Summary:
ChainLink is once again attempting to retake the $12 price area and turn it into supportLINK’s bullishness comes after Bitcoin retakes $13k and prints a 2020 peak at $13,498Binance has added ChainLink as collateral on its Loans platform
ChainLink (LINK) is once again exhibiting bullish momentum after Bitcoin pushed hard above $13k to post a 2020 peak at $13,498 – Binance rate. ChainLink regaining its bullish momentum after Bitcoin’s pump is the result of a more than two-year relationship between LINK and BTC. This relationship has been highlighted several times by veteran crypto analyst, Timothy Peterson, of Cane Island Alternative Advisors as can be seen in his tweet below.
$LINK may never hit $7. This relationship between #ChainLink and #Bitcoin goes back 2+ years. However it is just a price extrapolation – maybe ok in the short term but questionable in the long term. Could also go sideways for a year like 2019. pic.twitter.com/9kTCA7jrJ9
— Timothy Peterson (@nsquaredcrypto) October 13, 2020