According to a well-known trader known as Inmortal, the decentralized oracle network Chainlink (LINK) is a promising long-term investment in the current cryptocurrency bear market. Despite being overlooked by many traders, Inmortal believes that LINK has been building a base since May 2022, indicating the potential for significant gains once it breaks out of the accumulation range. He further suggests that the longer an asset takes to build a base, the stronger and longer its rallies tend to be when it finally breaks out. At the time of writing, LINK is trading at $8.15.
Inmortal also shares his predictions for Bitcoin and Ethereum. For Bitcoin, he anticipates a significant surge, stating that the previous all-time high of $20,000 will seem like a distant memory as the crypto king aims for $40,000. As for Ethereum, Inmortal believes that the leading smart contract platform is positioned for an uptrend against both the US dollar and Bitcoin in the coming months. At present, Ethereum is valued at $1,674.
Overall, Inmortal’s analysis suggests that LINK, Bitcoin, and Ethereum all hold potential for positive growth and should be watched closely by traders and investors.
