LINKUSDT: $415 to $745 Range Quite Easily by End of 2021.
Updated
Hi Everyone! We will have a better idea of a tighter price range target with Fibonacci and Bollinger Bands around August/September of 2021. If the cover chart is scrunched up, refer to the screenshot below.
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UPDATE:Another thing we need to consider in regard to LINKUSDT going much higher above the Pitch Fork BASIS is due to it already being much closer to the Pitch Fork BASIS compared to ETHUSD and XRPUSD at present.
Here's a look at ETHUSD to see how far the current price action is from the Pitch Fork BASIS:
Here's a look at XRPUSD to see how far the current price action is from the Pitch Fork BASIS:
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UPDATE:To avoid repeating myself many times; let me elaborate on a common mis-conception. What mis-conception? That future price will determine the WORTH or VALUE of an asset. To the contrary, it's actual WORTH/VALUE will be determined where we find SUPPORT "after" reaching a BUYING CLIMAX.
The "Buying Climax" we are working our way up towards at the end of 2021 is manipulated by large interest to increase their net worth in USD and also increase their holdings in Bitcoin as well as other worth while Alt-Coins for the purpose of long term investment. It is folly (in my opinion) to assume the price we run up to for our "Buying Climax" is the worth or value of the asset WHEN IT REMAINS AT THE BUYING CLIMAX FOR ONLY A VERY SHORT PERIOD OF TIME before falling to find SUPPORT (its actual value) at the bottom of a SELLING CLIMAX after a long period of DISTRIBUTION.
Many here are focused more on the "fundamentals" of a crypto project while I'm personally looking at the price of that project from another perspective. What perspective might that be? "Manipulation" ...and I monitor this manipulation with my indicators all the way up to the "Buying Climax" and thereafter.
EXAMPLE: Look at all the crap coins pumped out of nowhere in 2016 and 2017. The market makers will do it again in 2020 and 2021. Not because they believe in those crap coin projects but because they use them as a means to accumulate more bitcoin and USD. However, some crypto projects are beginning to prove themselves to be a useful "utility." Such as Cardano and ChainLink.
BOTTOM LINE: Do NOT assume the price we run up to at the peak of this bull run (referred to as a Buying Climax) is the actual VALUE of a project. To the contrary, the price we run up to is only a manipulated price by large interest who seek to increase their net worth in USD and other worth while projects in crypto.
Stay Awesome!
David
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UPDATE:A valued quote from Richard D. Wyckoff:
""...All the fluctuations in the market and in all the various stocks SHOULD be studied as if they were the result of one man's operations. Let us call him The Composite Man; who, in theory... sits behind the scenes and manipulates the stocks (Or in this case CRYPTO) to your disadvantage IF YOU DO NOT UNDERSTAND THE GAME AS HE PLAYS IT. However, it COULD be to your great profit if you do understand the game as he plays it. (The Richard D. Wyckoff Course in STock Market Science and Technique, section 9, page 1-2).
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UPDATE:Sharing the FUNDAMENTAL opinion of beastedz in comments (below):
I've got the same feeling that we will reach highs that are currently unfathomable to many due to the macroeconomics playing out globally. From my own research i've come to the conclusion that Link will be one if not THE biggest gainer.
Notice how the most valuable companies of today are related to data (Google, Amazon, Facebook, Apple) or hosting a platform but do not actually own their "product" i.e. Amazon, Alibaba, Uber
Im hypothesizing that Chainlink will become similar to the railroads of the early industrial age in the sense that it will be the platform for data to travel as it is being monetized. It is sort of a hybrid between the big data collecting tech giants as it will offer an answer for trustless data transactions and the tech companies that offer a platform for their clients to monetize their products.... just instead of offering a website and warehouse for clients to sell their goods (Amazon) or an app to connect drivers to those in need of a ride (uber) it will be a decentralized web app where big data can sell their goods to those in need in a SECURE TRUSTLESS manner.
The options for Link are limitless and we are still in its infancy similar to how early internet was only used for e-mail. We cannot yet imagine all of the use cases for a decentralized trustless oracle. Most haven't yet realized that Link is a lot bigger than DeFi, instead it has the potential to be the bridge between the physical world and the digital world.
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