe [that breakout] was late even and I just think that that’s clearly going to turn out to not be the case.”
BTC is trading for $35,196 at time of writing.
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Featured Image: Shutterstock/Tithi Luadthong
