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Home Cryptocurrency news

While The Rest of the Market Tanks, One Cryptocurrency Is Above All-Time High

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin
Reading Time: 2min read
linkbtc chainlink bitcoin crypto
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Cryptocurrency investors are seeing red this week, as are investors in the stock market and just about any financial market due to widespread fears over the coronavirus.

But there’s one cryptocurrency that is defying all odds and market conditions and has just reached above its previous all-time high daily close.

Chainlink Eyes New All-Time High Even Admist Coronavirus Market Crash

Chainlink is the cryptocurrency industry stand out of the last year.

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It was a top performer during 2019, even while other assets were falling, the altcoin kept on rising.

The cryptocurrency asset is showing its resiliency regardless of market conditions once again and is defying all odds to potentially set a new all-time high even during one of the most extreme market selloffs the world has seen in years.

Not only has Chainlink held up particularly well, even rising amidst the economic turmoil, it is well on its way to setting a new all-time high against Bitcoin on the LINK/BTC trading pair.

$LINK
While the market is in disarray, this is above it's all time high daily close. I don't know how it does it! pic.twitter.com/ut6XsMv7XQ

— Crypto Moriarity (@MoriarityCrypto) February 28, 2020

The current all-time high rests at 48750 sats, however, the highest daily candle close tops out at 46500 sats.

Right now, Chainlink is trading at 47000 sats, and if the daily candle can close at this level, it will be a new record for the asset’s highest ever daily close.

Such a strong showing by Chainlink even despite a widespread selloff is nothing short of amazing, and breaking a record for highest daily close during this steep collapse will likely cause it to set a new all-time high and close above the former level.

Chainlink’s all-time high on USD price charts currently rests above $4.80. The unstoppable altcoin is currently trading at just $4, after reaching as low as $3.25 cents in the recent crypto market crash.

This Cryptocurrency May Be Unstoppable in the Next Bull Run

The altcoin is overperforming against Bitcoin and the rest of the crypto space, but still has ways to go before setting another new all-time high.

However, give the fact that there’s no major overhead resistance, breaching above the level is likely to send the asset into price discover mode, where investors push the price of the asset to new heights before psychological resistance levels are reached and set.

Cryptocurrency asset valuations are primarily based on speculation and hype, and with the incredible potential that Chainlink offers, it is easily among the most hyped altcoins of the current crypto market cycle.

Analysts expect the likes of Chainlink, Tezos, and other, shiny new altcoins to outperform the altcoins of the last bubble, as holders of those assets will need to sell on the way up to break even, where these new altcoins have nothing but upside in their future.

Tags: All-time HighbitcoinchainlinkLinklink/btc
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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