Analyst predicts a 300% rise for Chainlink against Bitcoin
Chainlink's resilience amid market fluctuations has led a crypto expert to forecast a 300% surge against Bitcoin, the world's largest cryptocurrency.
Chainlink Could Rise 300% Against Bitcoin
Chainlink, a decentralized blockchain oracle network, is gaining traction due to its innovative ecosystem. Michael van de Poppe, a well-known crypto analyst, anticipates a significant bull run for Chainlink's native coin, LINK.
In a post on X (formerly Twitter), Poppe predicted a 150% to 300% exponential growth in Chainlink (LINK) versus Bitcoin (BTC) using a price chart from 2021 to 2025.
Bitcoin currently costs $67,623, according to CoinMarketCap. The cryptocurrency has slipped below the $70,000 support level, dropping 1.05% in the last 24 hours.
Poppe mentioned that he wouldn't be surprised if Chainlink surpasses this price milestone, emphasizing its pricing fundamentals and future potential compared to Bitcoin. He identified a major resistance level for LINK/BTC at 0.000448 BTC in the chart analysis, suggesting a strong breakout for Chainlink.
Previously, Poppe predicted that Chainlink's next resistance zone would be $21, positioning its price between $25 and $30 in the coming months. The crypto analyst stated that Chainlink must establish a higher weekly low.
Poppe remains optimistic about Chainlink following the blockchain company's announcement of several significant partnerships. Chainlink and Circle, a peer-to-peer payments firm, are expanding the use of USDC and Euro Coin for developers. Additionally, Chainlink has partnered with SWIFT, an interbank messaging system, to accelerate the adoption of distributed ledger technology (DLT).
These developments may boost Chainlink prices by enhancing network utility and attracting more users.
LINK Price Performance
Since January, Chainlink has consistently outperformed the market with continuous price gains. Chainlink has grown 45.01% in the last month, indicating increased investor interest in the cryptocurrency.