The cryptocurrency market seems to be breaking out, with Bitcoin (BTC) hitting $50k for the first time since 2021. Other crypto assets seem to follow suit, with most top projects in the greens. Chainlink (LINK) is one project that has witnessed significant growth over the last few days. The asset is up 6.5% in the weekly charts, 34.6% in the 14-day charts, and 34.2% over the previous month. Moreover, LINK’s price is up by nearly 200% since February 2023.
Also Read: Chainlink Whales Scoop Up $50M LINK While Analyst Expects Rejection.
While Chainlink’s (LINK) latest rally could be due to BTC’s recent surge, the asset began its upward momentum in late 2023. LINK’s price skyrocketed in late October 2023 and doubled in just a few weeks. LINK witnessed another price spike in late January 2024. The January rally could be due to dormant whale wallets waking up and pumping large amounts of tokens into circulation. The influx of coins may have induced FOMO (Fear Of Missing Out) among investors, leading to more buys.
Will Chainlink (LINK) hit $25 next?
According to CoinCodex, LINK may surge to $24.48 on Feb. 24, 2024, an increase of about 21.49% from current levels. However, the platform anticipates LINK to fall to $21.67 by early March before taking off again.
Also Read: Chainlink (LINK) Price Prediction: Mid-February 2024
Changelly also does not anticipate Chainlink (LINK) to hit $25 this month. Like CoinCodex, Changelly anticipates LINK to hit $24.93 on Feb. 23, 2024, just shy of the $25 target. Changelly predicts LINK’s price to dwindle in the next few months but expects the asset to breach the $25 level in June.
Telegaon, on the other hand, anticipates a maximum price of $29.14 for LINK in 2024. However, the platform does not clarify when the asset would reach this level.
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