what is chainlink stakingChainlink $LINK Upside Potential: Will Patience be Rewarded?

What Is Charbono Wine? A Guide to the Basics - Food Wine What Is Charbono Wine? Charbono sometimes known as Bonarda and Douce Noir is a grape variety whose roots trace to the Savoie region of France, where records Dogecoin s Price History 2023 – , $ - GlobalData Discover and get the latest insights, and updates on Dogecoin prices, view the DOGE prices on a daily basis from 2023. what is chainlink staking Chainlink $LINK Upside Potential: Will Patience be Rewarded?
what is chainlink staking VeChain Price Prediction: VET Struggles... Chainlink $LINK Upside Potential: Will Patience be Rewarded?
hey everyone welcome back to upside down data today I want to talk about chain links some thoughts I have about how link will behave in this bear market and coming out of the spirit market and then take a look at some of the models that we have here on the channel to see what they make of links right to action if you like the content remember subscribe to the channel give the video like and follow us on Twitter a lot of updates about indicators and more over there so Link in the last few months has actually been extremely boring right you know weve basically just been going flat just sideways in a Range ever since this really nasty drawdown that link saw really ever since the spring of 2021 so link you can kind of think about as having had two phases one just pretty much straight up bull market with a bunch of volatility inside leading into one fair market which were now in the middle of now the first thing I want to talk about with link that I find interesting about is current price action is that link has actually been appreciating overall ever since the lows back here in June and Elise has been setting in Daily closes that are above that whereas Bitcoin you know oftentimes seems the barometer of in the crypto space of you know whats going on is actually not seeing that you know bitcoins actually been sending in closes more recently that are lower than the closes it was putting back in in June thats one sign of relative strength that weve talked about in the past the link is held up relatively well even though its just going flat because its not going down right it going flat is better than all these other assets which actually have been going down during this time but thats just kind of a short-term observation what I want to flip to now is kind of a zooming out a little bit and just thinking about where does the link situated where is link situated in the broader crypto space and what kind of confidence can we glean based on its fundamental values fundamental situation so to start us off I want to talk about what I think everyones greatest fear is with any altcoin or really any asset in general and that said its going to just slowly die off itll never get back to its previous all-time high so anyone you know who would have acquired an asset like link for example up here in lets say this range here in the twenty dollars or you know throughout here is just going to be left holding a bag thatll never ever be worth that same amount again and it will be a loss itll be a losing investment in the long run and certainly if we just go back into the history of crypto we see some examples of that so Im going to show you here this is a snapshot on coin market cap from the beginning of January 2018 so this was around the time when a lot of all coins in this bull market were going absolutely parabolic you can see this over here on the seven day change thats this column here youll see coins that have run you know 300 77 Etc in the last week just everything going absolutely nuts when you look at the names over here some of them are familiar but a lot of them arent you know a lot of these names you may have not really seen much before I mean obviously if youre around then you might recognize them but more recently no ones really talking about these and then if we just look at some examples so Im going to pick on bitcoin no uh no mean for offense you know Im not trying to to call out Bitcoin investors if youre still bullish on it but just looking at some charts of some of these assets you know I think this is what a lot of people are afraid of so this is the bytecoin chart coming throughout um to the current time and you can see these big this big rally in 2018 and then more or less nothing since a little kind of blips and a little bit of volatility back here in 2021 but more or less just nothing this an asset that looks like it just slowly bleeding out the slow death another one which was number 42 um back then in 2018 it was Dragon chain another asset that you probably havent really heard much about more recently and again except for a little blip of volatility back in 21 you know it had its Heyday back in 2018 and then basically just bleeding out slowly not really a whole lot going on basically a dying investment probably one that is never going to see all-time highs again not trying to call you out if youre a dragon chain Bowl but you know the chart is the chart looking at this its very hard to believe that suddenly this is going to go ripping and break his previous all-time high its set all the way back then so thats what I think a lot of people are worried about right and with chain link you know maybe people have that same fear you know with the link starting to go in this brutal downtrend not being able to put in a new all-time high in this um you know in November of 21 when a lot of other assets were putting in new all-time highs Bitcoin included you might say oh was that just a really negative sign does that mean that link is going to slowly bleed out like all those other all coins weve seen this happen to already well theres a big difference between chain link and a lot of other all coins and that is its fundamental value to the broader crypto space you know chain link is in Oracle which means that it provides data to a lot of other apps a lot of other chains and applications that are on those other chains and the thing that really the differentiates chain link in some ways is that not only is it an Oracle in some ways it is the Oracle and we can see this just here on coin market cap just by taking a look at the Oracle category you can see the chain link is at you know 3.3 billion well off of its all-time high but you compare that to the runner-up its still massively bigger you know the market cap of chain like dwarfs basically any other uh Oracle chain thats out there really none of them you can even hold a candle to chain link and we can see this also just with the adoption so here I am on the chain link official website just looking at the ecosystem you can see that link is integrated with thousands of different applications across many many many different blockchains and so you know not only is linkages larger in market cap its also much larger than any of these other Oracles in terms of adoption and so what that means is that link has situated itself as being kind of the lifeblood of a lot of these applications right D5 being a big one but also nfts gaming Etc link has become one of the key Utilities in the crypto space is the lifeblood of a lot of these different um chains that people are relying on chain link to provide this outside data thats needed for the functioning of these D5 protocols these gaming protocols these have t protocols Etc et cetera Etc so if someone thinks that web 3 as a whole because thats really what were talking about here chain link has kind of integrated itself as being one of the cornerstones of web3 if someone thinks that web3 is going to ultimately succeed then that means that one probably also needs to think that chain Links going to succeed weve talked about this before so one of the things thats kind of special about link relatively a lot of the other assets we talk about because when we talk about a layer one blockchain like ethereum Avalanche Etc you know we talk about those as being Utilities in and of themselves you know they allow building on top of them but theres so much competition in that space you know its its not even clear if ethereum is necessarily going to hold the crown a lot of people think it will some people think thats ultimately going to follow the one of the rivals its not really clear with any of those l1s which ones might be able to stand the test of time and which ones may or may not have already put in their all-time high that theyll never be able to break I think with the link we know that if web3 succeeds link cry will succeed as well which might give us more confident or confidence that this all-time high we saw back here in the spring of 21 wont hold up if web3 were to have another big explosion in a future full Market whereas we dont know if every single layer one would still be around to do that for example as a comparison and so really then the question that we have to be asking is you know Im going back to a historical snapshot here from uh May of 21 about around about where um chain link put its all-time high in price and then therefore its market cap really you know if youre going to be like long long term bearish on the link youd have to think that itll never be worth more than 21 billion to provide the services it provides to web three and so what youd really be arguing then is at the top of web 3 was in the spring of 21 in some ways that might be what you argue and really that is actually kind of in some ways the way it was you know D5 had its top in in the spring at 21 et cetera so even though the crypto market cap got bigger you know you might see the the hype of web3 being as strongest in the spring of 21 but even going into you know the fall of 21 youd have to say that that the 2021 in general was the top of web 3 and itll be down only from then on out to in my opinion think that this top of 21 billion will be the most that chain link which provides the lifeblood of a lot of these you know web period applications that that would be the peak valuation because I think if webcre turns into what some people think it could be where its you know managing trillions of dollars worth of assets than for an oracle service like chain look thats that important to it for it to be capped at 21 billion seems a little bit unlikely now again thats very long term speaking so I dont want to you know that and also thats my opinion its not Financial advice of course and you know who knows when wed get back to that point when web period really explode there could be a lot more short-term pain in between that or short to medium even longer term before we ultimately see that up that move up I think thats the thesis that one has to think about is if your overall bullish on web3 it seems hard to me to not be bullish on link long term I mean you could make the argument that if things drag out long enough theres some other Oracle that could come out that could supplant link but so far we havent really seen any signs of that and its hard to see why that would happen I think so many people trust link has such a big early mover advantage that at the very least its going to be in contention for a long time I would expect unless something really horrible happens something really horrible were to break which I again so far nothings gone wrong hard to see you know what that could be all right so if thats the case then we also have to think about you know why has link been falling off at all well I mean obviously its been falling off because were in a bear Market the other thing about Lincoln Community part of the reason why I didnt reclaim all-time highs back in November of 21 is that up until this point link has had actually pretty limited utility to the average investor you know link is the currency by which you know node operators kind of uh settle monetary transactions you know its its the payment vehicle in the chain link protocol but unless youre actively interacting with nodes or running a node theres not a whole lot of reason to be using link one one thing that is actually changing though with that is that staking is coming and Im sure everyone watching this video if youre familiar with link youre well aware of staking coming to link soon and this is one of the first things that link is really doing to try to make itself have a bigger use case of the broader investment class right its not just people who are running nodes or who are you know interacting with chain link to grab data from it but just holders of Link can now get some benefit of doing so by helping to secure the network then of course earnings staking rewards and thats coming out official timeline is sometime in December of this year so sometime relatively soon and so when we think about that then and were just thinking about that long-term bullish goal case again the bear case if youre going to believe the bear case for a link you have to think that web 3 will never be worth so much that the Oracle service propping it all up would would ever be reasonably worth more than 20 billion dollars you know right and that there would be no hype cycle that could ever push it beyond that even if thats not its true value I personally dont think thats very likely in the long long term I think that link is an asset that I think will stick around as long as web 3 is around and so really a bet on link is a bet on web 3. now theres no guarantee that web period will succeed right you know it could be its very possible the web 3 is all just hype and all just you know a bunch of buzzwords thats ultimately never going to be anything its not my view something that of course you have to think about but I just think that thats a unique thing about link is that the case for link is not link itself its more so a case for web3 whereas a lot of other assets are not so much a case for web3 you know a lot of l1s web3 can succeed while that particular L1 fails its hard to see a world in which web3 succeeds and Link doesnt benefit from that as well so thats the first thing I wanted to call out that link in some ways has some special fundamental properties that a lot of other all coins dont which gives me a little bit more confidence in this endurance long term doesnt mean its going to perform especially well for who knows how long but I do think eventually it will probably be able to reclaim this all-time high if not higher not Financial advice just my opinion on that okay so with that in mind lets Now flip over to some of the indicators we have on the channel and just see what theyre thinking about link right now so thats the long long term kind of fundamental Bowl thesis for link as I see it lets talk about some kind of you know more shorter term um relative to that super long-term perspective and just see where a link sits right now so Im showing you here the upside downside potential indicator for link the long-term version of the case that occurs but moves to play over a month so still long term focused but maybe not as long term as that you know macro fundamental thesis I was just talking about if youre not familiar with this indicator its our risk indicator or thats the way that we like to the easiest way of understanding it probably risk indicator and so higher values you get are higher risk lower values are lower risk and so you can see because this has done a great job overall in Links history of identifying these high risk points these tops and local tops and these low risk points where aquarium link has been advantageous and what youll notice is that we are weve coming out of a period of deep deep green right so if we look at the raw values here for link the long-term ddpi so the white line is the udpi level the yellow line is the link price you can see that at the low at the local low back here in June we went and set in a very low reading on the long-term DPI the only time weve ever been that close was all the way back here in late 2018 you know and really the last time weve been below negative four was at the absolute lowest price link has ever been back here over here and now again over here now we had come back out of that as we started to move back up and the model you know was pricing in the possibility of more downside weve come kind of back down to that range long-term view apis come down there as well but overall this is a deep value zone for link historically speaking right you know every time weve been below negative three as generally speaking been a pretty good time to acquire before moves back up now one difference that were in right now versus in the past is that really except for this move in here we were just in a bull market this whole time so of course in a bull market getting down to these readings is just an obvious no-brainer its like well of course these are these are good times to be buying were in a bull market you know movements to the upside are more likely to then to the downside and so thats just buying the dip buying the dip buying the dip before shooting off to the upside its a bit different here in a bear market right where we dont know if this is the absolute bottom and so they kind of buy them the dip mentality you know going all in at these readings might not be ashamed just because it could be that lower prices will come and certainly the model thinks that that is possible or prices could come that we could break from this range to the downside its just thinking that theres more upside potential thats realistic than downside but its something to keep in mind right and so thats where being at you know below negative three is not nearly as much of a you know go nuts now and expect just massive returns very short term like it would have been back here you know we might be waiting for a while even if we just end up being in this range we might have to be in this range for quite a while before more upside comes but what its saying is that long term over the coming months if things upside is more you know theres a greater amount of upside thats realistic than there is downside so this is of course you know bar ruling out any kind of macro Calamity you know like the bond market blowing up or the stock market absolutely crashing or something like that well have to wait and see those are things that you know are extrinsic to the crypto markets that could certainly have an effect but if that doesnt happen if historical Trends you know continue to be predicted of the future more likely than not I think well look back at this you know a year two years from now and just look and say oh man that was the accumulation zone right that was the time before we go set off some move to the upside so not Financial advice rate Im definitely you know not saying that downside cant come from here it certainly can but thats just the way that Im interpreting this is that it would you know I would I would expect that in the coming years especially for that long-term fundamental thesis that these prices will look quite attractive relative to where a link could go in the future if web3 has the run that I think is possible I also want to show the short-term version of the udpi for link thats this one right here this is just more volatile it cares what moves a player over days to weeks so its its more reactive to these shorter term moves telling a similar story excuse me story right were down at around negative three you know weve gotten down to around negative four again you know back over around here at around the lows but generally speaking still more upside potential thats realistic in the shorter term than downside and so you know wouldnt surprise me for a link to go on a run especially the router crypto Market is able to get break out to the upside from this range has kind of been stuck in for the last couple months and that could then start chewing up some of this realistic upside potential here now the final thing I wanted to talk about in terms of risk for a link was just to compare it to some other crypto assets so we have assets over here Bitcoin we have price here and then um these are our short-term risk levels median term risk levels long-term risk levels looks like my um my titles got chopped after a short medium long and so Im just going to call out where link is right now so its sitting at negative 3.02 on short-term risk negative 2.42 on medium-term risk thats risk that thats moves akara over weeks to months that this model is looking at or this version of the model is looking at at negative 3.29 is the long term thats what were just looking at over here and we can compare that to the other Assets in the crypto space we can see that its not bad right its sitting kind of more or less in the middle you know theres some that are quite a bit higher you know Quant being a notable exception here than other ones that are kind of in the negative one ish range negative two ish range like this thing in a pretty decent spot and thats notable because it wasnt there just not too long ago right if we look at the short-term Beauty udpi you know around the last time I gave an update were up in kind of the negative one even above zero kind of range both on the short term then the medium or the the long term were up at around negative two weve cooled off notably across time frames since then and so you know if we do get a breakup to the upside you know this could be a great time to ride some of that volatility thats of course assuming the breakout comes to the upside we dont know that it could be break down the downside which brings it even lower but thats just what Im seeing with this that especially with the short term udpi if we get a breakout to the upside the crypto space I would expect us to be able to chew up a good amount of that short-term upside potential so again not fight not Financial advice just what Im Im seeing in this and then the other thing that we can look at also which might point to a change in momentum for chain link is the momentum bias indicator so this is the MDI what it does is it quantifies momentum and especially when momentum is biased to the upside so until price really gets shoots to the upside any short term drawdown quickly gets bought up and pushed to the upside versus downward bias momentum bias which is below zero and the red here which tends to really dominate in Bear markets where we are right now before it pulls price down rallies get sold quickly and just keep moving back down so what Ive talked about with bear markets forever with the MBI is that The Telltale sign youre in a bear Market is this Behavior exactly what weve been seeing with the link where youre getting its a deep red youre trying to re-establish possible momentum bias and you get rejected you try again you get rejected just this draw down this deep red nastiness that weve been in whereas bull markets are this where youre spending a lot more time in the green than in the red now one of the things I think is really interesting about the link MBI historical chart is lets just take a look at how its behaved right so we can see that when were in this bull market here you know especially when we got to the the melt your face part of it you know going up in from here in 2020 early after the March crash going off to ultimately the all-time high is that what ended up happening was that youre kind of setting in higher highs um or excuse me higher lows on the MBI chart kind of all the way through this and then you know youre staying spending a lot more time in the green and then that broke you know going into the um summer of 2021 has never really been able to change and then weve been seeing this massive bearish move on the MBI really actually ever since the summer of 2020 right thats when were actually at the highest rating of the MBI and then even going into the all-time high we actually saw some bearish Divergence price going up momentum kind of coming down and whats notable is that this trend line on from the tops has gone all the way through until here we actually broke through it right you know we were sitting in lower highs on the MBI going all the way through here until here then more or less setting and lower lows on the MBI not really quite but you know here here here through here that also has broken so far we have not set in a lower whoa so what that might mean is that were seeing a reversal in momentum so this can happen where you see these trend lines on Bottoms Trends lines on tops when they break like what we saw here lower uh higher low higher low higher low broke down then we started going to this bear Market maybe were going to see a similar thing going the opposite direction here were seeing higher low higher low higher low all the way down through here thats something we broke through setting a higher low here than we have back here and now weve not set in a lower low from Wayward down here and what that could point to is a extended period of consolidation and Ive noticed this noted this before with other assets when you start seeing this oscillation around zero right where were not seeing deep two extremely deep values for too long before going back to the other side kind of what were seeing here right going up oscillating up up down here down here if we start seeing that oscillation around zero Behavior that could be a sign that were entering into that transition between a bear market and then a coming bull market because weve seen that with Bitcoin weve seen that with ethereum were seeing that you know weve seen that with a link weve seen that with a whole host of different assets the MBI that when you start going from this transition between this obvious bear Market Behavior into that oscillation around zero that can be that sign of Shifting in momentum that instead of having a super dominant positive momentum biota super dominant negative momentum bias youre just kind of getting an average move youre just kind of just generally just kind of chilling out and that often comes before those big moves back to the upside so again thats thats assuming we dont get any crazy external shocks to broader macro markets that just throws us all out the window but if that doesnt happen and if history or history is any guide you know if we dont see this fall off a cliff and set a new low here if we just start oscillating around zero that could actually be a very bullish sign even though the price action might look extremely boring just stuck in this range like we are right now so Im going to keep an eye on for sure something Ill be updating on as well so just to kind of wrap us up then with link this has been kind of a longer video but I think some interesting things to think about with link that the long-term macro thesis is not broken by any means link is still the lifeblood of web 3 to some degree in terms of you know be able to bring in outside data which is essential for a lot of crypto product projects they need to know for example about price data from other areas and then theres a whole host of other d-apps that need outside information for whatever one reason or another link is the thing thats providing that way far beyond above any other Oracle protocols and so the long-term thesis is very much intact and in short term were seeing some possible signs of relative strength and a change in the tide and if that happens link is sitting in a place where it has a ton of upside potential that is possible so Im not calling for a rally right Im not calling for a melt your face off rally for a link I have no idea we could go and set in a new leg to the downsides absolutely possible but I think we should be vigilant that while link is the most boring right now that has been in a while just going sideways in some ways this is the time in my opinion thats most important to pay attention if we do see clear signs of a break to the upside we know that link has a lot of upside potential that it could go on to realize so its something to keep an eye on I think the break of this range in one way or the other is going to be really really important and its a break to the upside you know the last thing we want to be is those people who are just fomoing in having missed it because they werent paying attention all right if you like the content remember to subscribe to the channel give the video like and follow us on Twitter a lot of updates about our interviews and more over there LINK has fundamental and market share factors that are unique in the crypto space that might set it apart in terms of how much of a long-term risk holding LINK could be. We discuss these factors and more. The UDPI is a risk indicator we developed that helps identify when the risk/reward ratio for LINK is favorable or unfavorable. Subscribe and press the notifications button for more videos about LINKs UDPI as well as the UDPI for other crypto assets. We have a website coming soon that will host live data from our models. We are making the website in collaboration with Jay from Daily Crypto Analysis. Make sure to subscribe to DCA if you havent yet: Disclaimer: None of the information presented in this video is financial advice. The information presented is for educational and entertainment purposes only. Twitter: crypto cryptocurrency bitcoin btc ethereum eth chainlink link cryptocurrency,ethereum,eth,