Michaël van de Poppe the popular analyst, believes that the it is very close for the bear market to end for the decentralized oracle network Chainlink (LINK) and other struggling altcoins, as it has been revealed.
Van de Poppe, did say in a new video update that the Chainlink is down by about 80% from its $52.70 all-time high, which hit it last May.
The same crypto analyst did also spot the light on the fact that the server losses in the market are much common among the altcoins, but those in the decentralized finance (DeFi) sector.
“Some altcoins, especially in DeFi, are down 90%. It is likely that we’re going to have this downwards trend, but it’s also starting to feel likely that we’re getting close to the actual end of the bear market for altcoins…” He continued and said the following: “We are getting close towards the phase where we are starting to accumulate those positions, making ourselves ready for the next bull cycle in which the impact of [Federal Reserve rate] hikes will diminish away”.
The traders have accumulated LINK again back in February, we were revealing that in the middle of the crypto recovery phase, it has been revealed that the traders kept accumulating Cardano and Chainlink.
And one of the latest reports reveal that the top crypto analytics company states that the traders are still holding Cardano (ADA) and Chainlink (LINK) despite the crypto market’s recent price crash.
The investors of Chainlink have hesitated to leave their LINK, despite the massive downtrend.= that we’ve been seeing.