{"id":404716,"date":"2019-11-18T18:00:15","date_gmt":"2019-11-18T18:00:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=404716"},"modified":"2019-11-18T16:17:12","modified_gmt":"2019-11-18T16:17:12","slug":"chainlink-2019-gains-in-danger-massive-transfer-of-wealth-incoming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/chainlink-2019-gains-in-danger-massive-transfer-of-wealth-incoming\/","title":{"rendered":"Chainlink 2019 Gains in Danger, Massive Transfer of Wealth Incoming?"},"content":{"rendered":"

The crypto asset known as Chainlink<\/a> or LINK, has been the talk of the cryptocurrency market for much of 2019.<\/span><\/p>\n

The asset has strongly performed even while other altcoins struggled, and often outperformed Bitcoin<\/a> at times throughout the year. However, the altcoin\u2019s rally appears to be coming to an abrupt end, and it could end up being one of the greatest wealth transfers the world has ever seen once the resulting drop concludes.<\/span><\/p>\n

Is Chainlink In Danger of a Deep Drop Ahead?<\/h2>\n

Chainlink<\/a> started off 2019 at barely over a quarter per LINK. At its peak, the crypto asset reached as high as $4.80 on some exchanges, reaching a return of 1614% from trough to peak.<\/span><\/p>\n

Related Reading | Road To Riches: The Ups and Downs Of Going All-In On Crypto\u00a0<\/a><\/strong><\/em><\/p>\n

After Bitcoin<\/a> peaked\u00a0in June, so did Chainlink, falling to as low as $1.50 before rebounding once again. The bounce has taken Chainlink price to as high as $3.50 but appears ready for more downside in the days ahead, as bearish divergences are forming alongside a massive rising wedge, according to crypto trader Scott Melker.<\/span><\/p>\n

\n

$LINK<\/a> (USD)<\/p>\n

Danger, Will Robinson. Bulls want to see the ascending support of this wedge hold and will be looking for a potential hidden bull div (blue) to signal an end to the clear bear div. This is definitely the moment of truth (for now) for the USD pair. pic.twitter.com\/qfYOj7VyI2<\/a><\/p>\n

— The Wolf Of All Streets (@scottmelker) November 18, 2019<\/a><\/p><\/blockquote>\n