A crypto analyst has highlighted the Chainlink remarkable resilience amidst market volatility, predicting that the cryptocurrency is on the point of witness a 300% surge against Bitcoin, the world’s largest cryptocurrency.
Chainlink Poised For 300% Increase Against Bitcoin
Chainlink, a decentralized blockchain oracle network has been gaining traction recently, bolstered by the modern developments inside its ecosystem. Popular crypto analyst, Michael van de Poppe has expressed optimism about Chainlink’s native token, LINK, predicting a significant bull rally for the cryptocurrency.
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Sharing a price chart depicting Chainlink (LINK)/ Bitcoin (BTC) price movements from 2021 to 2025, Poppe forecasted in an X (formerly Twitter) post that LINK is on course to witness an exponential increase between 150% to 300% against BTC.
Source: X
As of writing, the price of Bitcoin is trading at $67,623, in keeping with CoinMarketCap. The cryptocurrency has fallen below key support levels of around $70,000 and reflects a slight decline of 1.05% within the last 24 hours.
Poppe has revealed that he wouldn’t be surprised if Chainlink reaches this price milestone, underscoring his confidence within the cryptocurrency’s price fundamentals and future potential in comparison with Bitcoin. Within the chart evaluation, the crypto analyst pinpointed a critical resistance level for LINK/BTC around $0.000448, indicating that this point could trigger strong breakouts upward for Chainlink.
In an earlier post, Poppe identified Chainlink’s next resistance zone at $21, predicting that the cryptocurrency could see its price trading between $25 and $30 in the approaching months. For this to occur, the crypto analyst explained that Chainlink can have to determine the next low on the weekly time-frame.
Poppe’s optimistic outlook on Chainlink comes after the blockchain platform has initiated several strategic partnerships. Chainlink has collaborated with Circle, a peer-to-peer payments company, to expand developer usage of USDC and Euro Coin (EURC). Moreover, the blockchain platform recently allied with SWIFT, an interbank messaging system, to speed up the adoption of Distributed Ledger Technology (DLT).
These modern developments may function a catalyst for a possible price increase for the cryptocurrency, driven by enhanced network utility and increased adoption from latest users.
LINK Price Update
Amidst broader market conditions, Chainlink has been performing higher than expected, experiencing consistent price increases for the reason that starting of the 12 months. Over the past month, Chainlink has risen by 45.01%, underscoring the cryptocurrency’s growing demand and interest from investors.
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CoinMarketCap’s data has also shown that Chainlink has surged by 3.32% within the last 24 hours and seven.79% over the past week. This bullish performance will be said to be attributed to Chainlink’s ongoing development initiatives in its ecosystem alongside the recent approval of Spot Ethereum ETFs by the US Securities and Exchange Commission (SEC).
As of writing, the worth of Chainlink is trading at $18.53, reflecting a 24-hour increase of 14.86% in its day by day trading volume.
LINK price fails to breach $20 | Source: LINKUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com