LINK Holders Panic As Chainlink Price Crashes, Good Time to Buy?

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As a crypto investor, I’ve been keeping a close eye on the volatile market lately, and it’s hard not to notice Bitcoin‘s lackluster performance. The same seems to be true for many other cryptocurrencies, as they’re experiencing downward trends and losing their initial bullishness due to uncertainties in the market.

One such example is Chainlink (LINK). Over the past few days, its price has been trending downwards, causing a wave of concern among LINK holders. However, even amidst this panic, analysts are viewing this as a potential buying opportunity. Let’s delve deeper into the discussion to understand whether it could be a wise move to invest in Chainlink at this point.

Should You Buy Chainlink as LINK Holders FUD

Chainlink has been around in the cryptocurrency sector for six years, but its peak period seems to be over. The Chainlink token reached an all-time high (ATH) of $52.88 four years ago, yet that level is 61% above the current price of $20.36, which is causing some unease among LINK investors. Despite occasional rallies throughout this period, including one in December 2024, a prolonged recovery has been elusive since then. Consequently, shrewd investors have been shifting away from this asset, leading to a decrease of about 3,300 LINK tokens in cryptocurrency wallets.

The decrease in price might stem from investor selling sentiments, which could be worrying. However, according to Santiment’s reports, this could just be a superficial issue and they offer an opposing perspective on the situation. As stated in the Santiment article, an increase in wallet count suggests that the community is becoming more comfortable with the project.

If the amount in your digital wallet decreases, it might suggest a surge of fear, uncertainty, and doubt (FUD). This decrease in value is likely due to the FUD, which could lead to lower prices. However, these lower prices can provide a buying opportunity for savvy investors. In fact, many seasoned investors view this recent Chainlink news as a chance to make long-term profits, even amidst the current downturn in Chainlink’s price.

Chainlink Price Long-term Price Targets

The LINK token consistently experiences surges due to new partnerships, large purchases by investors known as “whales,” and growing acceptance, all of which propel its upward trend in value. A closer look at the market indicates a possible price rebound, with a previous Coingape report predicting that the LINK price might reach $30 if the rumored collaboration between Chainlink and Blackrock proves true.

Analysts foresee Chainlink’s price trend to reach higher highs in the future, as a major investor has already secured $20 million in profits based on similar forecasts. With expanding adoption and partnerships, potential long-term goals of $43, $50, and even $100 have been suggested. This optimistic outlook is supported by renowned crypto analyst WSB trader Rocko, who believes that Chainlink’s collaborations with Swift, Franklin Templeton, and others will propel the price surge and enhance the confidence of LINK holders.

Bottom Line

Currently, while other digital currencies such as Bitcoin, Ethereum, and Dogecoin are seeing a rise in wallet numbers, holders of Chainlink (LINK) appear to be reducing their holdings following a price drop over the past week. This decrease may cause some concern among investors due to increased selling pressure, but the sentiment post remains optimistic, suggesting this could actually be a good buying opportunity. Furthermore, with the recovery of Bitcoin’s price and the expansion of global M2 money supply, analysts predict that LINK’s price will increase significantly in the long term, potentially reaching targets of $43, $50, and even $100.

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2025-01-10 12:59