LINK bullish projection into august.
A repeat of last bullish cycle will break the upper current multi-year trend line as we so often see happening with triangles like these, see it correct down to test it, before shooting back up to LINKs cycle top in the 3 figures.
Interestingly this would put LINK at around a 100B market cap given current circulating supply. Easily doable should ETH run up into the 4000-5000 range.
After all is said and done I do expect LINK to come back down to the lower yellow trend line into the upper double digit area in the next full blown bear market.
Even if we halve this down (I like to be conservative) to 50B market cap it will give link a price of around 125 USD. Not a stretch as far as I'm concerned.
This chart is in part also based on the LINKBTC and LINKETH charts which are both very low right now. Seeing the downtrend on these charts reverse in the coming months is an easy assumption to make. You would only need to grant these two charts a corrective move to the upside really. LINK doesn't really have to put in stellar gains against BTC and ETH in order for the tripple digit price target to hit e.g. put bitcoin at modest 80k USD and have LINK retrace back to around the 0.0016 and you've already got your 125 USD LINK. The same goes for the LINKETH chart but even more extremely.
Given the release of the Chainlink 2.0 whitepaper and their plans to help DeFi go from 50B to 500B market cap in the next year, it would make sense to see link grow with a modest 5x at least, most DeFi project rely on LINK in some form and especially when you realize staking will have to release at some point as well. This will in all likelihood drastically dry up the available LINK supply. Which has, by the way, already been constantly shrinking on exchanges these last few months.
Are we gonna see a 1000 EOY meme come to reality THIS year? I doubt it to be honest. Triple digits however seem to be written in the stars for this bad boy. There are honestly very few (log) charts that inspire as much confidence as LINKs when zoomed out to larger time frames. It might not bring you a 100x this cycle, but if you're looking to be able to comfortably sit by the pool this summer and not worry about your crypto investment too much LINK is as good as it gets.
Interestingly this would put LINK at around a 100B market cap given current circulating supply. Easily doable should ETH run up into the 4000-5000 range.
After all is said and done I do expect LINK to come back down to the lower yellow trend line into the upper double digit area in the next full blown bear market.
Even if we halve this down (I like to be conservative) to 50B market cap it will give link a price of around 125 USD. Not a stretch as far as I'm concerned.
This chart is in part also based on the LINKBTC and LINKETH charts which are both very low right now. Seeing the downtrend on these charts reverse in the coming months is an easy assumption to make. You would only need to grant these two charts a corrective move to the upside really. LINK doesn't really have to put in stellar gains against BTC and ETH in order for the tripple digit price target to hit e.g. put bitcoin at modest 80k USD and have LINK retrace back to around the 0.0016 and you've already got your 125 USD LINK. The same goes for the LINKETH chart but even more extremely.
Given the release of the Chainlink 2.0 whitepaper and their plans to help DeFi go from 50B to 500B market cap in the next year, it would make sense to see link grow with a modest 5x at least, most DeFi project rely on LINK in some form and especially when you realize staking will have to release at some point as well. This will in all likelihood drastically dry up the available LINK supply. Which has, by the way, already been constantly shrinking on exchanges these last few months.
Are we gonna see a 1000 EOY meme come to reality THIS year? I doubt it to be honest. Triple digits however seem to be written in the stars for this bad boy. There are honestly very few (log) charts that inspire as much confidence as LINKs when zoomed out to larger time frames. It might not bring you a 100x this cycle, but if you're looking to be able to comfortably sit by the pool this summer and not worry about your crypto investment too much LINK is as good as it gets.
Penafian
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