Is it too late to buy Chainlink? LINK price skyrockets 20% in 7 days and BTC20 is the next crypto to explode – here’s why -TGN

On a strong rebound since the early June pits, Chainlink (LINK) is climbing with a +75% increase over the past month, but with price action turning away from the upper trendline, is it too late to buy Chainlink?

LINK has been stuck in a predictable range characterized by +/-80% chop for over a year as Chainlink holders continue to endure a slight downward shift following the 2021 crypto bull run.

Chainlink goes down as the chopping pattern continues

Now LINK is trading against one current price of $7.61 (a 24-hour change of -3.51%), sustained price action appears to be no exception to this pattern.

The current downward move comes after the rally’s rejection following a +75% move with the impressive rally peaking at the upper trendline around $8.50.

Now in a technical retracement, LINK has lost -10% of its value so far, with the drop raising fears as LINK seemingly drops through a potential $7.75 support level.

With little localized support below, price action now seems destined to pull back the converged 20DMA and 200DMA around $6.80 (a possible -10% move from here).

There is also little relief in Chainlink’s indicators, with the still-overheated RSI pointing to a bearish divergence at 60.

And LINK’s declining performance on the MACD adds more fuel to the fire with bullish divergence marginalized to 0.094 and likely to turn bearish soon.

The technical retracement and drop below the $7.75 price level leaves LINK’s risk behind: its short time frame reward structure looks dismal at 0.2 – a terrible entry marked by an almost overwhelming 5x downside risk.

With downward moves clearly dominating the chart, many investors are rotating capital to find more lucrative returns in a short period of time – with one unlikely proof-of-stake project generating huge interest.

Bitcoin goes for Proof-of-Stake with BTC20

Have you ever wondered what it would be like to own an entire Bitcoin? Sat on the sidelines watching BTC hit another all-time high, wondering how much you could have made if you had just been there to begin with?

Built to stand the test of time using ERC-20 proof-of-stake technology as its backbone, BTC20 holds the promise of striking a whole new generation of Bitcoiners with the added promise of a greener network and passive income generation.

And with more than $1.5 million raised, less than half the presale stock is up for grabs.

Staking rewards for Bitcoin via BTC20

Holder benefits will be delivered through a new stake-to-earn mechanism, launching in the fourth quarter of this year, offering the promise of double rewards for those who commit to holding, with rewards spent in proportion to stake amount.

The staking mechanism will attempt to distribute a massive amount of locked tokens (minimum 14.95 million unsold in the pre-sale) in a gradual release of tokens that matches the Bitcoin network.

Staking rewards are tied to both the stake amount and the blocks validated, with 6.5 BTC20 per validated block being the base of the staking rewards.

This can be seen in the example below, where if a holder wagers 5,000 BTC20 over a period of one year, he will receive approximately 3,285 BTC20 in rewards – given a raw APY of 65.70%.

At an attractive presale price of just $1 per BTC20 token, interest is rising as Bitcoiner races to secure a share of the 3 million tokens up for grabs in the presale.

Imagine the potential growth, if BTC20 gains even 10% of Bitcoin’s market cap (10% = $58 billion today), BTC20 would be worth $2,790 – an increase of 278,900%.

With a token offering that mirrors Bitcoin with 21 million tokens, and a dedicated team of developers working on a roadmap that spans 120 years, the long-term sustainability of this project could very well surpass the original Bitcoin itself.

BTC20 has already gained traction with leading crypto analysts such as Jacob Burya testament to the skyrocketing traction surrounding the BTC20 presale launch.

You can use the BTC20 white paper here to familiarize yourself with the next-generation technology underpinning this exciting project. Also, don’t miss the chance to get in touch with fellow holders early on the BTC20 Twitter here.

Don’t miss your chance to join the early Bitcoin backers – become a wholecoiner today.

Buy BTC20 here

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.