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Are the Chainlink Bulls Intending to Create New Highs? | LINK Price

The LINK price smashed a new ATH in the early trading hours at $26.57 and appears to be poised to test the upper resistance levels

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Chainlink <a class=price analysis” data-lazy-src=”//image.coinpedia.org/wp-content/uploads/2020/12/09122108/Chainlink-price-analysis.webp”> Chainlink Price may hit $200 very soon!

The chainlink price fascinated the attention of most of the traders in the crypto space in the recent past by attaining a new ATH every other day. However, the price remained clam and trended in a narrow region for a couple of days before a final breakout which rallied the price to yet another highs.

The LINK price smashed a new ATH in the early trading hours at $26.57 and appears to be poised to test the upper resistance levels. In the short term, the price is expected to hit $30 as predicted by an analysts Lenny, but it may rally still more in the coming days.

As per popular analysts, Kevin Svenson, Chainlink may hit the levels in between $200 to $500 in the coming 6 months.

Don’t sleep on #Chainlink🔗
The breakout is coming.$LINK is still the top gainer % over the past 1 year. $LINK is ahead of the game. Its waiting for the rest of the market to catch up to it. Then it will explode in value.

6 Month Price Target for $LINK
in-between $200-500

— Kevin Svenson (@KevinSvenson_) February 5, 2021 LINK Price Broke a Big Ascending Triangle LINK price

LINK price trended below $20 for a considerable amount of time until a major push rallied the price to hit the previous ATH in between $23-$24. Further, a steep decline close to $17 placed the price in an ascending triangle and hence a major breakout is imminent.

The LINK price has broken the upper resistance levels at $26.23 and heading strongly to smash the current ATH at $26.57 soon. At the time of writing, the chainlink price is $26.39 with a massive jump of 7.44% in the last 24 hours.

Nevertheless, the LINK price rally may hit even more highs very soon, probably $50 as predicted by a popular analyst Micheal van de Poppe. Chainlink price rally has just picked up the market grip and expected to hit new highs, every new day as it does during the bull run

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Source: https://coinpedia.org/news/chainlink-link-price-new-highs/

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Chainlink Price Prediction, A whoop $100 for LINK?

Discover chainlink price prediction for 2021 and beyond .Check how the price of LINK Price is closely correlated to node operators.

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As blockchains evolved, smart contracts became an inseparable aspect of the same. Transactions aided with these contracts are prudent, safe and secure. But is it ever possible to pause a smart contract on a blockchain? Moreover, that is not probable! The agenda is that any transaction or data made via such contracts on the blocks are irreversible.

However, a block chain running on smart agreements needs every data to be in an on-chain format. On the flip side, any data outside a blockchain is considered as off-chain and cannot be added to a block without an intermediate. Therefore, when the need for an intermediate was raised, the Chainlink network landed on its feet! But, what problems did the network crack?

Oracles formed a bridge between off and on-chain data. In simple words, these are software capable of transcribing real time data onto smart contracts on a blockchain. So, if Oracles aided the data conversion, why did Chainlink undertake it? What exactly does this network do?

Though oracles were able to convert off-chain data onto smart agreements, a setback arose. That is, these software were not decentralized and staked the security and reliability of the data passed into. To retort this flaw in the system, Chainlink entered as a decentralized node network.

LINK, the native token of the network and helps in payments for services happening within the network. Powering the network, crypto money has made a significant pace with a current market rank of 14. Currently stepping into a price change of -6.46%, what will be the fate of this coin? For the latest updates and Chainlink price prediction, browse past!

Though the world of cryptocurrencies continues to expand, and many have started investing in most currencies, each of them has got their pros and cons on either end. That’s why new projects and currencies are seen coming into the market promising to offer better features. A new project eventually tries to bypass the cons of the previous crypto networks.

One such project is Chainlink (LINK) which is attempting to bring interoperability to the blockchain industry. That is unlike conventional blockchains that exist, Chainlink offers input guarantee for a range of external data. It aims to bridge the gap between blockchain technology based smart contracts and the real world applications.

OverviewCryptocurrencyChainlinkTokenLINKPrice$22.05Market capitalization$9,584,229,012.68All Time High$52.88 May 10, 2021All Time Low$0.1263 Sep 23, 2017 Circulating supply433,009,554 LINKTotal Supply1,000,000,000 LINKAverage ROI14043.67%What is Chainlink (LINK)?

Chainlink is unique compared to other blockchain projects. The business model is solely focused on the creation of smart contracts for the outside world. Chainlink hopes to decentralize the Internet to bridge the gap between blockchains and the applications that exist in the real world.

The Chainlink system has a decentralized network of Oracles, so that smart contracts can safely interact with off-chain platforms. Founded in September 2014 by its CEO Sergey Nazarov and CTO Steve Ellis.

Chainlink node operators extract data from off-chain systems and convert it into blockchain compatible formats. They are awarded with LINK cryptocurrency – an ERC-20 token based on Ethereum. According to the developers, the price of LINK is closely correlated to the number of node operators.

Fundamental Analysis

Since both Oracle and Chainlink work simultaneously for data conversion, the working might sound arduous. But in reality it involves just 3 steps! Beginning the process, a smart contract requests data when required. The LINK protocol receives the request and generates a Chainlink Service level Agreement.

Meanwhile, the agreement will further generate 3 other contracts. One for reputation, which will check the Oracle and verify it. Secondly, the next contract acts as a bridge between the request contract and the nodes that take the requests.

The translation of off-chain to on-chain data and vice versa, is taken care of by the Chainlink Core. The request is first converted to an off-chain form so that the real time information can read the request and easily fetch the required data via an API. After the accurate information is at the nodes, they are further transcribed to on-chain language and delivered to the nodes! Thus, the Chainlink protocol increases transparency and improves reliability and accuracy of the data that enters the block chain!

The LINK token powers the entire process and acts as the network’s fueling agent. That is, Chainlink nodes are paid in LINK tokens for lending their services in fetching the real time data into the blockchain. But before that, each node must stake LINK tokens in the network promising to offer accurate services.

The network has no Road map yet is collaborating with diverse projects post announcements. Some significant partners include Wanchain, Signal Capital, Request network, Witnet and many more. The protocol also partnered with dClimate, an Ethereum based data project. And just yesterday, Mark Cuban, who believes Ethereum has greater long term value, announced an investment in dClimate, which works with Chainlink for data operations. Buzzing on Twitter, the network’s biggest event, Smartcon is just round the corner!

Chainlink Price Prediction 2021

Chainlink continued to trade at $11.45 during January. Surprisingly, the price spiked to $51.17 to hit a new high on May 2nd. When the market collapsed on May 19, the LINK price wiped down from $36.8 to $21. However, post this point, the price has been gradually surging.

It has drawn a lot of attention and attracted new users to their project. The fundamentals look healthy for many analysts. The altcoin has been proactive in launching its products and developments well within time, growing consistently. Partnering with prominent companies like Google Cloud, the LINK price may soar significantly to blow at $37.008 by the year end.

On the other hand, considering all market sentiments and news playing hide and seek, major setbacks can arise. If any other unforeseen circumstances or competitor coins give a tough road ahead, the altcoin price might plummet to support levels at $15.988.

However, the regular buying and selling pressures may put LINK at an average range of $25.174 to $30.063.

Also read: Solana Price Prediction, Price boom to hit with a $100?

Chainlink Price Prediction 2022

If the altcoin closes this year hitting the highs, then 2022 might start bullish at $37.114. On the other hand, if a bearish trap engulfs, then 2022 trade might resume at a similar trend at $16.029.

If the network boosts the reward levels for its nodes, then it might grab new nodes staking their tokens, leading a pump in the price. In such a case, by the end of 2022, the LINK price might smash a new high of $64.883. However, being a highly transparent protocol, the average price of its token can hit between $31.44 and $40.005 on an average.

On the flipside, a possible data manipulation is being debated by many critics. If the network does not work to improvise this, then the price can bounce down to $24.869.

5 Years Chainlink Price Prediction

In 5 years, with more partnerships, a large treasury of reserve funds, and an in-demand service, it seems that the platform is well-poised to handle any challenges that may crop up in time. With new updates in connections to APIs, the utility token can be on cards with a maximum of $121.07 by the end of next five years.

On the other hand, if the market crashes due to controversies on conventional cryptos and blockchain, following other currencies, LINK may also dip to $99.731. If smart contracts can seamlessly process over the years, then the altcoin might move at an average of $112.99.

Also read: Cardano Price Prediction, Evolutions to make ADA mark at $5?

What Does the Market Say?

1) TradingBeasts

According to trading beasts, the LINK price may trade around $24.081 by the end of 2021 and by the end of 2024, the price may reach $33.223.

2) DigitalCoin

It rates Chainlink as a solid investment with expectations of soaring prices for years to come. Digitalcoin expects that Chainlink (LINK) could be trading at $32.48 at the end of 2021.

3) WalletInvestor

Wallet Investor’s algorithm-based forecast is highly bullish about the future price of Chainlink. They think the LINK price can go up to $56.834 in one year. Based on the current market situation, they project the rate jumping to $226.161 by the end of 2026.

4) Longforecasts

As per Longforecasts, Link price may trade in between $25.39 to $31.51 by the end of 2021 and by mid 2025, the price may rally and cross $51.00.

EXPERT’S CORNER | What experts say about Chainlink?

My price predictions for this Bull Market are below: 🚀

Doesn’t matter how low this dip drops, I strongly believe we hit new highs this year. What are your predictions for this bull market?$BTC $100K$ETH $12K$XRP $7$ADA $5$CAKE $100$LINK $500 $VET $2$LTC $1000$DOGE $1

— WSB Crypto Mod 🚀🚀🚀 (@traderrocko) June 4, 2021Know Our Chainlink (LINK) Price Predictions

Chainlink has the inherent capability to expand smart contracts, allowing data accessibility for events, transactions, and going in the same trend. Optimism seems to be catching up with the heat on a long-term price forecast for the platform. According to Coinpedia’s formulated prediction, if the network updates in cryptography and starts new partnerships, the LINK price might surge up to $37.00 as the year ends.

On the flip side, many critics have begun questioning the purpose of LINK tokens in the project. If it persists, and other celebrities indicate a support statement, the price might get afflicted and plunge to $16.03.

Year Potential High Potential Low 2021$37.008 $15.9882022$64.883.$24.8692025$121.07$99.731How Did LINK Perform Previously?2017

LINK was funded with an ICO and managed to raise USD 32 million in September 2017. During its private token sale campaign LINK cost USD 0.09 per token and USD 0.11 during its public sale.

2018

Then in the year 2018, the coin had a nice start doubling from $0.15 to $0.43 per coin. It had several price hikes, which increased the price of the currency to $1.

2019

In June 2019, news broke on Twitter about a potential cooperation with Chainlink and Google Cloud. As a result, the price of LINK jumped from $1.19 to $1.93. Later, the coin grew further to $2.24 when it was listed on Coinbase.

By the time LINK appeared on the exchange, it had reached $4.45. By the end of August, the price of ChainLink had again decreased to $1.61.

2020

ChainLink saw a significant price movement in January 2020 and ended in February. During this period, the coin managed to grow from $1.74 to $4.60 in the short time frame.

In March, it crucially fell back to its previous price point of $1.74. In April, it managed to recover, climbing back to $3.

Then on July 7, 2020, the LINK price underwent an impressive surge as China’s national blockchain network, the Blockchain Service Network (BSN) was activated with 135 nodes integrated with Chainlink price oracles.

The news saw the LINK price surge from around $4.87 USD to an all-time high of $5.60 USD, with gains of 15 percent on the day

Chainlink continued an ascending trendline into mid-August, gaining bullish momentum. Into late September 2020, it saw sudden bearish activity before beginning its climb once again into October.

With the continuation of the bearish trend LINK’s price was trading at $11.17 and further plunged to $10.57. Later, the price started to grow steadily to hit $16.08 at the end of November. At the end of 2020, Chainlink was trading at $11.14.

FAQ

Is Chainlink (LINK) a good investment?

Chainlink might be a good investment if you plan to invest for a long time.

Who created Chainlink?

Chainlink was created by Sergey Nazarov.

Will Chainlink hit $1000 USD?

For now, though, considering the current Chainlink price of $22.05, it’s unfeasible to expect Chainlink to cross $1,000 USD any time soon.

What are Chainlink Oracles?

These are bridges which allow several blockchains to interact with off-chain resources such as market data.

Disclaimer: This piece of Article is only for informational purposes. It is not trading or financial advice.

Though the world of cryptocurrencies continues to expand, and many have started investing in most currencies, each of them has got their pros and cons on either end. That’s why new projects and currencies are seen coming into the market promising to offer better features. A new project eventually tries to bypass the cons of the previous crypto networks.

Source: https://coinpedia.org/price-prediction/chainlink-price-prediction/

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The Fate of Cardano Price and Altcoins Amidst the Market Correction!

Cardano is looking strong relative to other crypto assets amid the market correction, according to a new video, with its price movement

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The past several days didn’t go all that well for the alternative coins, and many of them failed to recover the recent losses. However, the situation has changed to a large extent since early trading hours.

Many altcoins gained over 10%, including AAVE, LINK, VET, CAKE, SHIB, SUSHI, and more. Out of these, AAVE rallied almost 25% and it broke the USD 380 level.

Cardano Price

Michaal van de Poppe, a crypto trader and analyst, discusses his predictions for Cardano (ADA) and six other altcoins.

Cardano is looking strong relative to other crypto assets amid the market correction, according to a new video, with its price movement continually making higher lows. According to him, ADA’s next aim is $3.35, followed by a potential rocket to $5.00.

He says that if we break over $1.80, we may apply the Fibonacci extension to calculate the next target zones of $3.35 and $5.00. There we can start targeting these two target zones here if we get this break to the upside, if Bitcoin finds its bottom formation here. There is upside to be expected, and not everything in the markets is bad.

SXP Price

Van de Poppe is also interested in six cryptos, the first of which is SXP, the native coin of the Swipe crypto wallet. When SXP price breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC), the trader believes a positive breakout will occur.

This one is consolidating between the MAs at the moment, and if it breaks back above the 100-Day MA, a bullish trigger can be produced.

Request 01 – #Swipe

This one is consolidating between the MA’s here, through which a bullish trigger can be formed if it breaks back above the 100-Day MA.

New impulse wave trigger if accumulation resistance breaks. pic.twitter.com/YpRRjimYIW

— Michaël van de Poppe (@CryptoMichNL) May 30, 2021

If accumulation resistance breaches, a new impulse wave will be triggered according to him.

AVAX Price

The smart contract platform Avalanche against Bitcoin (AVAX/BTC) is next on Van de Poppe’s radar, which he says “was crushed” in comparison to other altcoins during the correction. He believes AVAX/BTC can restart its bullish momentum if it can break over the 0.00061 region, which is around a 22 percent rise from its current value of 0.00049.

Request 04 – #Cosmos / $ATOM

This one is consolidating in a range here, through which it’s also acting between the crucial MA’s.

If a break above the 200-Day MA happens, I’m assuming continuation is likely.

Green zones are critical to hold. pic.twitter.com/UwrCqqhvwX

— Michaël van de Poppe (@CryptoMichNL) May 30, 2021

Next up is Cosmos (ATOM), an interoperable blockchain system that Van de Poppe believes will continue to rise against Bitcoin if it breaks the 200-day moving average, which is now at 0.0004.

Request 06 – #Chainlink / $LINK

Dropped below the 100-Day & 200-Day MA.

Bounced back immediately, now back above.

Holding those and I’m expecting bullish continuation to occur on this one.

Doesn’t look bad. pic.twitter.com/b7teMv9EQg

— Michaël van de Poppe (@CryptoMichNL) May 31, 2021

This one is solidifying in a range here, and it’s also functioning between the important MAs. If the price breaks above the 200-Day MA, I expect the trend to continue. Green zones must be maintained according to him.

The closely-followed trader also claims that ONE, the native token on Harmony’s decentralised application (DApps) platform, has a chance to soar to new highs if ONE/BTC can hold the crucial level of 200 satoshis (0.000002) for the time being.

LINK Price

Chainlink, a decentralised oracle network, is another crypto Van de Poppe is keeping an eye on in its Bitcoin pair (LINK/BTC). He believes it’s a positive indicator that the LINK/BTC has climbed back above its key moving averages, and that if they hold, a 42 percent increase from its current price of 0.00083 to 0.00118 is possible.

The last coin on Van de Poppe’s radar is RSR, the native token of Reserve Rights, a stablecoin platform. RSR/BTC could be seeking a 70% rise from 0.00000088 to 0.0000015 to test the next key resistance region, according to the analyst.

He says that if we break over $1.80, we may apply the Fibonacci extension to calculate the next target zones of $3.35 and $5.00. There we can start targeting these two target zones here if we get this break to the upside, if Bitcoin finds its bottom formation here. There is upside to be expected, and not everything in the markets is bad.

Source: https://coinpedia.org/altcoin/fate-of-cardano-price/

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Solar Plus Battery Bitcoin Mining Model Bought Elon Musk & Many Into Debate

Big personalities like elon musk jumped into the discussion that may provide better solutions than Bitcoin mining

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In a recent twitter spat many popular crypto figures came under one roof which led to a series of talks. It all started when Tesla CEO, Elon musk, announced withdrawal of BTC payment mode for Tesla car purchase. He raised concerns over BTC mining being not environmentally friendly. However, many criticized him as bitcoin price was severely impacted.

Since then, Elon Musk and energy consumption by various other blockchain became hot topics of discussion. ARK Disruptive Innovation Investment that offers long term investment solutions, demonstrated economical scalable solutions for bitcoin mining using solar and battery power. And showcased how the system will perform during the bull and bear markets.

Elon Musk got into a debate discussing the need for a lightning network as the solar and battery powered bitcoin mining can be developed over time.

Achieving truly decentralized finance – power to the people – is a noble & important goal.

Layer count depends on projected bandwidth & compute, both rising rapidly, which means single layer network can carry all human transactions in future imo.

For now, Lightning is needed.

— Elon Musk (@elonmusk) May 21, 2021

As the need for better scalable solutions than Bitcoin became the core of the discussion, many prominent faces in crypto space jumped in. One of the popular analysts, Lark Davis, believes Ethereum upgrades could be more feasible.

Just wait until you find out about Ethereum, your mind will be blown!

— Lark Davis (@TheCryptoLark) May 21, 2021

On the other hand, another analyst, Peter McObnoxious, asked Elon to consider the BSV network. Yet another analyst, Udi Werthemier suggested if the SegWit can be bought on the DOGE platform, and try out with lightning.

So listen

How about we get SegWit into doge (a bitcoin upgrade from 2017) and then we can try it out with lightning? See how this works? Maybe you guys will like it

— Udi Wertheimer (@udiWertheimer) May 21, 2021

Overall, the energy discussion which was began with the suspension of BTC payment led to the birth of yet a new topic. Interestingly, Elon Musk took nearly 10 years to analyse Bitcoin mining is not environment-friendly. However, as the new inventions enter the space, mining may also be more greener and cost-effective.

For now, Lightning is needed.

Source: https://coinpedia.org/mining/bitcoin-mining-model-bought-many-into-debate/

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