We will focus on Chainlink price prediction to answer the question “Is LINK a Good Investment?” To provide a correct answer to the question, we will delve into what is Chainlink (LINK) to better understand its flourishing potential in the future. Next, we will review the Chainlink price movement in the past. In essence, one way to know how LINK may behave in the coming years is to consider the token’s previous price performance. Taking such a step can reveal possible barriers and guide us on how LINK may respond in the future.
Then, we will take a closer look at the most recent market analyses and opinions provided by leading and recognized experts and analysts. And Finally, based on historical price analysis and Chainlink price prediction, we will help you in deciding whether you should invest in LINK or not? If you are interested in learning more about Chainlink (LINK) investment opportunities, keep reading this post.
Chainlink (LINK) at a Glance
As the world of cryptocurrency continues to grow, new and exciting projects – like Chainlink – are emerging to bring more interoperability to Blockchain technology. Through interoperability, blockchain networks can exchange information, share data, value, and solutions without the need for intermediaries. Several blockchain projects like Bitcoin, Ethereum, and Ripple have existed without interacting with each other.
However, Chainlink aims to solve this blockchain problem by connecting real-world data with blockchain technology in the world of decentralized finance. As such, Chainlink Oracles can share crucial information in a decentralized but tamper-proof way for complex smart contracts on blockchains. This capability has made Chainlink the bridge between the world of blockchain systems and the global marketplace. Thus, Chainlink has a strong standing in the DeFi sector which will help LINK go up on the competitive ladder of the cryptocurrency market.
Three years ago, Chainlink was not even among the top 100 cryptocurrencies by market capitalization. However, now, Chainlink is ranked as the 13th largest cryptocurrency by market cap with over $10 billion. Chainlink has established itself as a pivotal component in the cryptocurrency space. With more and more DeFi projects underway, the demand for Chainlink services will continue growing, driving the price of LINK even higher. In a nutshell, the Chainlink blockchain seems to be a great project, with a dedicated development team and a great deal of potential to flourish in the future.
Price History of Chainlink (LINK)
Source: Trading Beasts (Chainlink Price Performance)
Chainlink was launched on 30th September 2017 at $0.45 and ended the year at $0.60.
LINK started 2018 with a strong bullish rally, while most digital assets were on their way up. However, what followed after that was a sharp crash in the altcoins market. On 1st January 2018, LINK had an opening price of $0.60 and by 2nd February dropped to $0.49. The digital asset dropped to $0.18 at the end of June. At the end of September and December, LINK had trading prices of $0.32 and $0.29, respectively.
Chainlink experienced a significant year in 2019. Its token (LINK) performed very well in the market. Chainlink’s pioneering DApps and LINK’s listing on few crypto exchanges, such as Bitbox, were crucial factors in this success. Also, Google announced that it was integrating its BigQuery data analytics platform with Chainlink. This news pushed the LINK price from $0.3 at the beginning of the year to a record $1.13 in May 2019. LINK broke its new ATH once again that year, on June 24, 2019, and LINK’s price reached a new record of $4.540. Chainlink release on the Ethereum main network was a major catalyst for LINK’s bullish trend in the market.
Chainlink (LINK) Price in 2020
In 2020 – tagged as the Coronavirus year- LINK began trading at around $1.70 and hiked towards $4.570 in February. LINK remained stable until mid-July when the LINK rallied towards a new ATH at $8.40. The rally continued, and Chainlink’s digital asset price almost hit $20. However, the token faced rejection and retreated to under $12.
LINK Price Performance in 2021
LINK started in 2021 at $11.24. This year on February 14, the token surged to record a new all-time high at $36.00. The token’s price met strong resistance at the $36 mark, which it could not break through and suffered rejection from that level. The rejection caused the price to fall to the $21.50 mark. Then the price rallied to the $24 support level. After a slight downward trend, the token surged again and traded at $52.43. This growth was an increase of 440% which was excellent news for LINK investors. However, it wasn’t able to continue this price growth, and shortly afterward, it fell nearly half of this price, and the token traded at $11.45 on January 1.
Afterward, in May, the token reached its all-time high of $52.88. But soon after, it started to fall. LINK’s fall coincided with BTC’s price fall. LINK has continued to fall since then. LINK had dropped from $20 to $13.70 between July 7 and July 20.
Since July 21, the Chainlink price jumped from $13.70 to $23.62, as the buyers seem to have taken complete control of the market. Right now, the token is trading at $23, representing a %115 increase from the beginning of the year. By the way, so far LINK has returned 252.81% Year-To-Date (YTD) gain for investors.
Nevertheless, its current price is indeed much lower than its all-time high, and if the similar bearish drop continues, we will see the token continue to make lower lows, and it may trade at $13. This worst-case is possible when BTC drops below $30K during this bearish drop. However, this bearish scenario does not look robust enough, and the overall sentiment for Chainlink price remains positive. According to technical analysis by Coinpedia, LINK currently appears to have stuck within certain levels and very soon could break the barriers to go high.
Chainlink Price Prediction in 2021 and Beyond
Providing cryptocurrency price predictions can be challenging, given the volatility of the market. Historically, the cryptocurrency market is known for its volatility. In this regard, it is essential to remember that these price predictions are just speculations, and it is impossible to predict the market precisely and with total certainty.
According to the Cryptopolitan website, the LINK price prediction of $100 and $200 is quite realistic during a bull market.
According to Long Forecast, LINK may be worth $107.46 by the end of 2021. The platform further forecast Chainlink to exchange hands for $157.86 by the close of 2022. Despite the potential bearish outlook for 2023, Long Forecast expects LINK to remain bullish. Long Forecast estimate LINK to have a price of $217.33 and $257.36 by the end of 2023 and 2024, respectively.
Prevision Bitcoin also expects LINK to rise to about $138 by December 2021, $200 by December 2022, $350 in 2023, and $600 by the very end of 2025.
Wallet Investor Chainlink Price Prediction
According to Wallet Investor, LINK is an excellent long-term investment. Chainlink prices can rise from now on, and a $38.772 target is expected by the mid of 2022. The Chainlink Oracle token has the possibility of rallying towards $130.691 in the next five years. Because Chainlink’s interoperability project has attracted a great deal of attention recently.
Source: Wallet Investor: Chainlink Price Prediction for the Next Days and Weeks
Source: Wallet Investor (Chainlink Price Prediction)
Digital Coin Chainlink Forecast
According to Digital Coin, Chainlink has a high chance of growth once the bearish trend is over. The platform predicts that LINK will reach a minimum of approximately $27.05 in 2022 and $34.26 in 2023. based on the forecast, the token will trade at a minimum of $69.68 within the next seven years due to its popularity and adoption rate. Furthermore, in the case of another bull run, the price will go up and reach $100. You can have it by cloud mining and some other ways.
Source: Digital Coin (Chainlink Price Prediction from 2021-2028)
Moreover, based on DigitalCoin Forecast, the lowest price of LINK will be up to $97.22, and its highest price will be up to $118.81. Therefore, the price will increase according to their predicted data. Thus, LINK crypto is a profitable investment based on their forecasting.
Trading Beasts Chainlink Price Prediction
Trading Beasts have made a monthly Chainlink price forecast. They expect LINK to achieve a market price of about $16.599 by the end of 2021. Accordingly, their Chainlink price prediction indicates that LINK will trade at an average of $16.819 in 2022. In December 2024, Trading Beast expects Chainlink to close the year at a maximum price of $26.003. According to their forecasts, the Chainlink price is going to decrease in 2021. Now, the Chainlink price is $24.260. But by the end of 2021, the average Chainlink price is expected to be $22.930.
Moreover, they predict that LINK is going to decrease. Accordingly, by the end of 2022, the average Chainlink price is expected to be $21.693. They also predict that the coin will rise very slowly, averaging $23.489 by December 2023. They also believe that the coin will only average $23.656 by the end of 2024.
As their prediction shows, Trading Beast is surprisingly not so enthusiastic about Chainlink. However, in a market known for volatility, TradingBeasts updates its forecasts daily. Therefore, it is crucial to stay up to date about the LINK price and visit the website regularly.
Source: Trading Beasts (Chainlink Price Prediction in 2021)
Coin Price Forecast
According to Coin Price Forecast, LINK will be about $28 by the end of 2021. The token will reach $50 by the middle of 2023. Then Chainlink will rise to $75 in 2027 and $100 in 2029. The platform confirms long-term growth for the token.
Source: Coin Price (Long-Term Chainlink Price Prediction)
Crypto-rating Chainlink Price Prediction
The Chainlink price prediction by the Crypto-rating website asserts that LINK is an integral component of blockchain technology. It goes on to state that the general future of the token is hugely optimistic. Crypto-rating adds that its prices will continue to grow exponentially into the foreseeable future. By 2024, Crypto-rating analysis indicates that LINK token prices will reach $450, and by December 2025, this value will shoot to $863. It predicts that the token will surpass the $1000 price level sometime in 2027 and trade between $1200 and $1300 in 2030.
Chainlink Price Prediction: What Do Analysts Say About Chainlink?
Several crypto analysts and experts have made positive predictions mostly because Chainlink has a promising project. While some analysts are predicting that Chainlink will remain between $37 and $48 for the rest of 2021, there are a few who favor a speedier recovery hitting new highs of $78.
Analyst Skerdian Meta of FX Leaders says that LINK can trade in the price range of $50 to $60 in the first half of the year. In his opinion, such a price rise will result from crypto market sentiment, recovery from COVID-19, safe-haven status, and the stimulus package. According to Skerdian Meta, more restrictive monetary policies, global economic recovery, and Chainlink’s safe-haven position can boost its price to $200 to $300 in the next three years in 2024.
Analyst Sahana Vibhute foresees LINK trading in the price range of $65 to $75 by the end of 2021 due to investor and cloud miner center interest in the Chainlink project. The analyst at CoinPedia predicts the crypto can begin 2022 with $134 and then decline to $90 to $110 by the end of 2022. This price can be attainable if LINK improves its blockchain and overcomes its competitors. According to Sahana Vibhute of CoinPedia, “Chainlink could see exponential development by the end of 2026 and will be trading at about $150 to $170 a coin.”
Chainlink Price Prediction: Conclusion
Most Chainlink price predictions imply that there will be a positive trend in the future and the LINK might be good for investing and making money. Furthermore, its historical price data, fundamental aspects, and technical analysis point out higher-price possibilities for LINK in the future. To put it in other words, remember Chainlink is still in its early stages. As the industry progresses and the technology evolves, the Chainlink project will possibly see exponential growth.
Since this virtual currency has a positive outlook we recommend it as a good part of your investment portfolio. Therefore, if you are looking for virtual currencies with good returns, LINK can be a profitable investment option. Nevertheless, invest an amount of money you can afford to lose.