Michaël van de Poppe, a respected cryptocurrency analyst, has conveyed a bullish sentiment for Chainlink (LINK), suggesting that the decentralized oracle network is poised for a significant price increase. His analysis indicates that LINK could potentially rise by about 90% from its current price level, which would see it reach values between $25 to $30 in the upcoming months.
Chainlink’s Price Trajectory
The analyst highlighted that LINK has been testing a crucial resistance level of $16.54 multiple times since November. He believes that LINK is likely to convert this resistance into support soon, which could catalyze the anticipated price surge. At the time of his analysis, LINK was trading at approximately $16.74.
van de Poppe also pointed out the potential for Bitcoin (BTC) to reach higher price levels before the April 2024 halving event, which will reduce miner rewards by half. He predicts that altcoins, including LINK, will outperform Bitcoin during this period.
In a longer-term forecast, van de Poppe suggests that Bitcoin could achieve a new all-time high in 2025, following its post-halving breakout. He expects Bitcoin to possibly reach $68,000 in the first half of 2025, despite a potential dip to $39,129 before the halving. At the time of his forecast, Bitcoin was trading at $42,400, having decreased by 1.85% over the last 24 hours.
These insights from Michaël van de Poppe offer a glimpse into the potential future price movements of LINK and Bitcoin, providing optimism for investors in the cryptocurrency market.