Massive 30-40% corrections are nothing new to the cryptocurrency market. Bitcoin steady ascent from zero to nearly $20,000 was accompanied by large price swings as head-spinning growth is always followed by a heart-breaking collapse that eventually leads to another bullish wave and a new all-time high.
At the time of writing, Ethereum price is trading at $475. The second-largest cryptocurrency by market capitalization stopped short of $500 on Wednesday, November 18, as the upside momentum started fading away across the board. However, several fundamental factors and on-chain metrics imply that ETH is poised for substantial long-term growth.
Zeus Capital, an asset management firm with a focus on alternative investment tools, raised its stakes in proving its claim that Chainlink is the "Crypto's Wirecard."
After warning investors against buying Chainlink following the cryptocurrency's rally to a record high of $20.30 back in August, the firm tweeted out on Wednesday, November 18, that they still have $77,240 to pay as a reward to people who provide insightful information on Chainlink's questionable affairs.
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