You keep asking someone admittedly new that question, Oldman, so let me help you both out.
Link is short for ChainLink, a crypto whose price has been rising lately. It is now in the top ten along with Cardano and one (smartly) named Crypto.com. These may have some use cases, that is to say some unique selling points maybe, but, IMO, they are up because they are up (and because they recently became available through more exchanges). I would say some of their rapid rise is due to speculation. People are buying, causing it to go up, so more buy, causing it to go up. I should note that Link stalled for about a week, as you can see by its chart, while XRP was best of the best last weekend; as you can also see by its chart, it gained 20% from the end of the month.
It has been 8 years since I first heard about Bitcoin. A missed boat for sure, but I did not even have a cell phone back then. Now the space is crowded with coins. People do not want to miss the boat again, but... there are so many boats. You can’t own them all and you can’t predict which one will be king for a day, as many of them have had their day in the sun—and may again. Without looking at all four thousand separate charts, I would guess most are below their all time highs, but if you diversify enough you might ride one seeing new highs as some like Link are right now. I got a little ChainLink myself as soon as I could from an exchange/wallet I was already using that finally added it. Wish they had added it sooner. And I wish I had added more on the last dip, but I did not know how deep the correction would be. I will settle for its holding its price through next week.
I expect to see more corrections in the crypto space. Corrections, profit-taking, dips, whatever your want to call them, just like with precious metals. Thanks to hyped if not hyper inflation, it is another exciting season for crypto. Do I think we are all going to get rich? Not quickly with XRP, if the last year is any indication. Meanwhile I am sure most lesser cryptos are not just going to correct, but crash. Your guess as to which ones will and when. I would be flipping them myself, if I were already set up to avoid tax headaches. Anyone here using a Self Directed IRA?
My new goal in life is to be interviewed by Chantel Elloway. When that happens, my comments will be story, observation, opinion, maybe even enthusiasm. What I say will never be instructions on how you should risk your money. Same goes for these posts.
