Chainlink Price Prediction: Bullish Run Amid New Integrations

What Is Chainlink (LINK)?

Chainlink is a decentralized open-source network built on Ethereum. It provides an oracle service that translates external data (price, events, etc.) to a language that smart contracts can understand (and vice versa). And LINK is the native token that is used to pay for the service.

The network was launched in June 2017 by co-founders Steve Ellis and Sergey Nazarov. Chainlink held its ICO the following September, raising the equivalent of $32 million. At the time, they sold 35% of the 1 billion unit supply. By the end of 2021, there will be only 46% of coins in circulation, which means the company is very good at regulating the supply.

Factors That Affect Chainlink’s Price: 4 General and 4 Specific

There are four main factors that shape market trends in all financial markets:

• The international effect – new global realities;
• The participant effect – speculation and expectation;
• The regulatory effect – policymakers’ decisions;
• The supply and demand effect.

We also want to highlight four other factors that make an impact on Chainlink’s price. This time, it’s not about the wider market. Rather, these are smaller but target-driving forces for LINK.

The Need for Smart Contract Capabilities

The global smart contracts market size is projected to reach $345.4 million by 2026. The report proves that this technology is an effective tool for gaining a competitive edge over their competitors. How does that affect the price of LINK? Chainlink actually expands the capabilities of smart contracts, so it’s at the forefront of this market.

Chainlink Ecosystem – Partnerships and Integrations

Strategic partnerships are vital to the success of any business. Fortunately for LINK investors, the project collaborates with more companies each year. Not only do partnerships spread awareness about cryptocurrencies, but they help Chainlink make their service better, thus, driving the coin’s price up.

Some of the recent press releases were:

• Ether Cards uses Chainlink VRF to bring new utility to NFTs
• PoolTogether uses Chainlink to fairly gamify personal savings
• Aavegotchi uses Chainlink to pioneer dynamic NFTs on Layer 2
• Polychain Monsters uses Chainlink to fairly distribute NFTs
• Ampleforth uses Chainlink to decentralize its rebasing mechanism

The Price of Ethereum

Chainlink has a strong correlation with Etehreum’s price. This is not surprising since the network was built on Ethereum. Currently, LINK has over 20 price oracles for Ethereum and several other USD and ETH pairs. So, if you’re looking for signs of LINK’s future direction, pay attention to Ethereum.

Market Sentiment

Update for 2023

Introduction: The cryptocurrency market is abuzz with Chainlink, a decentralized open-source network that has been making waves in the world of blockchain technology. Amidst the fierce competition from established projects like Ethereum and Cardano, Chainlink stands out as a force to be reckoned with. In this article, we will explore various Chainlink price predictions and gather insights into the project's potential for success in 2023 and beyond.

I. What Is Chainlink (LINK)?

• Chainlink is a decentralized open-source network built on Ethereum, offering an oracle service that bridges the gap between external data and smart contracts.
• The native token, LINK, powers the network and facilitates payments for its services.
• Founded by Steve Ellis and Sergey Nazarov in 2017, Chainlink successfully held its ICO in September 2017, raising $32 million.

II. Factors Affecting Chainlink’s Price:

• General Factors:
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• Specific Factors for LINK:
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III. Chainlink Price Performance:

• 2017-2020: LINK remained below $1 for most of this period, with occasional surges.
• 2021: Significant price fluctuations, with an all-time high (ATH) at $52.20 in May.
• Short-Term Predictions (2021-2022): Expected price increases with potential for LINK to reach around $44 by the end of 2021.

IV. Chainlink Price Predictions for 2024-2025:

• Long Forecast Predictions: Optimism for LINK's performance, potentially doubling or tripling in price.
• 2024: Predicted to start at around $56-$72 and possibly reaching over $100.
• 2025: Expected to start at $70 and have positive trends throughout the year, nearing $95 by December.

V. Chainlink Price Predictions for 2030:

• 2030: A potential 400% increase from the current value, reaching $126 per token.
• 2031: A minor detour before continuing the positive trajectory.

VI. Factors Influencing Chainlink's Success in 2030:

• Why LINK Might Take Off:
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• Why LINK Might Not Take Off:
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VII. Chainlink Price Predictions for 2050:

• A speculative look at LINK's position in 2050, considering the potential for smart contracts to revolutionize supply chains.

VIII. Analysts and Traders' Perspectives:

• Insights from Avivah Litan, the VP analyst in Gartner Research, and an Avalanche-based DEX Trader Joe regarding Chainlink's reliability and performance.
• A bullish prediction by crypto strategist Michaël van de Poppe, foreseeing LINK reaching $48 with a potential upside of over 77%.

IX. Trading and Investing in LINK:

• The inevitability of the shift to digital currencies and Chainlink's advantages.
• The volatility of Chainlink and its potential benefits for traders.
• The use of trading bots to navigate the rapid movements of Chainlink.

X. Conclusion:

• Chainlink's future is promising, with a series of factors, partnerships, and innovations driving its potential growth in 2023 and beyond. While the road ahead may have challenges, the cryptocurrency community is closely watching LINK as it continues to shape the blockchain landscape. Whether you're an investor or a trader, understanding the nuances of Chainlink's journey is essential for making informed decisions in the ever-evolving world of cryptocurrencies.
  
  
  
  Finally, there is some value in crypto sentiment analysis. When the word about Chainlink spreads in forums and chatrooms, it makes sense to search for price triggers online. But that’s a whole other challenge – to analyze huge numbers of posts and sift out the unreliable information.

Chainlink (LINK) Price Performance From 2017-2020

After the ICO, LINK only broke the $1 level twice – once in 2017 and once in 2018. The average price in 2017 was $0.5-$0.7. In January 2018, the coin made it to $1.37 but then stayed at the $0.2-$0.5 range for the rest of the year.

After trading at less than a dollar per token, LINK started going up in mid-2019. That was when the price began trading at between $1 and $4. In 2020, the average price fluctuated between $5-$15, and the highest price point that year was $19.

Chainlink Price Performance in 2021

Here is a recap of LINK’s price changes in 2021 so far:

• January 2021: The price of $11.87 was the start of a solid uptrend for several months.
• February 2021: The range was $22.87-$34.72, and Chainlink hinted about introducing V2.
• March 2021: $25.05 was the result of a correction.
• April 2021: Dozens of new integrations drove the price up to $42.75.
• May 2021: LINK reached its ATH at $52.20 and dropped to $20.01 within the same month.

• June 2021: LINK still hadn’t fully recovered from a sudden drop, but the price managed to reach $26.08 for a short time.
• July 2021: $13.78 was the lowest point this year.
• August 2021: This month marked the start of a new uptrend. The price made it to $27.70.
• September 2021: Chainlink announced 84 new integrations, including Cardano and Gemini ($34.78).

Short-Term Chainlink Price Prediction for 2021-2023

Let’s start with LINK’s future price chart by Wallet Investor. The expected trendline is undeniably positive. Although, it’s rather unlikely that LINK will start moving in a straight line after a bumpy ride in 2020 and the majority of 2021.

Digital Coin Price provides a more detailed outlook for the last months of 2021. Chainlink will possibly add another 50%-60% to its price and finish the year at around $44.

Using the same source for the Chainlink price prediction for 2023, we see a comforting but also uneventful picture. The average price in the first half of the year might be under $50, with April and May possibly performing the worst.

The second half of the year has very similar dynamics. $51 in August and September might be the highest point for the year, and other months might show a much lower range – down to $41-$43.

Chainlink Price Prediction for 2024-2025

We’ll be making a jump from 2023 to 2024. Long Forecast sees great potential in LINK’s performance all throughout 2024. The total percentage chance (left column) might be 100%-300%; i.e., the price might double and triple. The monthly percentage change (second column from the left) shows fluctuations, which could offer lucrative opportunities for short-term traders.

In January 2024, LINK’s price range might be around $56-$72 (up 154% from the current prices). Mid-year results might be at a similarly wide range with generally higher prices – $62-$82. By the end of the year, LINK might make a leap and reach an average price of $87 per coin. At some points, it could even go over $100.

For the Chainlink price prediction for 2025, we’ll be looking at a different source, Digital Coin Prince, but the optimism for this project is also present. Unfortunately, we can’t see whether LINK will go over $100, but based on the average monthly forecast, it will come very close at the end of 2025.

LINK is predicted to start 2025 at $70. The overall trend for the year is positive – over $80 in April and over $90 in June. But for brief periods, the price might decline back to $70 in May. The uptrend will probably continue in the second half of the year, reaching $95 in December 2025.

Why LINK Might Take Off in 2024-2025

Chainlink strives for the full virtuous cycle of economic security in oracle networks by 2025. They are depicted schematically in the figure below.

The growth in network security is thought to exemplify larger patterns of growth of the Chainlink network. If this plan to stimulate the smart contract demand works out, Chainlink will see direct benefits (a larger user base on its own network) and indirect benefits (a generally better attitude toward blockchain).

Why LINK Might Not Take Off in 2024-2025

Some experts argue that centralized systems perform better and are quicker. And many people don’t mind that software is controlled by a larger entity, as long as it’s convenient. Chainlink must find a niche and prove it performs better than existing solutions.

Chainlink Price Prediction for 2030

Looking at the possible trajectory for LINK from 2021 to 2030 (and even slightly beyond), we see the predicted uptrend continue. The price movement in 2025-2030 is incredibly positive.

By 2030, LINK might add another 400% of its current value and reach $126 per token. After a slight detour in 2031, it’s likely to get back on track.

Why LINK Might Take Off in 2030

The development team shared a vision for the evolution of Chainlink beyond its initial conception in the original whitepaper. They expect an increasingly expansive role for oracle networks.

The price will surge if the team succeeds in improving seven key areas by 2030:

1. Hybrid smart contracts (composing on-chain and off-chain computing resources)
2. Abstracting away complexity (familiarity despite complexity)
3. Scaling (adequate latencies and throughputs)
4. Confidentiality (new protections)
5. Order-fairness for transactions (attach prevention)
6. Trust-minimization (cryptoeconomic guarantees).
7. Incentive-based security (strong economic incentives for nodes to behave reliably)

Why LINK Might Not Take Off in 2030

Enterprises face a number of challenges in connecting their existing systems and processes to decentralized systems. If the issues of blockchain agility, blockchain-specific development resources, and confidentiality are not addressed, it will be hard for Chainlink to enter new spaces.

Chainlink Price Prediction for 2050

You might have heard about the possibility of hyperbitcoinization, in which Bitcoin eventually overtakes fiat currency. However, we rarely see any mentions of another cryptocurrency becoming the dominant form of global finance.

Chainlink’s position in 2050 is only a guess. It’s difficult for analysts to price anything accurately in such a big timeframe. Most cryptocurrency markets are hard to predict because they are based on speculation rather than fundamentals, but in the case of Chainlink, we can gauge its possible success through smart contracts.

Almost 70% of the world population is expected to live in megacities by 2050. And researchers speculate that smart contracts can provide complete vertical integration in supply chains. Smart contracts might solve the logistics issue for retailers, suppliers, and providers. If Chainlink manages to scale and adapt, there will be numerous use cases for the network.

By 2050, the entire supply of Chainlink will likely be in circulation. This limited supply, combined with the wider adoption of Chainlink, can drive up the value of LINK.

Best-Case Scenario

Chainlink will become the ultimate instrument for connectivity by 2050. It will be able to utilize non-deterministic data and push data onto other networks. This will empower Chainlink to trigger actions on external systems, like making a payment on another blockchain or traditional payment systems.

Worst-Case Scenario

Without a unified global regulation, crypto might not take off. If the world leaders don’t assemble to adopt a unified crypto policy, it might never reach the mass adoption that enthusiasts hope for.

Chainlink Forecast: Define Price Direction Correctly

To trade LINK, you should be equipped with efficient technical tools and proper steps that will help you avoid wrong actions on the highly volatile market.

Efficient Technical Tools for Chainlink Price Predictions

Here is the list of trading tools you should use to define the upcoming price direction:

• MACD
• Awesome Oscillator
• Moving Average
• Stochastic Oscillator
• Bollinger Bands
• Pivot Points
• Parabolic SAR
• Volume
• Envelopes
• Fibonacci Retracement

Don’t use all of them; combine 2-3 indicators that provide different signals.

Steps to Predict LINK Price Direction

1. Open a chart of LINK/USD. It’s worth choosing higher timeframes if you are not experienced enough to deal with increased volatility.
2. Find a current trend. Compare it to the previous and following timeframes.
3. Apply the indicators you like the most. If you are unsure, choose Moving Averages (MACD). It provides signals if you combine two lines with different periods.
4. Check patterns that are clearly visible on the chart.
5. Find support and resistance levels. If you are not sure what levels to set, use Pivot Points that will establish them automatically. Use support and resistance points for entry and exit orders.
6. Don’t forget about the Stop Loss level. It will limit possible losses if the price turns around due to changed market sentiment.

What Do Analysts and Traders Think About Chainlink?

Avivah Litan, a distinguished VP analyst in Gartner Research, said that enterprises should write applications and smart contracts that are blockchain-neutral. This requires the use of blockchain abstraction middleware protocols. “This type of architecture is already alive and well in DeFi, and it makes sense for all blockchain applications to adopt this approach. See the Chainlink white paper for an example of this architecture.”

Avalanche-based DEX Trader Joe has also been warming up to Chainlink. He mentioned that Chainlink was “the most reliable decentralized oracle network in the blockchain industry.” It says a lot that the network is already helping leading DeFi applications across various blockchains secure tens of billions of dollars.

His release also pointed out that Chainlink Price Feeds has a great track record in terms of data and robust infrastructure, “consistently updating accurately and securely during periods of extreme market volatility and network congestion.”

Crypto strategist and trader Michaël van de Poppe envisions a rally for Chainlink. The project is mirroring its 2020 price action – a mid-year correction followed by an all-time high above $50. In his video, Michaël said that LINK is going to “rise as high as $48, representing a potential upside of over 77%.”

Should You Trade or Invest in LINK?

Analysts say that the shift to digital forms of currencies is inevitable. Besides, Chainlink brings its own clear advantages in terms of transparency, access, speed, and resilience. Even though the price has been on the rise for a while, the project is in its infancy. This means if you invest now, you could be getting in on the ground floor before LINK takes off.

Investing in cryptocurrency isn’t for everyone. The flipside of the “newness” of Chainlink is the incredible volatility we’ve seen so far. But volatility is actually good for traders who are seeking opportunities to go long and short.

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