According to an analyst, ChainLink (LINK) is destined to become bigger than Bitcoin.
According to cryptocurrency analyst Timothy Peterson, ChainLink (LINK) is destined to become bigger than Bitcoin. Mr. Peterson is an investment manager at Cane Island Alternative Advisors and shared his analysis of LINK through the following Tweet. In addition, he explained that he had transferred the excess money from Chase Bank’s account to LINK.
– Timothy Peterson (@nsquaredcrypto) July 8, 2020
“Very real possibility that #ChainLink will be bigger than #bitcoin one day. The applications are huge. I transferred all my excess money to LINK. ”
LINK for $ 8?
The key to your analysis is the Metcalfe’s Law, which he also used to forecast Bitcoin at $ 10,000 by mid-August. In the tweet predicting that ChainLink will be bigger than Bitcoin, he shared the following chart that provides a possible $ 8 worth of LINK through December 2020.
How will LINK be bigger than BTC?
On a report In May 2020, the Cane Island team explained that ChainLink was ‘a promising new incarnation of blockchain that allowed real-world information to interact. ChainLink is the first blockchain with oracle-interaction. In addition, LINK’s price is immune to Bitcoin’s price action.
Unlike most other cryptocurrencies and tokens, LINK was not materially influenced by Bitcoin’s price movements. The merit of this discovery lies not only in an investment diversification benefit, but in almost none of the popular arguments against Bitcoin would have much weight or applicability in LINK.
In addition, LINK’s fate in the crypto market is highly dependent on the growth of users on Chainlink, which is 17% per month.
We found that the growth rate of LINK users is an astonishing 17% per month. Our view is that ChainLink has viable business applications in the real world. LINK does not simply serve as a speculative reserve of value or form of payment.
Therefore, the adoption of the ChainLink protocol by companies and governments for legitimate purposes has the potential to further drive the adoption of the LINK token.