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#Crypto mass adoption

Flippening Alert: $LINK now has a larger market cap than $BCH.

Ameer Rosic

August 12 2020 at 22:20:31

Thoughts?

Best answer

E

Eric Stamper

answered 2020-08-12

$LINK is currently overbought on the weekly RSI charts (at about 90) and the daily charts (at about 84). BTC was at about 90 on the weekly at its peak back in December 2017. It is going to be difficult to keep an upward momentum as traders begin to take profits. If the price begins to decline, stop losses may kick in, causing additional price drops. BCH may also be due for a short term run, if the overall altcoin market sentiment stays high, as its RSI numbers have a bit of room to grow. I am invested in neither at the moment, but it will be interesting to see what happens.

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$LINK is currently overbought on the weekly RSI charts (at about 90) and the daily charts (at about 84). BTC was at about 90 on the weekly at its peak back in December 2017. It is going to be difficult to keep an upward momentum as traders begin to take profits. If the price begins to decline, stop losses may kick in, causing additional price drops. BCH may also be due for a short term run, if the overall altcoin market sentiment stays high, as its RSI numbers have a bit of room to grow. I am invested in neither at the moment, but it will be interesting to see what happens.