It’s been a tough past few days for altcoins, Chainlink (LINK) included. The price of the leading <span class=”wpg-tooltip-term-title”>Altcoin</span></h3><div class=”wpg-tooltip-content”>Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class=”wpg-read-more”><a href=”https://www.newsbtc.com/dictionary/altcoin/”>» Read more</a><p></div>”>altcoin, based on Ethereum, has dropped 3.1% in the past 24 hours alone per CoinGecko market data.
To put that into context, Bitcoin has rallied in excess of 4% over that same time frame.
Stepping back, LINK’s price action is even weirder. CoinGecko data indicates that the <span class=”wpg-tooltip-term-title”>Coin</span></h3><div class=”wpg-tooltip-content”>A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class=”wpg-read-more”><a href=”https://www.newsbtc.com/dictionary/coin/”>» Read more</a><p></div>”>coin has dropped around 10% in the past week alone. Over that same time frame, BTC gained in excess of 7%.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
Chainlink Poised to Fall Against Bitcoin
Analysts think that Chainlink (LINK) is poised to underperform BTC in the days and weeks ahead. This comes after the <span class=”wpg-tooltip-term-title”>Altcoin</span></h3><div class=”wpg-tooltip-content”>Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class=”wpg-read-more”><a href=”https://www.newsbtc.com/dictionary/altcoin/”>» Read more</a><p></div>”>altcoin rallied seriously higher against
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