{"id":431647,"date":"2020-07-21T13:01:49","date_gmt":"2020-07-21T13:01:49","guid":{"rendered":"https:\/\/wncen.com\/?p=431647"},"modified":"2020-07-21T13:02:32","modified_gmt":"2020-07-21T13:02:32","slug":"chainlink-link-price-rally-google-data","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink-link-price-rally-google-data\/","title":{"rendered":"Chainlink (LINK) Price Rally is Not Over, Shows Google Data"},"content":{"rendered":"
Chainlink (Ticker: LINK<\/a>) is up by more than 300 percent on a year-to-date timeframe.<\/p>\n The parabolic upside move mainly picked momentum in early July. Traders increased their bullish bets on LINK’s growing adoption<\/a> as a DeFi-powering token. The coin earlier this month became part of high-profile blockchain projects, one involving the Chinese government.<\/p>\n On the other hand, traders also moved into LINK and other DeFi-based tokens because of a sluggish Bitcoin. The top cryptocurrency traded inside<\/a> a $150-200 trading range, offering traders very little space to secure higher short-term gains. DeFi hype provided a way out \u2013 and they took it.<\/p>\n On July 15, LINK established an all-time high at $8.99 on Coinbase. The peak level attracted daytraders to sell their holdings for profits. That ensured a price correction, taking LINK down by as much as 19.78 percent as July 20 in its biggest one-day plunge since June 11.<\/p>\n <\/a><\/p>\n Another reason why LINK fell hard on Monday was Zeus-Capital. The asset management firm in its report called Chainlink project a “vaporware,”<\/a> stating that its team faked its progress to create a buying hype for its token. Excerpts:<\/p>\n “Behind the shiny facade of the multi-billion dollar project, we have exposed signs of absolute lack of interest in building the technology, team that is incapable of delivering what is currently reflected in token\u2019s market capitalization and a series of market manipulations and plain lies targeting naive investors.”<\/p><\/blockquote>\n Zeus-Capital further warned that the LINK\/USD exchange rate could fall by as much as 99 percent from its current levels.<\/p>\n Despite the warning, LINK traders remain bullish on the token’s long-term bullish prospects. That is further visible in the Google Trend score for the keyword ‘Chainlink.’ As of this week, it was a perfect 100.<\/p>\n <\/a><\/p>\nChainlink ATH and Correction<\/h2>\n
Chainlink attempts to fight back bears during the Tuesday trading session. Source: TradingView.com<\/a><\/pre>\n
Trends Don’t Agree<\/h2>\n
The search trend for 'Chainlink' hits 100. Source: Google Trends<\/a><\/pre>\n