/biz/ - Business & Finance

They want your linkies. You are seeing another shit coordinated fud to buy them much cheaper than a few weeks ago. Link was 2.4k sats 3 months ago (!!!!!), now we are at 6.4k. This is unprecedented in the crypto space in the last year. Most coins and tokens have depreciated a lot, while link kept gaining value.
With the recent awareness the project got in the last few months, the order book had A LOT of big orders wanting to be filled around 6.5k (and a shit load more probably at 5.6k), thats why its bleeding so much. A lot of buyers are still very green at this prices and want to switch some of the stack to btc, and a lot of people wanted to buy link at 6.5k. The token would have probably broke 10k without all the craziness that happened lately, but a correction is perfectly normal. This shit doesnt keep going up exponentially forever.

Look at ethereum and its mania. During ethereum big moon after "peaking" at around 0.057 sats, it went all the way down to 0.036 sats. This happened between march 25 and april 11 (2017). Two fucking weeks. It would then keep going up to 0.15 with small corrections in-between.
Right now link is much more exposed to btc movements than eth was. There's a shit load more liquidity and ability to sell much more. Don't panic. Top wallets didnt even flinched.