As I have mentioned a few times previously, LINKUSDT has been a slow mover compared to many other altcoins, which actually can be explained as LINKBTC has been in a bear market since its top in Aug 2020.
A very clear illustration can be seen below:
After a parabolic run up to 0.0017BTC, LINKBTC ultimately fell and even dropped below the "mean" support line which is the Purple Trendline (as it was a strong support prior to the parabolic run).
Currently, LINKBTC is trying to return to the "mean". It has bounced off the Blue Trendline twice, confirming support at that region. Consolidation around the new "mean" could take some time, where we should see a slow and steady increase in LINKBTC.
Once the parabolic run begins where LINKBTC breaks out from its "mean", we should also see a significant move up in LINKUSDT similar to the run up from July to August 2020, where the price increased by 5x in just a month.
Altcoins which are showing significant gains (eg. DOGE, VET etc) recently against BTC are actually in the parabolic run stage, which explains their sharp increase in price. This will eventually happen for LINK, possibly several months from now, since LINKBTC is still in the early stages of a new market cycle.
The next question is: When can we see a 3-digit LINK?
Currently, we are still in a bull market, which means that LINKUSDT will have a chance for continued increase as long as BTCUSDT has not topped out.
A very possible time for LINKUSDT to reach the 100USDT level is sometime around mid of June to Aug 2021, as its price steadily increases.
I would not expect a very sharp increase in price (where we see a 3x to 5x in less than a month), as the charts show that LINK is simply not ready for that yet.
Be patient and eventually you will reap the benefits.
Side note: More information on a market cycle bubble can be found on the link below, be extra careful if you are FOMO-ing into altcoins with very high gains.
transportgeography.o...pment/bubble-stages/
A very clear illustration can be seen below:
After a parabolic run up to 0.0017BTC, LINKBTC ultimately fell and even dropped below the "mean" support line which is the Purple Trendline (as it was a strong support prior to the parabolic run).
Currently, LINKBTC is trying to return to the "mean". It has bounced off the Blue Trendline twice, confirming support at that region. Consolidation around the new "mean" could take some time, where we should see a slow and steady increase in LINKBTC.
Once the parabolic run begins where LINKBTC breaks out from its "mean", we should also see a significant move up in LINKUSDT similar to the run up from July to August 2020, where the price increased by 5x in just a month.
Altcoins which are showing significant gains (eg. DOGE, VET etc) recently against BTC are actually in the parabolic run stage, which explains their sharp increase in price. This will eventually happen for LINK, possibly several months from now, since LINKBTC is still in the early stages of a new market cycle.
The next question is: When can we see a 3-digit LINK?
Currently, we are still in a bull market, which means that LINKUSDT will have a chance for continued increase as long as BTCUSDT has not topped out.
A very possible time for LINKUSDT to reach the 100USDT level is sometime around mid of June to Aug 2021, as its price steadily increases.
I would not expect a very sharp increase in price (where we see a 3x to 5x in less than a month), as the charts show that LINK is simply not ready for that yet.
Be patient and eventually you will reap the benefits.
Side note: More information on a market cycle bubble can be found on the link below, be extra careful if you are FOMO-ing into altcoins with very high gains.
transportgeography.o...pment/bubble-stages/