I was skeptical about buying LINK last year at 0.9$ after I missed out on buying some at 0.7$, for a long while I had thoughts about how far the project would go in the future; being a long term holder (investor), it is always harder to make decisions than short term holders (traders). Here’s the sad story, finally resorted to buying some LEO tokens (Bitfinex’s Unus Sed Leo) launched recently at that time and selling at approximately 1$.
Alright, keep your sympathy coming, I deserve that! But back to the story for a little while again, LINK’s uptrend continued and a few weeks later, the google partnership was announced…you know the rest!
Well, not going to overdose on some painkillers for that, but looking at the LINK charts today could be kind of depressive; for me. But that’s part of the fun in the crypto space. During this time, LINK would be ranked amongst the underdogs of cryptocurrency, good technology, pretty lesser recognition, this isn’t absolute anyways considering the fact that it moved from somewhere below 0.2$ the year before to 0.9$ at this time, but the journey was just getting started.
In my thoughts then, Leo would certainly race to some 5x gains in a few weeks, LINK will retrace to somewhere below 0.7$ and I will have a chance to buy the dip. Both never happened and 0.9$ was actually the last known dip for Chainlink and while LEO still sells for somewhere below 2$, Chainlink have done some 20x gains from this point. Alright, I’m not certain I’d have held them till this point, would probably sell off after the first 10x gains, but still, watching it cement its place at position 5 with a total market capitalization of over $6 billion I learnt a couple of lessons and would love to share them…
Technology always wins
Good technology, low recognition…I’m certain you could name a couple of cryptocurrency projects which belongs here, for me I’ll shout Pascal Coin. Link also belonged here, many feel it still does, personally I’m not certain about that. But at the time I nearly bought some, it belonged to this hierarchy.
Great team, their exploits were just gaining little attention, I always loved the technology and was certain it was going to explode, I was only wrong with the timing, but I knew it was a matter of ‘when?’ not ‘if?’.
Everyday in the crypto space, investors and traders are found stuck in this dilemma, and at every juncture, the question lies on when the technology will be recognized…if it ever will. Cryptocurrencies create a business and technology bias in blockchain technology and countless times, projects with an inferior technology is seen making the waves while a clearly superior project lurks in the dust. Every investor wishes to make profits from their investments, myself in particular. Hence, we are more likely to invest in projects which seem poised to make more returns despite being aware of the technological superiority of the other.
However, apart from LINK, we have seen good technology taking the lead at the end. Blockchain will always remain a technological innovation and not just some buy and sell program. Projects with a better technology will survive to gain the recognition it deserves provided the team continues with their hard work, the question is ‘when?’ not ‘if?’.
The $1 dream is feasible
In one of my previous articles I gave some insights on the possibility of a cryptocurrency token which trades below $1 breaking the one dollar point and exceeding it. For cryptocurrency investors, this is a dream come true. Investing in a project, buying cryptocurrency tokens well below a dollar and seeing them make gains and exceeds one dollar in value per token/coin gladdens an investor.
Many cryptocurrencies have made this remarkable journey to the one dollar mark, and investors are in constant search for a low cap coin with the potential to hit the one dollar mark. Some two years ago, an investor could buy some LINK at 0.2$, that’s a pretty long way from the one dollar mark despite the fact that it had crossed it some years back. But dare to dream.
Dreams are close to reality, sometimes the only difference is time. And for a really solid project, that time will certainly come, might take a while, but the day is somewhere around the corner, the 5x journey from 0.2$ to 1$ might seem hardly possible, but it was meant to happen. A couple of other projects have done this from an even lower point. If the tokenomics is impressive and the team is a capable one then you should trust the process and hold on tight to the ship.
One day, it won’t be BTC at the top
Let me guess, you wrote this statement off at a glance, well, that’s a common stuff in the crypto space. The crypto space is a very dynamic environment and in a blink of an eye, many things could happen, most times these things are unexpected.
Taking a look at the cryptocurrency rankings some four years ago, it will be hard to predict how things would go. In a short period of time, many projects have gone down the drain and lost their place in the rankings while other projects have soared through the rankings to gain a place at the top. The top 100 is a very unstable list with projects jumping in and out of it, the top 10 is pretty much a more stable list…even though you can’t comfortably say that. Projects like Cardano, Binance coin and EOS have found their way into the elite list with cardano and Binance coin being the latest newcomers from the three.
Well, following LINK’s amazing run of gains, it soared through the top 50 to cement its place in the top 5, a feat many didn’t see coming, and probably there’s still more gas in the space shuttle. We will certainly continue to see movements like this and as time passes by, there will probably be a new name at number 1. Bitcoin maximalists will point their guns at me for this, but, well, it’s just a probability.
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