Bitcoin and the overall cryptocurrency market have struggled to maintain positive momentum this week due to rising concerns about the Israel-Hamas war and other macroeconomic events, as well as better-than-expected US data.
At this point, BTC dropped below $27,000.
While the leading cryptocurrency BTC continues to show a downward trend, crypto research company K33 Research announced the altcoin that could be the best and safe choice for investors in its recent report.
According to Coindesk's news, the best and safest promising altcoin for K33 Research was Chainlink (LINK).
At this point, analysts pointed out that the tokenization of real world assets (RWA) is also gaining momentum in the crypto industry and said that Chainlink may be the “safest investment” for investors who want to profit from this momentum.
K33 Research analyst David Zimmerman wrote in the report:
“LINK is the safest investment if you want to participate in RWA development and not be left out when the RWA hype happens.
There are still many barriers to RWAs reaching their full potential. But RWAs will one day have a widespread and significant impact on the real world. At this point, Chainlink will be the best option to avoid being left out of this effect.”
Finally, David Zimmerman stated that there is a possibility of seeing low levels in the LINK price for a long time and said, “I think the long-term support level for long-term investors is around $ 5.70.” said.
LINK, which made a good start to October and rose to $8.2, is trading at $7.21 at the time of writing, after the declines it experienced.
*This is not investment advice.