ChainLink Is a Bubble: What the Link Marines Won’t Tell You.

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For weeks now, we’ve been witnessing the rise of a relatively new cryptocurrency called ChainLink.

Chainlink (LINK) is a decentralized oracle network which aims to connect smart contracts with data from the real world. Chainlink was developed by Sergey Nazarov, with Steve Ellis as the other co-founder.

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It’s risen over 9000% since 2017, and is currently ranked as the fifth largest Market cap coin. With a price of just under $20, and severe FOMO prevalent in the markets, I’ve decided to write this article that will highlight several reasons why this coin is in a bubble, and will ultimately fail.

I recently did a poll on Twitter which polled over 7000 crypto investors on when they first started trading Cryptocurrencies.

A whopping 53% said they only got in, after 2017. This means a large portion of the community are new investors, and haven’t yet experienced the 2017 ICO bubble, or the outcome too many speculative coins.

I’ve been in the market since 2011, and have learned many things. One of them, is to never fall in love with a shit coin. These projects are intensely marketed, and once they have enough greedy investors staring at the charts, they often launch to the moon.

If we study the charts from pre-2017, we see they all started and ended in the same way. They experienced a quick bubble, which eventually popped, and left many investors bag holding for years.

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The chart above shows the average price of ICO’s over the last five years. As we can clearly see, they all did the same thing. If you open up ChainLink’s chart, you’ll notice the similarities are breathtakingly similar.

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70% of the Coins Supply is held by 9 Whales

This is something that not a single ChainLink holder will tell you.

It frightens them greatly, and they have it in the back of their heads. Hoping that one day, the 9 people who hold 70% of the coins don’t dump on them.

To put that power into perspective, if those whales begun dumping now, they could crash the coin by over 99%, and it could be trading at under a cent.

I’m not sure how any investor is supposed to feel confident in a coin with such a terrible division of supply. The people at the top having all the power, and the Link Marines freely advertising for them all over Twitter. Sounds like a Ponzi Scheme, doesn’t it?

Thats because, in a way, it is. Much more advanced though.

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Zero Revenues — 0$

For a coin with a 6 billion dollar market cap, you would think that the company behind it would at least be profitable. Nope!

Data shows that the company has yet to make any revenues. This has the highest market cap out of all DeFi projects, while still having the lowest revenue out of all.

Price Doesn’t Equal Quality

This is something I wanted to talk about because many have yet to understand this. The growth of an asset has no correlation to the quality of it.

Bitconnect was once ranked as one of the top 10 coins in the world, and many Investors used that as confirmation that it was “safe”.

It’s price also grew steadily for over 12 month straight, before popping and crashing to zero. This leads me into ChainLink.

A common debate argument by Linkies is that ChainLink is the best because it went up in price. That argument lacks any logic. Virtually every altcoin had the same pump and dump in 2017, and the majority of them are scams.

ChainLink hasn’t done anything unique. The only reason it’s pumping now is because it missed out the 2017 rally, and never had its chance to show its true colors.

Conclusion

Link is the most overvalued cryptocurrency in the world right now. I strongly believe that the price will correct significantly, and I highly recommend that any investors either sell their positions, or avoid it in general

Within a few months from now, this article will have aged extremely well. While nobody knows what the exact top will be (which is why shorting is also very risky), we know the outcome. It will pop, and leave the Link Marines posting pink wojaks and talking about how they went bankrupt.

I agree with everything mentioned by ZeusCapital. He has many articles exposing the fraud of ChainLink, and why it’s not a good investment.

You can read them here: https://zeus-capital.com/news

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Sharing Stock Market + Cryptocurrency Trends, Dynamics & Cycles | Entrepreneur | Non-Biased/Non-Emotional Trading + #Bitcoin #Cryptocurrency

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