Chainlink’s LINK Manages To Recover After 99% Flash Crash

In the breaking news today, we can see that Chainlink’s LINK token flash crashed by 99% and reached a price of 0.0001 on the LINK/USDT trading pair thanks to the massive volatility regarding the coronavirus pandemic as we are reading in the latest LINK news.

The markets are getting smashed constantly after the many recent attempts from the high global government policymakers to dampen the concerns over the coronavirus and the economic implications. The stock market crashed further while Bitocin had a dramatic collapse as well, lowering by $1,800 in just half an hour.  The rest of the crypto market is in red by all eyes are now on Chainlink’s LINK token which flashed crashed and almost reached a zero.

LINK ended 2019 as the top-performing altcoin with its outstanding performance compared to the rest of the digital assets. this year was no different and LINK even smashed all of the expectations and reached a new all-time high despite the rest of the market feeling destroyed by the coronavirus. However, this morning on Binance as we can see in our breaking news, LINK flashed crashed because of extreme volatility and fell by 99 percent, reaching a price of nearly a zero.

Getting to the absolute low, LINK reached 0.0001 USDT on its LINK/USD trading pair and the price bounced quickly as it fell and trades at current levels close to $2.50. The major impact that the coronavirus fears are having on the crypto market is insane. These assets are susceptible to the investors’ fear and emotional state which is in a state of panic right now. Only a day ago, the news broke that the NBA was suspending all of the current seasons while all travel is suspended between the US and the EU while popular actor Tom Hanks and his wife are now contracted by the virus.

The combination of the high profile cases made investors fear for their lives and started one of the worst selloffs in the crypto market which we have ever witnessed. What is worse, this could not be the end of it. LINK fell 50 percent from its recent highs at such a speed which would be a normal opportunity to load up on the asset at low prices.