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Cryptocurrency markets’ seasoned analyst frequently mentioned in discussions suggests that the altcoin markets might be gearing up for a strong surge in the coming weeks. Here are expert opinions on cryptocurrency trends!
“Chainlink Could Influence the Overall Market!”
The cryptocurrency analyst known as Rekt Capital, through social media platform X, stated that the altcoin cycle in the fourth quarter of 2023 was largely due to the rising price movement of the Layer-1 protocol Solana (SOL) and the Ethereum (ETH)-based oracle.
With both SOL and LINK witnessing gains in recent days, Rekt Capital suggested that the altcoin markets could be preparing to repeat their strong performance from the last quarter. The senior cryptocurrency analyst said in his statements:
Both SOL and LINK initiated the first wave of altcoin rises months ago. They were the top performers in the altcoin excitement cycle of the fourth quarter of 2023. SOL and LINK are recovering… They are performing much better. The market might be gearing up for an altcoin excitement cycle in the first quarter.
Expert Opinion on Chainlink
Rekt Capital is not the only analyst who thinks Chainlink has a profound impact on cryptocurrency markets. Trader Inmortal also indicated through platform X that soon after Chainlink surpassed a multi-month accumulation range, cryptocurrencies witnessed a rise in the fourth quarter of 2023, stating:
Do you know what happened the last time LINK surged? The entire cryptocurrency market followed it. LINK started its rise before all other cryptocurrencies in this cycle. On Friday, as usual, it showed signs of leading the next race. Classic Chainlink.
As the article was penned, LINK was trading at $17.91, up more than 20% since the start of the year. Additionally, SOL has risen over 24% from its January low of $79 to a value of $98.46.
