Chainlink made us feel "good" as one of our most essential themes played. Specifically, don't chase altcoins that have already rallied a lot. In particular, we noted that a rally to the 23% of the recent down move in any altcoin is likely just a bear market rally.
With Chainlink, we can see that people FOMO'd in above the 23% only to see prices come back, creating an ugly candlestick.
Bottom Line: In general, the decline in altcoins may be hurting big miners. We wonder if that is what drove the recent sudden drop in BTC and ETH.
With Chainlink, we can see that people FOMO'd in above the 23% only to see prices come back, creating an ugly candlestick.
Bottom Line: In general, the decline in altcoins may be hurting big miners. We wonder if that is what drove the recent sudden drop in BTC and ETH.
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