Chainlink or Link is a decentralized oracle project that has been lately in the news, especially on the fronts of price action, partnerships, and adoption. Chainlink is a top 15th cryptocurrency by market capitalization. While it was a great disappointment for crypto investors in 2019, LINK coin price went from $0.299 on 1 January 2019 to $1.840 on 31 December 2019. It means that LINK might have that investment potential, perhaps short-term in 2020 or even long-term.
What Chainlink price prediction do experts offer for 2020 and the long term? Let’s find out!
What is LINK?
Chainlink is an Ethereum token that controls the LINK decentralized oracle network. It allows smart contracts on ETH to securely link to payment systems, APIs, and other external data sources. Simply put, Chainlink is a platform that bridges the gap between the real-world applications and the smart contracts on the blockchain. The cryptocurrency makes use of ‘oracles’ that finds and verifies real-world data to be integrated into smart contracts.
It was founded in September 2014 by a company called SmartContract. Chainlink comprises of two primary architectural components — off-chain and on-chain infrastructure. In on-chain infrastructure, on-chain oracle contracts are deployed on Ethereum blockchain. These contracts process the data request of the user who wants to access the off-chain data.
LINK Price: What Does It Depend On?
The crypto community values LINK projects since investors know that the team behind Chainlink is working tight-tipped on their project. The cryptocurrency has been giving major performance goals to the digital currency space. However, it is quite tricky to predict the trends since it is considered a newer cryptocurrency. It has been relatively stable in the short period of its existence. But one aspect that will determine the Chainlink price is its previously inaccessible Smart Contract technology to the everyday applications.
With the increasing popularity of the technology, the price may fluctuate in a positive direction in the future.
LINK Price Prediction 2020
The current chainlink coin price is $2.31 as compared to previous year’s $1.84 and its circulating supply is 350,000,000 LINK. It is safe to say that the LINK coin price has already touched the maximum price. However, the price may fluctuate based on certain factors. So, it is hard to tell what the scenario will be like at the end of 2020.
To make the prediction more reliable, let’s see what popular prediction sites have to say about it.
Crypto investors know that Wallet Investor doesn’t give optimistic predictions for the majority of the digital currencies. However, for Chainlink coin, it is a different scenario. According to Wallet Investor, LINK USD price may go as high as $6.842 by the end of 2020, which is quite remarkable.
Digital Coin Price, which believes in giving monthly predictions, has predicted that the price of Chainlink will reach $6.86 by the end of 2020.
#3 Coin Fan
Every investor looks up to Coin Fan since it gives optimistic numbers when it comes to cryptocurrency. They are certainly too confident about Chainlink, predicting that the LINK price might reach $12.08 by the end of 2020. This is certainly way more bullish.
Trading Beasts has given both minimum and maximum price predictions for Chainlink for the year 2020. According to the website, the minimum price Chainlink will attain at the end of 2020 is $3.74, and the maximum price it will attain at the end of 2020 is $4.68.
LINK Long Term Price Prediction
Experts and industry players believe that LINK might grow up to be a winner in the digital currency space. Considering its ongoing developments and achievements, investors are quite optimistic about it doing well in the long-term.
Some believe that Chainlink might fly as high as $17.5 in the next five years. However, some have predicted that the price might fall down as low as $1.07 by 2023, which is an unbelievable prediction.
On average, LINK long-term prediction is valued at $12.26 in five years’ timeframe.
Where to buy LINK?
If you are considering buying a LINK for an investment purpose, then you can do it using ChangeNOW. It offers a simple and fast Chainlink exchange, picks the best rates available at the market, does not require registration.
Here’s a step-by-step guide on how you can buy Chainlink with ChangeNOW:
- Go to ChangeNOW homepage > select a currency > enter the amount you would like to deposit and click Exchange. Consider the image as an example:
2. Next, enter your wallet address. You will receive your coins there.
3. You will be directed to the final window where you have to check all the information before clicking Confirm.
4. Once you confirm, you can send the currency to the generated address.
We hope that after this guide will help you to make an informed decision about whether to invest in LINK. To learn more about Chainlink, please visit the following article in our blog.
Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.