- November 11, 2020
- Posted by: virtualxstore
- Category: trading
It appears to be breaking out of a Bullish Pennant Flag in 4H timeframe and could play out over next 8-24 hours, resulting in an upside TP of $16.
From here I expect another consolidation before LINK heads MUCH MUCH higher. I have $48 set as my January 2021 TP for LINK…. LINK is absolutely indispensable for any projection running on Ethereum that has any plans of ever connecting to the real world.
Every CBDC that has announced a project on ETH will invariably have to use LINK to gather price reference data. There will be trillions of worth of contracted bonds, cash, stocks, and value that will need the LINK protocol to work properly.
Here are the 4 recent announcements of CBDC projects that will use ETH for their protocol of choice:
Central Bank Digital Currencies
ConsenSys has been on a tear recently announcing 4 different CBDC projects on Ethereum infrastructure. Let’s briefly highlight those:
Bank of Thailand to use enterprise Ethereum for retail CBDC prototype with ConsenSys – 2 weeks ago
Australia’s central bank announces CBDC project with ConsenSys – Nov. 4th
Societe Generale selects ConsenSys for CBDC experiments – 4 weeks ago
ConsenSys wins Hong Kong central bank digital currency project – 2 months ago
LINK and ETH are inextricably linked (no pun intended)…. ETH’s smart contracts need a software layer (LINK) in order to work properly, fetch data, information, and reliably retrieve this data without security flaws and without interruption from bad actors.
LINK has devoted 100% of time, effort, energy, and intellectual gravitas into building this very idea while ETH has focused on the actual value/coin stratum.
Position yourself accordingly.