{"id":433341,"date":"2020-08-04T23:59:02","date_gmt":"2020-08-04T23:59:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=433341"},"modified":"2020-08-04T22:46:34","modified_gmt":"2020-08-04T22:46:34","slug":"even-though-chainlink-link-spiked-to-9-dave-portnoy-isnt-buying-it","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/even-though-chainlink-link-spiked-to-9-dave-portnoy-isnt-buying-it\/","title":{"rendered":"Even Though Chainlink (LINK) Spiked to $9, Dave Portnoy Isn’t Buying It"},"content":{"rendered":"

It’s been an explosive past few days for Chainlink (LINK), despite the implosion Bitcoin saw on Saturday evening.<\/p>\n

As reported by NewsBTC<\/a>, the price of the popular altcoin surmounted $9 for the first time ever on Monday. The asset reached a local high of $9.40 at the time of our report, around 5% above the previous all-time high of $8.94. Blockchain analytics firm Santiment suggested<\/a> that the surge came on an uptick of trading volume and social sentiment.<\/p>\n

While Chainlink’s price action is impressive, it isn’t convincing Barstool’s Dave Portnoy to buy the coin.<\/p>\n

Related Reading:\u00a0Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, DeFi Still in Vogue<\/a><\/h6>\n

Chainlink Continues Surge as Analysts Remain Bullish<\/strong><\/h2>\n

Since NewsBTC’s last market update on Chainlink, the asset has continued to trend higher. Just minutes ago, the cryptocurrency hit a price of $9.85 \u2014 nearing the pivotal $10 level.<\/p>\n

Analysts remain optimistic as the technicals remain skewed in favor of growth.<\/p>\n

One trader, for instance, shared the chart below. It indicates that the four-hour 50 moving average and 100 moving average have seen a bullish cross. The trader who shared the chart wrote in reference to this technical signal’s implications:<\/p>\n

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“Going strong here and on the 4H we have the 50MA crossing the 100MA which is clearly telling the direction for now.”<\/span><\/div>\n<\/blockquote>\n<\/div>\n
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\"Image\"<\/div>\n<\/div>\n
Chart of LINK's recent price action with the 50 and 100 moving averages (simple, four-hour chart) from trader Steve (@Thetradingtramp on Twitter). Chart from TradingView.com<\/a><\/pre>\n
IntoTheBlock, a blockchain analytics firm, has separately noted that the asset has a slew of positive indicators despite weakness in the rest of the cryptocurrency market.<\/p>\n
Data from August 3rd from the company suggests that Chainlink is growing as a network while LINK’s order book is being skewed by buyers.<\/p>\n
Related Reading:\u00a0Coinbase Takes DeFi Focus as it Looks to List 19 New Crypto Assets<\/a><\/h6>\n
Dave Portnoy of Barstool Sports Isn’t Buying It<\/strong><\/h2>\n
Despite LINK’s price strength, which has made it a top-performing cryptocurrency in 2020, Barstool’s Dave Portnoy is not convinced of Chainlink.\u00a0<\/a><\/p>\n
The founder of Barstool Sports and a popular stock trading personality said<\/a> in a Twitter video published on August 4th that he is not buying Chainlink because “he doesn’t know how to.”<\/p>\n
What Portnoy did announce, though, is that he will buy Bitcoin if the Winklevoss Twins from crypto exchange Gemini will help him.<\/p>\n
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1:45 in… "I'm not buying chainlink" \ud83d\ude02 https:\/\/t.co\/245tUAS3AX<\/a><\/p>\n
— Rob Paone (@crypto_bobby) August 4, 2020<\/a><\/p><\/blockquote>\n