LINK Holders Panic As Chainlink Price Crashes, Good Time to Buy?

Bitcoin’s struggling performance on the charts is concerning crypto market investors. Many cryptocurrencies are facing declining trends, losing their bullishness amid uncertainties. The Chainlink price is continuing the downtrend, with panic sentiments rising among LINK holders, but analysts continue to regard this as a buying opportunity. Let’s discuss.

Should You Buy Chainlink as LINK Holders FUD

Chainlink has been part of the crypto industry for 6 years, but its prime days are long due. The Chainlink token hit an ATH of $52.88 four years ago, but the same target is 61% away from the current level of $20.36, influencing the LINK holders’ sentiments. Although the altcoin presented multiple rallies in between, with the latest being in December 2024, a long recovery has been due ever since then. As a result, savvy investors are moving from this asset, creating a 3.3k deduction in crypto wallets holding LINK tokens.

Such a drop is associated with the selling sentiments of the investors, which is concerning. However, santiment reports call it just the surface and present a contrary viewpoint on the situation. As per the Santiment X post, if the wallet count is rising, it describes the community’s comfortable behavior for the project.

However, if the wallet content drops, this indicates some excess FUD. The price will reduce with the FUD, creating an opportunity to buy. Experienced investors also see this Chainlink news as an opportunity for long-term gains despite the Chainlink price crash.

Chainlink Price Long-term Price Targets

The LINK token is constantly riding the waves of new collaborations, whale buying, and increased adoption, eventually contributing to the bullish trajectory of this altcoin. Further analysis points to the price recovery, where an earlier Coingape report suggests that the LINK price could hit $30 with the Chainlink-Blackrock partnership rumors. 

Further analysts of Chainlink price prediction claim the altcoin will form higher peaks in the future. A LINK whale earlier booked $20M profits in similar perspectives. With increased adoption and collaborations, a long-term target of $43, $50, and even $100 is possible. This price target is backed by the famous crypto analyst WSB trader Rocko, who notes that Chinlink’s collaboration with Swift, Franklin Templeton, and others will favor the price rally while boosting LINK holders’ sentiments.

Bottom Line

Meanwhile, other cryptocurrencies, like Bitcoin, Ethereum, and Dogecoin, have witnessed increased wallet count, LINK holders are backing down with the Chainlink price crash on the weekly chart. Although the Chainlink news seems concerning to investors and indicates increased selling pressure, the santiment post maintains positivity, claiming this is the buying opportunity. Additionally, the bullish projection is still high in terms of the long-term outlook, especially with Bitcoin price recovery with global M2 money supply expansion. Due to increased adoption, analysts see the LINK price rising to $43, $50, and $100 in the long term.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.