Chainlink has exceeded $10 billion in market cap during the last year and became one of the most popular and promising cryptocurrencies. That’s why we’re going to talk about LINK price predictions in this article.
The major reason for this surging popularity can be linked to the launch of Chainlink on the Ethereum mainnet and the Coinbase listing a few years ago.
The Ethereum blockchain-based platform serves to establish a connection between smart contracts and external data. The goal of the project is to optimize and popularize the use of smart contracts, as well as remove inaccuracies and errors in informing. To achieve this, they will need a decentralized oracle that operates within Chainlink. That’s because it enhances secure and precise data exchange between smart contracts and the physical world.
In this LINK price-related article, I will take a deep dive into the various cryptocurrency websites' price forecasts for the year. I will also look into what individuals from Twitter and YouTube have to say regarding the LINK token price in 2021.
The goal of these predictions is to give you suggestions on any investment decision regarding the token. However, my forecast is bullish, and I have bought the LINK token on Coinuma, a Spanish-based exchange launched recently. The exchange offers negative fees. That’s, they pay you to trade with them.
Meanwhile, before we look into those price projections, let’s look into the cryptocurrency and its token.
What is Chainlink?
Chainlink is a decentralized oracle network that aims to connect smart contracts with data from the real world. The platform seeks to bridge the gap between blockchain technology-based smart contracts and real-world applications.
Since the data cannot be accessed by blockchain outside of their network, oracle is needed to function as data feeds in smart contracts. In the case of Chainlink, the oracle is linked to the Ethereum network. Oracle’s primary work is to provide external data (such as weather, temperature) that trigger smart contract executions when a predefined condition has been fulfilled.
Oracle expands the blockchain’s usability because they provide a reliable way to initiate smart contracts when the outside parameters have been met. However, oracles are centralized, meaning that it makes them the weakest spot in the blockchain. And when an oracle is compromised or corrupted, the entire network is put at risk.
One of the core issues that Chainlink wants to solve is Ethereum’s inability to communicate with things that are not on the blockchain.
For instance, if you want Ethereum to tell you the result of the most recent elections, it would need someone to input the information manually. But Chainlink hopes that their oracles will eventually accomplish this task.
What is LINK?
LINK is the native governance token of the Chainlink decentralized oracle network. Its primary use is to pay node operators, development engineers, and data suppliers' needs. Although LINK is used as the only internal mode of payment, it is also easy to trade it for other cryptocurrencies or fiat money.
LINK is an ERC-20 token with the additional ERC223 transfer and calls functionality of transfer feature, which allows for tokens to be received and processed by contracts within a single transaction.
The ICO was launched in September 2017 and raised $32 million, overtopping the $16 million projected by the founder. They sold 1 billion LINK tokens- 32 percent were sent to node operators to incentivize the ecosystem, 30 percent stayed within the platform for development, while 35 percent were sold to the public.
History of Chainlink
Sergey Nazarov founded Chainlink with Steve Ellis as the co-founder. Sergey created Chainlink in 2017. But before then, Sergey found the parent company SmartContract.com in 2014 to build a bridge between external data sources and public blockchains. Eventually, the team created a product called Chainlink that allows smart contracts to link data feeds from any web API and data source.
However, SmartContract.com’s original solution to public blockchains was based on centralized oracles, developing what is called the Oracle problem- which is the problem that came as a result of smart contract's dependence on trusted third parties for external data. But to address the problem, they created Chainlink, a new decentralized oracle network.
Chainlink (LINK) Price Prediction for 2021
LINK is a cryptocurrency with an excellent vision. It burst into the top 10 cryptocurrencies by market cap last year. And since the beginning of the year, the LINK price has increased by more than 200%. Some experts say that the reason for such a burst in price is because of the demand for it.
According to cryptocurrency enthusiasts, there are still lots of scenarios of Chainlink development and its roles in the crypto space. This LINK development has drawn the attention of people.
Various crypto websites have made Chainlink price prediction for 2021. In most of these forecasts, the websites looked into the historical price data while others considered the developments in the crypto space. Let’s look into the LINK price forecasts by popular crypto prediction websites.
LINK Prediction by Tradingbeasts
Tradingbeasts is among the websites that have made their LINK price prediction for 2021. According to them, the Chainlink price will trade at an average of $25.86 with a minimum price of $21.98 and a maximum price of $32.32.
In 3 years, it will trade above $30. This prediction means that the price will stabilize in the year. It could also mean that LINK could become a profitable short-term investment.
The website also said that its price projections are only a suggestion and not investment advice.
Coinpedia Predicts $50 Per LINK
This website has joined others to forecast the future price of Chainlink. The website looked into the cryptocurrency and the predictions of other websites.
From there, Coinpedia analysts drew their own future price projection. In the case of LINK, after considering various factors such as the historical price data, the estimation of other websites, they see the LINK price trading at $50 by the end of the year.
Also, in the future, it could reach $100. For this website, the digital currency will be a profitable investment in the short and long term.
Longforecast’s LINK Price Prediction
When crypto prediction websites are ranked, Longforecast will always have a place in the top ten. It is one of the oldest forecast platforms, which makes users value them. In their LINK price prediction for 2021, the Longforecast team estimates that it will reach $37 before the end of the year.
They are highly bullish and see the cryptocurrency as a profitable long- and short-term investment. Digging further, The website project LINK price to reach $55 in the next 5 years. So, I can say that this website is also very optimistic about a price increase in the year and beyond.
Digitalcoinprice — “LINK Will Reach $40.95 in 2021"
Digitalcoinprice is another website that forecasts a bullish price trend for LINK in the year. According to their estimations, LINK will reach $40.95 by the end of 2021.
Also, in their subsequent year’s price projection, Digitalcoinprice team sees Chainlink value surpassing $58 in the next 5 years.
The website also went further to represent their projection graphically (which shows LINK price upward movement) to give you a clear understanding of their forecast.
LINK Price Prediction by Gov.capital
Gov.capital is a popular website that forecasts cryptocurrencies’ future price, real estate, the stock market, and forex. The versatility of the website draws people’s attention to its predictions.
The website project that LINK will trade at an average price of $38.67 with the least possible price of $32.88 or highest possible price of $44.49 in the year.
The website's long-term LINK price estimation is also bullish. So, the experts on the website are bullish on LINK for short- and long-term investment.
Walletinvestor’s LINK prediction
Walletinvestor crypto analysts are highly bullish on LINK price this year. Accordingly, they estimate LINK’s price to reach an average price of $46.62 by the end of the year. The website thinks that LINK is an awesome long-term (1 year) investment.
And if you are looking for virtual currencies with good returns, LINK can be a profitable investment option. The website's long-term projection is also bullish.
Website analysts considered historical price data in its forecast. Walletinvestor also wrote a detailed analysis of the coin and answered questions to give you a clear understanding of their prediction.
Coinarbitragebot is Bearish on LINK
Through looking into the historical price data of LINK, the website sees the coins price falling to $21.45 at the end of 2021. But in the next 3 years, it could rise to $153.51.
If you invest now, your investment will likely fall or remain stagnant in the year but could triple in the next three years. The experts on this website went further to explain how they arrived at their forecast in their technical analysis of Chainlink. You can check it out.
Just like the name sound, Cryptocurrencypriceprediction focuses on analyzing cryptocurrencies and estimating the future price. Their Chainlink price prediction for 2021 is highly bullish like many platforms.
This website projects that LINK might trade at $67.85 by the end of the year. Also, their long-term forecast (5 years +) is highly bullish, which is $435. Having gone through the website's LINK price projection for the year and beyond, I see they believe that LINK will be a profitable long- and short-term investment.
Chainlink is a popular cryptocurrency, which means that many websites will forecast its future price. However, you can do more in-depth research to uncover more Chainlink price predictions for 2021.
In the website’s predictions so far, you will notice that apart from Coinarbitragebot that sees LINKs price slightly falling in the year, others project a bullish short-term investment.
Also, all the websites agree that Chainlink price will surge in the long run (5 years and above). The majority of the websites used their in-house algorithm, which estimates the future price of a coin, while some considered the historical price data in their forecast.
However, let’s look into YouTube and Twitter and see what users have to say on the LINK price prediction for 2021. Let’s see if their views are the same or contrary.
Youtubers and their Chainlink Price Predictions 2021
Several popular crypto YouTubers have made their LINK price prediction for the year. I will look into a few of them.
Louis Thomas — $80 per LINK
Louis Thomas made his Link prediction in the early days of the year. According to the YouTuber, LINK will trade at an average price of $80 by the end of the year.
However, also thinks that it could exceed $200 in the year. But one thing to take is that Louis forecasts a bullish price trend for LINK in the year.
Most people who commented agreed with his forecast, while others went as far as dropping their own price projection in the comment section.
Benjamin Cowen is Very Bullish
In this YouTubers Chainlink price prediction for 2021, Benjamin projects LINK price could reach $100 in the year. Also went further to prove that it is possible that it could reach that high.
The user considered the altcoin bullish season and the surging popularity of cryptocurrency in his forecast.
Crypto Academy’s Forecast
Crypto Academy looked into Chainlink cryptocurrency in detail and whether it is a worthy investment before making its LINK price prediction. In the forecast, estimates it could reach $50 by the end of the year. And by the end of 2022, it will reach $100.
Users who commented think that the forecast is possible. The user also looked into the various website link predictions in the video.
ChainLink Price Forecast for 2021 on Twitter
On Twitter, various users have made their predictions; let’s look into the major ones.
Bitcoinprophet1 Thinks LINK Can Hit $1000!
In a prediction made on January 10 this year, the Twitter user said that the LINK price would reach $1000 by the end of the year. Chainlink was among the 20 cryptocurrencies that he forecasted their future price. You can follow the tweet here
The tweet drew lots of comments. Many agreed that the LINK price would increase in the year.
The Twitter user forecasted the future price of 7 cryptocurrencies, of which LINK was among. The user’s Chainlink price estimation for the year is between $35 — $40. “#LILTRADER PRICE PREDICTION FOR THE END OF 2021 FOR THESE #CRYPTO: $BNB: $350 / $LTC: $300 / $LINK: $35-$40… NOT IMPOSSIBLE FOR MY POINT OF VIEW. “
One of the users who commented on the post predicts that Link's price will reach $100 in the year.
Paul Hyland, a crypto enthusiast, predicted the future price of cryptocurrencies for the Golden bull run altcoin season in the year. Among the coins is Chainlink, which he said would trade around $250 — $350. “Looking for 2021 peak #GoldenBullrun price predictions pls🚀🌙 Heres mine: $BTC $80–100K / $ETH $4–5K * / $XRP $0.10–0.12 / $LTC $1.5–2K / $DOT $120–150 / $BNB $110–130 / $LINK $250–350 * / * = I own”
Most of the comments so far believe that some of the coins might hit those price projections. Some users also dropped their own forecast in the comments section.
Crypto Bull’s Forecast for LINK
The cryptocurrency trader is among those that have dropped there Chainlink price prediction for 2021. The Twitter user thinks that LINK value might reach $45 in the year. “Price predictions for Q2 2021: $BTC $100000 / $ETH $3500 / $XRP 1.5$ / $DOT $35 / $EOS $15 / $VET $ 0.5 / $ZIL $1 / $YFI $200000 / $SCRT $10 / $LINK $45…”
The Twitter user asked people their LINK price prediction for 2021? But the user's own forecast is $75+. Most of the users that commented said $60, $70, etc. “Hey frens! What are your price predictions for $LINK in 2021? I will say $75+”
Chainlink Could be a Profitable Investment in 2021
Chainlink is one of the projects that expands the functionality of the world’s blockchain and provides developers with a new level of flexibility. This makes the project one of the sorts after in the market. Crypto experts think that Chainlink and LINK token will expand and grow in value in the coming years.
The Chainlink price predictions above show that the value of Chainlink will increase in the long run. According to the forecast, the highest price estimation was from a Twitter user, Bitcoinprophet1, who thinks LINK could reach $1000 in the year, while the lowest LINK price forecast was from Coinarbitragebot, which projects $21.45 in the year.
But in general, all are optimistic about a profitable long-term investment. In your own view, what is your LINK price forecast for 2021?