Chainlink has been on an absolute tear for the last few months. So we are going to go over its price potential for 2020/2021, and talk about if its worth buying at these levels. On a side note this is not financial advice and you should absolutely do your own research when looking to buy any cryptocurrency. However this coin is currently up close to 500% on the year. That’s pretty insane and if you back a year or so ago it was valued at only $1.80. Its since reached over $15 dollars and doesn’t look like its slowing down.
What Is Chainlink?
ChainLink is a truly unique blockchain project, the first of its kind. The decentralized oracle service is currently based on Ethereum and brings the power of developing blockchain solutions for traditional businesses as well as enterprises. Many factors make ChainLink unique. It is a concept dedicated entirely to making smart contracts more connected to the outside world. The smart contract concept was first introduced by Ethereum; however, their smart contracts can only manage data on the blockchain. Clearly the project has caught on since its price won’t stop soaring.
Price Potential 2020
Chainlink’s price potential going into the rest of 2020 could go as high as $30. If anything I wouldn’t be surprised to see it at least reach the $20 levels at the pace its going. Clearly nothing just goes straight up forever, and it will eventually have to retrace a little bit. Even so it has plenty of time to get up into the $20 range before we finish off the year.
Price Potential 2021
Now know one can predict the future. However I have no issues saying that Chainlink has the potential to go up to $50 by the end of 2021. It would put it into the top 5 coins by market cap worldwide. Since its sitting at around $15 that seems like a pretty optimistic price prediction. However if you look at the percentage of gains this coin has received its not that unreasonable.
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Now the million dollar question being is Chainlink worth buying? If you could get the coin at the right price and are willing to hold onto it for awhile absolutely. As I said this is not financial advice, but seeing how this coin simply won’t stop going up in price I wouldn’t sleep on it. A pro tip would not be to buy the coin as it keeps rising in price, but wait for some kind of pull back to find a good entry point. If your interested in checking out some other great crypto coins click here.