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This Cryptocurrency Is Poised to Hit New All-Time High Despite Bitcoin (BTC) Breakdown

March 04, 2020

A mid-cap altcoin is close to setting a new all-time high as the leading cryptocurrency, Bitcoin, struggles to rise above $9,000.

After hitting recent highs of $10,500 last month, BTC has yet to recover. At time of publishing, Bitcoin is down 0.10% at $8,812, according to CoinMarketCap. 

Despite Bitcoin’s downward spiral, the crypto asset Chainlink (LINK) has remained strong and continues to outperform. The cryptocurrency is now at $4.78, up 13.4% in the last 24 hours – close to surpassing its all-time high of $4.83.

Crypto Michaël, a cryptocurrency trader and analyst from Amsterdam, predicted that Chainlink would surge if it could break through resistance at $4.30. He suggests that its strong performance is a sign that the crypto market remains in an overall bull trend and that altcoins have an opportunity to rise when Bitcoin takes a break. 

$LINK #CHAINLINK

Breaker here, as you can see.

The $BTC pair of $LINK is attacking the highs already.

This bounce is already 34% in $USD value. pic.twitter.com/Hf0e8AwsmW

— Michaël van de Poppe (@CryptoMichNL) March 3, 2020

Chainlink uses a token that rewards operators who power the network, which is designed to help companies streamline the process of taking data that is external to blockchain applications and placing it on-chain.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/LevLev