Inmortal, a well-respected trader, believes that Chainlink (LINK), an Ethereum-based altcoin, is a solid long-term investment despite the current crypto bear market. Inmortal, who has 199,000 followers on the social media platform X, argues that traders are not paying enough attention to Chainlink.
According to Inmortal, LINK has been steadily building a base since May 2022, indicating that it could experience significant growth once it breaks out of its accumulation range. The trader shares a chart to support his claim, highlighting the potential for big gains in the future if traders have the patience to hold the asset for one to two years.
Technical analysis often follows the saying, “the longer the base, the higher in space.” This means that assets that spend a prolonged period building a base tend to have stronger and longer rallies when they eventually break out of the range. LINK’s current price is $8.15, presenting an opportunity for traders looking for a long-term investment.
In addition to Chainlink, Inmortal also provides insights on Bitcoin and Ethereum. He predicts that Bitcoin is positioning itself for a significant surge, stating that the previous $20,000 price mark was just a nightmare and the next target is $40,000. With Bitcoin currently trading at $27,048, this prediction suggests substantial growth potential.
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Furthermore, Inmortal believes Ethereum will experience an upward surge in the coming months against both the US dollar and Bitcoin. The trader invites others to share their observations on the future potential of Ethereum. With Ethereum currently worth $1,674, this prediction offers hope to investors in the leading smart contract platform.
It is worth noting that these are the opinions of Inmortal and not investment advice. Investors should conduct their due diligence and consider the risks associated with high-risk investments in cryptocurrencies. The Daily Hodl also emphasizes the importance of taking responsibility for personal transfers and trades, as any losses incurred are the investors’ responsibility.
In conclusion, Inmortal proposes Chainlink as a solid long-term investment in the midst of the crypto bear market. He suggests that traders have not been paying enough attention to this altcoin, which has been building a base since May 2022. Additionally, Inmortal predicts significant growth for Bitcoin and Ethereum, with Bitcoin aiming for $40,000 and Ethereum expected to experience an upward surge in the coming months. However, it is essential for investors to conduct their own research and consider the risks associated with cryptocurrencies before making any investment decisions.
Disclaimer: The opinions expressed in this article are solely those of the author and do not reflect the views of The Daily Hodl. The Daily Hodl is not a financial advisor and does not provide investment advice. Investors should do their own research and consider the risks before investing in any cryptocurrency or digital asset.
