how high can chainlink go 2021Chainlink: Time To Shine?

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how high can chainlink go 2021 Solana Saga Review: The Web3 Smartphone Has Arrived... Chainlink: Time To Shine?
hey everyone and thanks for jumping back into the cryptoverse today were going to talk about chain link were going to be doing a general market update considering that bitcoin is in fact more or less chilling above the 20-week moving average historically this is links time to shine if you guys like the content make sure you subscribe to the channel give the video a thumbs up and also check out the telegram channel which you can find a link to in the description below lets go ahead and jump in so a while back we talked about and weve talked about fairly frequently over the last couple of years the idea that link tends to do well when when bitcoin is not doing a whole lot and link actually outperformed most of the entire asset class during the bear market now recently link has gotten a decent amount of flack because it hasnt put in crazy gains in recent history but i would argue um like many things in crypto there is some recency bias there link is actually one of the few coins that was putting in new all-time highs above 2018s all-time high in 2019 and not only that the valuation of link from its 2018 all-time high is up today almost 2 000 okay now if you think about it there are not many major coins that are up 2 000 from their all-time highs from 2017 2018. you know bitcoin was 20k back then and its only two and a half x above that um ethereum was 1400 back then obviously its close to not quite but close to three times the prior all-time high link is approximately 20x right approximately 20x or so from the prior all-time high you can see the valuation over here was about 146 so a 10x would be about 14. 15 were looking at around 30 at the moment 30 to 31 so link has actually been standing the test of time but whats more interesting with link is that it also stands the test of time in the bear market okay and my argument has always been the same that link is a valuable addition to a portfolio because of how it performs throughout the cycle not just during the bull market now one of the things we have to consider with link is that it had a crazy move over here going into august of 2020 where it went to around 20 or so from here it pulled back we held the 20 week for a couple of months there was a lot of fear at this time because bitcoin was going absolutely crazy and some all coins were being dragged along with it but link wasnt really doing a whole lot and i remember watching i remember watching this wick we watched it i believe on a live stream this wick right here went all the way back down to eight dollars and from there it just rocketed us up and and we went from pretty quickly from eight dollars all the way up to 53 or so uh during during the the move that we had in may now thats not that comforting for people who bought link for the first time ever at say 30 40 50 because theyve watched a lot of other coins go up a lot more over that time period what i can say for link is ive held it for a number of years now and it tends to just generally increase with time there are a lot of all coins that dont right there are a lot of all coins that go through these crazy cycles um or say subcycles whatever you want to call them unlike link where link tends to slowly gain over the long haul for instance if we just take a look at some of the some of the things over the last several years so lets look at the lowest price in 2017 for instance the lowest price in 2017 so before this line the lowest price was around 12 cents okay so in 2017 the lowest price was around 12 cents and this was this was not even that long ago and to look at it today at 31 but 12 cents in 2018 the lowest price and we can go all the way out to to around this level the lowest price was around 16 cents okay so 2018 the lowest was around 16 cents and in 2019 if we go yet again we are going to go to the beginning of 2019 to actually get what the lowest price was you can see it was around 29 cents so even though many coins had actually put in new lows during this year link was one of the few that was actually trending up with time okay so 12 cents 16 cents 29 cents now lets go to 2020 and see what happened and were just again were just looking at the lowest price of link in 2020 um so well go over here to to uh january and this was the lowest price so a dollar 38. so while there is a lot of volatility to the upside and the downside and in 2020 we went all the way up to 20 at one point and then we came back down to eight earlier in the year we went as low as a dollar forty or so a dollar thirty eight you can see that link is actually one of the few coins that tends to just increase with time especially if you only include the bottoms and then you go to 2021 and the lowest price was 13.54 which is basically 10x what it was in 2020. so we look at this chart right we look at this chart right here and say is link has it been recently has it been one of the coins putting in the most insane gains no but i would still argue that its a decent coin to have in your portfolio i i would and the reason is because it tends to increase with time its not going to be you know its probably not going to be your typical um reddit shill its going to pump for a weekend or two and then youre not going to hear about it for a while it generally just increases with time and you can see this just by drawing a line through the data here to see that yeah i mean theres times where we are below the line theres times when were above the line but we generally increase with time i speculate my speculation with link and it always has been is that we should break a hundred dollars this market cycle and i would i would speculate that we would go above that right i would speculate we could go to several hundred dollars this market cycle that will of course be highly dependent on on the health of the entire market now the nice thing about link though is that in the bear market it actually tends to gain on bitcoin okay it cant actually gain on bitcoin if you go look at say the 2018 market um link was you know it started it started say 2018 at a valuation of um lets see yeah 258 or so this is the satoshi valuation and then by the end of the year it was already trading for about four or five times that and this was during a bear market yeah right 2018 was a bad time for krypto but it doesnt change the fact that link was generally increasing during 2018 and it was going up in 2019 and 2020 and it wasnt until august where where things changed okay so this is where things change and and i should say august of 2020. so about a year ago right this is where the market changed for link because before that we were moving up more or less exponentially right if we go back i think i still have them the link bitcoin um exponential fit bands lets see if i still have them right here i want once upon a time it seems like a different life at this point link was on this track and we watched this play out for a long time and going back in 2019 we moved above it and then we came back down and we kept coming back down to that green line but ultimately we would we would go back up and then one of the things we said is we do not know how link will perform when bitcoin is in a bull market weve never experienced it before because again link came onto the scene near the end of 2017. i mean it came onto the scene and and actually when bitcoin was going crazy in october and november link in december link was actually going down this is what weve seen before right with if bitcoin volatility is high whether its at the upside or the downside link doesnt tend to like that when bitcoin settles down link loves it especially when its above the 20 week right now though the link valuation against the us dollar is in fact above the 20-week moving average so if we zoom in here we are in fact above the 20-week moving average and this week weve seen a very modest 20 increase now obviously no ones getting out of bed for 20 at this point but that is what we have in fact experienced if we go look at the link bitcoin valuation you can see that the 20-week moving average is 61.86 or right below it so its probably an interesting area to keep an eye on can bitcoin can the link bitcoin valuation actually get above it we tried to get above it back in january we were unable to succeed we got above it in april but it was very fairly short-lived it was unlike these other times when the the moves to the downside of the bull market support band were short-lived this was short-lived this was short-lived short-lived hardly there at all now its sort of the other way around and so what we would like to see is wed like to see the link bitcoin valuation decisively come up here and start trending higher okay this is what wed like to see but the main violation of link the main one that is has been hard to watch and i do think itll turn around at some point i dont know when its going to be i would i would hope it would be now i would hope it could be this month or next month again if bitcoin is just kind of hanging out at 50k above the 20 week moving average this is normally links time to shine but the main one i think thats interesting to watch is again the link ether evaluation why we have been trying to hold the link e3 evaluation line at around 75.90 okay or maybe 7 600 lets just see and were at 78.60 weve been trying to hold this line we actually held this line this is where our wick took us in september of 2019 and this is where weve been sort of holding the line from say mid july until the present day in early september so link is at least putting up a fight here with the with regards to say the link ether evaluation its at least putting up a fight now the thing to watch out for if we hold the line is can we get above the 20-week sma with respect to ethereum okay and not just the 20 weeks of mail so the 21 we came in last time we came straight up to it and got rejected we also had to wake up to it got rejected a wick here we got rejected in order for us to even make it back to those levels against ethereum the link ether evaluation to get to the 20 week would have to go up more than 20 percent and to get to the 21 week email would have to go up 30 to give you an idea of where that would put link for a constant evaluation of ethereum a 20 move by link would actually get us to around 37 a 30 gain would get us closer to 40 dollars is too risky not to hold and i i told you guys that when it was at two dollars i set it at eight dollars i set it at twelve dollars i set it at forty dollars ill say it again at 30 right i feel like link in terms of a a good asset to have in your portfolio to navigate the cryptocurrency asset class it is a good asset now where it becomes murky i think with a lot of people is when bitcoin fails to hold the 20 week the entire market goes down right the entire market goes down its not just link and so earlier in the year i speculated hey if bitcoin holds the 20 week right if bitcoin holds the 20 week here and continues on up here theres a good chance the link is going to shine unfortunately link or bitcoin did not hold the 20 week and therefore the entire asset class went down we also know that link only tends to put in new all-time highs when bitcoin is above the 20 week again dont take my word for it just go look at the data right and were going to look at four main peaks were going to look at at january 2018 were going to look at june of 2019 well look at august of 2020 and well look at may of 2021 before the crash so again january of 2018 bitcoin was above the 20 week and it didnt fall below it until the very end of january but by that time link had already put in its all-time high at the beginning of january then you go look at june of 2019 what was bitcoin doing in june of 2019 june of 2019 was right here bitcoin was above the 20 week okay above the 20 week not putting any all-time highs right bitcoin is above the 20 week over here not putting any all-time highs that was when link was able to shine bitcoin was above the 20-week year not putting in new all-time highs link was able to shine we continue down the line august of 2020 what was bitcoin doing in august of 2020. well that was where it was up here about the 20 week and going sideways and again bitcoin was above the 20 week link went crazy put in new all-time highs and then the fourth one may of 2021 early may early may what happened in early may bitcoin is again it was above the 20 week it was not putting in new all-time highs it was sort of on its um its sort of dead cat bounce before it actually came down into our summer roll if you will again i dont consider this to be um uh this this little move over here on the daily time frame to be a dead cat balance on say like a yearly time frame or something where were gonna have to experience the multi-year bear market i dont think thats the case i again if youre new here i believe in lengthening cycles i think well continue to trend up for a while but um but during that move that was when link again that was when it put in new all-time highs so we say every single time that link put in a new all-time high it was when bitcoin was above the 20 week and not putting in new all-time highs of itself it was either after bitcoin had put in an all-time high or it was at a time when bitcoin was nowhere close to putting in new all-time highs like in june of 2019 and in august of 2020. so the question now and its too early to say because we dont know if bitcoins gonna hold here or not but if bitcoin is just chilling right here for a while could it be similar to say this move could it be similar to say another move where were just kind of hanging out above the 20 week not putting in new all-time highs i mean heres a good example of not putting in new all-time highs right here um we had a nice move up we sort of settled down for a little bit bitcoin continued his run it didnt ultimately put in new all-time highs but link it did not stop link from putting a new all-time highs okay so this is the question can link put into all-time lives now one of the things we can do too is we can look at the time between these between these major peaks so this one was 539 days this one was 420 days then if we keep going this one was around 273 days and we were actually talking about this ratio here and speculating on this one being actually maybe closer to 300 days it actually came less than that it came at 273 days but if we were to continue speculating um on maybe even as comical as it is shortening cycles uh for link to put in new all-time highs then maybe we would look at say well what if the next one the next all-time high is closer to 200 days for link maybe that could be this year still right could still be this year for a nice move by link so you know i understand that some people are not as are not as thrilled with links performance over the last several weeks um or i should say several months but my argument is zoom out of you know zoom out of the the hourly time frame the daily time frame even the weekly time frame um and i should say like dont dont just look at these perspectives look at the bigger picture recognize that link is more or less on a mission uh where i do believe it will continue increasing with time um but unfortunately link is one of the coins that it doesnt tend to do as well when when um when bitcoin is okay it just does i mean it does well when bitcoins kind of just hanging out not super bearish but if its if its above the 20 week thats when link shines thats where we are today okay and if you want to ask me is this the time where links going gonna take off i dont know like i dont i dont have a crystal ball unl unlike you know what many of you might think i dont have a crystal ball i just look at the data and say you know historically speaking it was when bitcoin was above these levels above the 20-week moving average thats what ultimately led to a link move will we get it this time i dont know and even if we do get it it might not happen immediately for instance bitcoin is above the 20 week in octa in late september october november this is when when um bitcoin came back down to hold the 20-week moving average right here during that time link was slowly trending up but that was actually sort of a painful slow increase considering the bitcoin was going um fairly crazy at the time and a lot of other all coins were doing fairly well linkedin started to move until early january okay it didnt start to move until early january and if we go zoom in here it started at that first or second week of january and thats when when bitcoin finally decisively calm down for a little bit like it wasnt on this crazy parabolic move anymore it then did make another push higher but it was several weeks later so i think thats ultimately where we are with link if bitcoin hangs out at 50k for a few weeks i would speculate that link is more likely to go higher than not if and that doesnt mean the bitcoin has to go up right i dont even think bitcoin has to go up for link to go up and put a new all-time highs if bitcoin is unable to hold the 20 moving average then its more likely that link goes down and if bitcoin goes up and puts the new all-time highs my speculation again is that link will likely be dragged up with bitcoin but it wont be putting any any new all-time highs in until after bitcoin has has sort of taken a breather for a little bit so i just wanted to provide an update on link we have ill probably put out a couple more videos on link within the next week or two one video were gonna go through all the custom charts that we like to show so make sure you guys subscribe to the channel if youre not subscribed well look at the risk of link against bitcoin link against ether link against the us dollar and then well also try to do a fundamental analysis video on link uh sometime sometime soon so make sure you guys subscribe if youre not subscribed give the video a thumbs up we have the premium list you want to check that out into the click the bell icon to turn on notifications thank you for tuning in and i will see you next time bye Yet again, we find ourselves in a position where the price of Bitcoin is above the 20W SMA, but Bitcoin is not putting in new all-time-highs. Historically, the valuation of Chainlink tends to well when Bitcoins price is just hanging out above the 20W SMA. Will Bitcoin hold the line and give Chainlink the chance to shine? Where do you think the price of Chainlink is headed?Premium List : LIFETIME OPTION: Alternative Option: Merch: Disclaimer: The information presented within this video is NOT financial advice. Telegram: Twitter: Discord: Facebook: Reddit: Website: