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August 2020 Crypto Hot Pick

Posted on August 1, 2020

by Adam Justice

category: Crypto, Finance,

Every month Thunderbolt Host CEO Adam Justice will pick a Cryptocurrency investment that he believes has potential to generate big returns. Each pick will be unique and will not necessarily be an investment that he plans on jumping in and out of in 1 month. 


This month, August 2020 I choose Chainlink (LINK). Right now it’s on a run currently trading at about 9$.

Chainlink is a platform that bridges smart contracts on the blockchain with the real world. This means that entities can make deals that are triggered or altered by 3rd party data. For instance if Tesla tells Elon Musk that he will get a $5 million bonus if Tesla sells 200 cars the contract can extract data from other sources, corroborate that data and trigger the payment.

Besides actual utility I see a huge uptick in LINK talk among small investors. In comments on unrelated Facebook ads, on forums and in Crypto groups – you can hardly see a post asking what coins people like without getting a couple LINK responses.

Chainlink has also recently made newsworthy deals and been selected by influential organizations as indices.

In the short term yield farmers coupling LINK with Compound. The Defi arena is heating up and several projects are on the horizon, with LINK being a Defi darling.

Long term Chainlink (LINK) outlook

I think it’s safe to buy LINK up to $20. I personally see this coin going to $25 within a year and possibly $50-$85 long term conservatively.

Short Term Chainlink (LINK) outlook

Chainlink has enjoyed a more consistent upswing since the recovery in mid April and has surged in July. Most analysts expect August to be a positive month for Bitcoin (BTC) and many think we are in the beginning of a major bull market for Crypto.

Personally I’m reserved. I think fears about inflation and the viability of the US currency are overstated and Crypto tracking gold so closely is ultimately bad for its short term upside. I do believe that August will be a good month for the Crypto market and LINK will outperform.


My Play

I am buying as much LINK as I can get. I’ll continue buying until the price hits 15. I plan to sell 60% at $20 and 20% at $25. I hope to hold 20% for a potential rise to $100. It’s always subject to change but I think LINK will hit $15 before the fall and my $20 sell will trigger by the end of the year. Since my investment is low I can hold it as long as needed, but if LINK fails to hit my markers before August 2021 and I have at least a 14% gain I may consider getting out just to move to more active coins.

Most people avoid cheering for the best team, but there’s a bunch of reasons why Chainlink (LINK) is poised to become a big winner in the Defi space and why attention is just expanding its possibilities. As of today everyone invested in Chainlink is in the money.