chainlink plugged inChain Link Still pumping Why? Crypto Market Update

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chainlink plugged in chainlink aave compound Chain Link Still pumping Why? Crypto Market Update
welcome back to bionic bob crypto i am your host the bionic one b.o.b baby all right so welcome to another market update its around one oclock-ish in the afternoon today all right so i want to give you guys a quick market update on whats going on with bitcoin and were also going to be talking about link why is link pumping why is it that this token as well as a couple other ones are kind of going against the trend here where bitcoin is going down but they are not all right so lets get into the um to the prices really quick here so as far as right now is concerned uh we are at a 2.03 trillion dollar market cap all together and um we are kind of going in a little bit of a downtrend here um when it comes to bitcoin okay so we see bitcoin at 41 950 really trying to maintain that forty thousand dollar mark okay if we dont uh if we dont maintain that forty thousand man there could be some uh there could be some issues on the horizon but as you guys very well know we will stay in the game of course and were gonna stay prudent and stay on our track we know hey theres too much money being printed okay theres too much inflation theres only a set amount of bitcoin and it is uh its something that the big whales the big billionaires are picking up so why arent we now you know obviously we could be buying the dip here as bitcoin dips um but you know a lot of people say it but a lot of people dont do it okay so are we gonna be the ones to do it well this is not financial advice im not a financial advisor im here to share my opinion with you guys on the crypto markets having been in the game since 2017 having gone through the ups the downs the crypto winter just never sold and just kept going okay so i just want to share that experience with you guys all right so bitcoin down a bit uh almost three points ethereum down almost seven points at 3100 another by the dip moment well maybe maybe for sure okay finance coin down five points uh solana down nine points uh ada holding its own only down a point even though bitcoin is dipping okay i had a live stream yesterday last night where we talked about ada being at a really good uh pickup price okay remember not financial advice okay uh dot down three points luna down about eight points here avalanche down six percent doge down a couple percent cheap down matic is down so we see all of this and then we see link okay link up about eight percent right now its been up excuse me about 34 over the last seven days and almost 20 over the last 30 days okay so link outperforming is there a reason why it could be possibly outperforming okay well lets lets see if we cant uh come up with uh with something here okay um so uh right here we we got an article here okay and let me zoom uh let me zoom out a little bit here okay there we go okay now first of all what is link okay what is link link is an oracle now you say okay link is in oracle will what whats whats so good about that its the oracle great okay well uh as in this this article was released um a few hours ago and we see oracle projects like link band trb are seeing bullish momentum as crypto startups intensify their focus on interoperability in 2022 okay so interoperability now as we all know a lot of layered two solutions have been created to kind of handle those high gas fees to handle the congestion to handle the speed issues that ethereum has right so we have all of those other chains involved okay weve got solana weve got matic weve got adam weve got weve got a few more out there okay in all of them weve got avalanche and all of them were created to solve those particular issues that ethereum was having okay but now in 2022 we see that interoperability is becoming a major major point of focus where now we need to inner operate amongst those chains okay and in order to do that we need something called an oracle okay now link happens to be one of the top oracles in the market since day one okay so 2022 looks to be a transformative year for the cryptocurrency ecosystem as the focus on interoperability between siloed blockchain networks comes to the forefront and a multitude of projects announced plans to interconnect their platforms with other protocols okay one sector of the crypto ecosystem that will play a vital role in ensuring smooth communication and interaction between networks is oracle projects like chain link which is the link token and also banned protocol okay or so now what do oracles do okay what is it is it is it like the matrix do we have to go see the oracle whats happening here well oracles relay data in a consistent secure and centralized manner and this is key to providing price feeds for the d5 sector and centralized exchanges okay so as you guys can see here in the graph here as shown in the graph above chain link is by far the most widely adopted oracle in the ecosystem with a near eight-fold lead in partners when compared to its nearest competitor berrydata okay now chain link has been securing new partners uh since day one chain link has been one of the major players um in the market as you guys can tell okay now um i want to jump back and i want to just take a look at at a couple of charts here okay so first of all i want to take a look at the bitcoin chart we are just holding on uh barely as you guys can see here weve got this wick down to right around 40 600 but we are making it back up almost at forty two thousand dollars again at the time of making this video which is about one p.m eastern time of january 7th of 2022 okay so we are making a few a few waves here and and trying to get out of uh this little bit of a pickle that weve got going on here now lets move on to chain link as we can see here chain link on the daily here man we have been making moves okay so as we can see there is a major point of resistance right here right here as we can see around this right around this 26 to 28 mark okay so if we can get past this 26 to 28 mark i think that were definitely going to be able to see that 34 to 35 here in the future okay from there if we can break through that then you know then weve got the next stop is 40 44 and then all-time highs up here at around 52.70 some cents here okay so but as we can see chain link definitely on an uptrend here okay and um is one of the ones thats kind of holding things holding things together right so you know we can see it right here and uh and hopefully well keep it going here all right so i know if you guys have been watching chain link uh since since a while you will youll notice that chain link is one of the ones sometimes that defies the market a little bit okay so its one of the ones that when when everything else in the portfolio is not doing as well then chain link kind of comes to the rescue thats what ive seen about it in my portfolio okay i hope the video was helpful make sure you guys subscribe make sure you guys like were gonna be doing a lot of live streams and a lot of videos like this on a daily basis to keep you guys on top of the market and to share my experience as a crypto investor as a real person with you guys in the market okay i will see you guys in the next one peace and love Chain Link Still pumping Why? Crypto Market UpdateThis channel was created to share my journey in crypto with the community. I am not a financial advisor and you should never make any financial decisions based on any videos on this channel. Crypto is a risky investment and many lose it all. Make sure you study and do your own research before investing in anything. Make sure you guys subscribe to the channel and hit the like button for daily videos in the crypto space. I will also be doing live streams at night. Hit the bell notification so that you can be alerted when I go live. Follow me on Twitter for alerts on when I go live and when I release a new video: KuCoin Referral Link: Referral Link: get $2000 referral link: Thank you Bionic BoB