When we all opened our eyes this morning, we saw the red lights of Bitcoin and cryptocurrencies. Significant losses are likely for many of us. Of course, if no loss-making sales have been made, there is no problem. However, it is very difficult for everyone to withstand such downturns. The panic atmosphere in investor psychology brings along a wave of sales. Evaluations are being made for an altcoin in this downturn. The relevant altcoin is LINK.
LINK Price Could Rise
After the recent decline, the price of Chainlink‘s (LINK) is hovering around $15, but many analysts expect a rise soon. Factors such as negative exchange net flow indicate that selling pressure has decreased and there is significant short-term value increase potential.
Chainlink‘s native token LINK, one of the best-performing cryptocurrencies at the beginning of this year, has recently experienced a decline. However, according to analysts, these low levels could be the start of a major rally in the coming months.
A well-known cryptocurrency analyst, Crypto Wolf, has placed LINK on the list of “those set to soar” in the upcoming bull run. Meanwhile, other altcoins such as Floki Inu (FLOKI), Polkadot (DOT), and NEAR Protocol (NEAR) are also drawing attention.
10x-20x Growth Potential
The analyst known as SlumDOGE Millionaire, who often refers to Dogecoin, states that LINK is currently one of the best “blue-chip” cryptocurrencies. Following Dogecoin, the market’s largest meme coin by market value, Cardano’s ADA and Solana’s SOL were also included in the analysis.
Another analyst believes that Chainlink has the potential for a 10x-20x price increase and compares this situation with other cryptocurrencies.
Outflow from Centralized Exchanges
Looking at the latest trends, an important factor indicating that LINK is ready for a rally in the short term is the asset’s shift to negative exchange net flow in the last two days. The outflow from centralized exchanges and the transition to self-custody methods can reduce sudden selling pressure and support LINK’s rise.
Thus, while analysts highlight the potential for an increase in LINK’s value, investors can expect a major rally in this cryptocurrency in the coming months. The price of LINK is trading at $15.05, down 15% at the time of writing.
