STOCK TALK

Stock Talk: Chainlink Update

I hope you were able to buy some Chainlink 3 months ago.

Sooooo, a little over 3 months ago, I made a post here talking about potentially good investments that I would recommend. One of the investments I recommended back then was to stock up on some Chainlink, as the price for 1 Chainlink was hovering around $3.10.

3 months later and I’ve tripled my initial investment. 

Starting from the week of July 5th to July 12th, I will be documenting some of my gains due to Chainlink soaring like crazy. Just because of this surge, Chainlink is now officially #10 in the Cryptocurrency Marketcap.

coinmark
Graph provided by Coinmarketcap

7/7/2020

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So a little over a week ago, Chainlink finally broke the $5 range, which is very significant since this is the first time that the price of Chainlink has pushed past the $5 range. Prior to this, Chainlink’s all time high price was around $4.70. I thought after Chainlink broke past $5, we would slowly see a correction/sell off. But that didn’t quite happen. Pictured above clearly proves my point. $5.91 per coin. It’s on its way to hit $6. After $6 will we see a sell off finally? The answer is no. 

7/8/20

IMG_5939

The next day, Chainlink soars past $6 and it is comfortably hanging around $6.2-6.3 per coin. My portfolio soars up from $10,192 to $10,867. 

7/12/20

IMG_6074 (1)

Isn’t this beautiful to see? If I wasn’t aware of the Chainlink price all day today and resorted to notifications, my eyes wouldn’t believe what I’m seeing. The notification says it all. Within 12 hours, Chainlink broke past $6.3 all the way to $8.4. Chainlink had a 30% surge within a day, probably one of the craziest surge we have seen Chainlink do so. It’s new all time high (for now) is $8.54.

My portfolio surged from $8,400 by the beginning of the week to $14,000 by the end of the day.

IMG_6071

The craziest part of this all? If you would’ve bought in couple coins earlier in the week at around $4.8 a pop, you would’ve seen your portfolio soar by 74%. 

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FINAL WORDS:

I do expect to see a sell off throughout the week. The price is already back down to $7.8 per coin. It is extremely overbought right now, and I do NOT recommend chasing the dragon and buying this right now. I guarantee you will be able to get in at a much better price once the sell off begins. Personally for me, I don’t plan on selling any of my Chainlink anytime soon. I will probably sell some if it breaks the $10 gap, and probably buy back some more if we see a correction again.

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