As the world of cryptocurrencies continues to expand, new and interesting projects are emerging in an attempt to cover the gap between the traditional worlds of finance with that of cryptocurrencies.
One such project is Chainlink (LINK) which is attempting to bring interoperability to the blockchain industry
In this Chainlink price prediction article, we will get to know the future price prediction of Chainlink and its overall possibilities. Let us look in detail at the LINK price now.
What Is Chainlink?
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. Chainlink was created and formed by an organization called Smartcontract which was founded in September 2014 by its CEO Sergey Nazarov and CTO Steve Ellis.
Chainlink node operators extract data from off-chain systems and convert them into blockchain compatible formats. They are awarded 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.
Chainlink (LINK) Technical Analysis
LINK was founded 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.
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.
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.
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.
Chainlink Price Prediction 2021
Chainlink continued the trading at $11.45 on the first day of January. The price started to rise further. Surprisingly, Chainlink recorded a new All-Time-High by hitting $25.65. The price might rise further if LINK performs well in the upcoming days.
Chainlink has drawn a lot of attention and attracted new fans to their project. Their activities and appreciation among other industry players have increased trust in the company. By the end of 2021, the coin may reach above $50.
LINK Price Prediction 2022
LINK might enter 2022 with a trading price of $60. The price might significantly increase every month as the investors focus on Chainlink. By the end of 2022, LINK might hit $100.
Chainlink 5 Years Price Prediction
With more partnerships, a large treasury of reserve funds, and an in-demand service, it seems as if Chainlink (LINK) is well-poised to handle any challenges that may crop up in time. Chainlink will see exponential development by the end of 2025 and will be tethering about $500 a coin.
Chainlink [LINK] Market Prediction
#1 Wallet Investor (WI)
Wallet Investor is highly bullish about the future price of Chainlink. They think the LINK price can go up to $11 in one year. Based on the current market situation, they project the rate jumping to $24 in the next five years.
It rates Chainlink as a solid investment with expectations of soaring prices for years to come. Digitalcoin expects that Chainlink (LINK) could be trading as high as 10.57 USD by the end of the year the price would grow up to $19 in 2021
#3 Trading Beast
They expect LINK to fall to $6.64 by August and stay at the same price level till May 2021. Later, they predict that then it will continue its growth. By the end of 2023, the coin may reach about $8.
As per Crypto Rating’s prediction, Chainlink looks to be an excellent short term investment as the price is expected to climb over 96 percent throughout the next six months, bringing LINK to 12.16 USD. In two years, LINK may be worth 24.27 USD, an increase of almost 300 percent.
Coinpedia Chainlink Price Prediction
During the start of 2021, LINK was trading at $11.45. Later the price dramatically started to pour and reached $26.65 to record a new All-Time-High. The future involvement of major institutional investors might result in a hike in LINK’s price. By the end of 2021, Chainlink is anticipated to trade above $50 and might reach $100 in the future.