Van de Poppe: Bear Market To End For Chainlink (LINK), Here’s What’s Next

According to a leading crypto analyst Michaël van de Poppe, the end for the crypto bear market is closing in for decentralized oracle network Chainlink (LINK) and several other altcoins.

In a recent strategy session, van de Poppe shared with the 165K subscribers to his YouTube that the price of LINK is nearly 80% down from its all-time high of $52.70, since May last year.

However, the analyst points out that LINK is not alone in this situation. Several other altcoins, especially the ones in the decentralized finance (DeFi) sector are going through similar.

“Some altcoins, especially in DeFi, are down 90%. It is likely that we’re going to have this downwards trend, but it’s also starting to feel likely that we’re getting close to the actual end of the bear market for altcoins…

We are getting close towards the phase where we are starting to accumulate those positions, making ourselves ready for the next bull cycle in which the impact of [Federal Reserve rate] hikes will diminish away.”

According to the analyst a reversal from the bear market will take place after an initial price reaction to Federal Reserve interest rate hikes.

At the time of writing, LINK trades at $12.20, up 8.24% on the daily chart.