Bitcoin
Analyst predicts 300% increase in relation to Bitcoin
A crypto analyst highlighted the Chainlink’s Remarkable Resilience amid market volatility, predicting that the cryptocurrency is gearing up to witness a 300% surge against Bitcointhe largest cryptocurrency in the world.
Chainlink Poised for 300% Surge Against Bitcoin
Chainlink, a decentralized network of blockchain oracles has been gaining traction recently, bolstered by innovative developments within its ecosystem. Popular crypto analyst, Michael van de Poppe expressed optimism about Chainlink’s native token, LINKpredicting a big rally for the cryptocurrency.
Sharing a price chart depicting Chainlink (LINK)/Bitcoin (BTC) price movements from 2021 to 2025, Poppe predicted in an X (formerly Twitter) publish that LINK is on track to witness an exponential increase of between 150% to 300% against BTC.
At the time of writing, the Bitcoin price is trading at $67,623, according to CoinMarketCap. The cryptocurrency has fallen below key support levels of around $70,000 and reflects a slight decline of 1.05% over the past 24 hours.
Poppe revealed that he would not be surprised if Chainlink reached this price milestone, highlighting his confidence in the cryptocurrency price fundamentals and future potential compared to Bitcoin. In chart analysis, the crypto analyst identified a critical resistance level for LINK/BTC around $0.000448, indicating that this point could trigger strong bullish breakouts for Chainlink.
In a previous post, Poppe identified Chainlink’s next resistance zone is $21, predicting that the cryptocurrency could trade between $25 and $30 in the coming months. For this to happen, the crypto analyst explained that Chainlink will have to set a higher low on the weekly time frame.
Poppe’s bullish outlook on Chainlink comes after the blockchain platform initiated several strategic partnerships. The chain link has collaborated with Círculo, a peer-to-peer payments company, to expand the use of USDC and Euro Coin (EURC) by developers. Furthermore, the blockchain platform recently allied with SWIFTan interbank messaging system, to accelerate the adoption of Distributed Ledger technology (DLT).
These innovative developments could serve as catalysts for a potential cryptocurrency price increase, driven by greater network utility and increased adoption by new users.
LINK Price Update
Amid broader market conditions, Chainlink has been better performance than expected, experiencing consistent price increases since the beginning of the year. Last month, Chainlink rose 45.01%, highlighting the growing demand and investor interest in the cryptocurrency.
Data from CoinMarketCap also showed that Chainlink was up 3.32% in the last 24 hours and 7.79% in the last week. It can be said that this optimistic performance is attributed to the continuous development initiatives in its ecosystem along with the recent approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).
At the time of writing, Chainlink price is trading at $18.53, reflecting a 14.86% 24-hour increase in its daily trading volume.
Featured image created with Dall.E, chart from Tradingview.com