Chainlink Soars 15%: The Next Altcoin Backed by Traders for Major Surge

Jonathan Stoker Feb 02, 2024, 14:50pm 69 views

Chainlink Soars 15%: The Next Altcoin Backed by Traders for Major Surge

ChainlinkChainlink$15.6 -4.61% (LINK), a renowned cryptocurrency, has experienced a 15% increase in value in the last 24 hours, demonstrating a wider recovery in the cryptocurrency market. Currently trading above $18, LINK has regained essential technical positions after dipping below $14 the previous week.

While the revival of LINK has created excitement among investors, they are also focusing on BitcoinBitcoin$42,260 -0.64% Minetrix (BTCMTX), an altcoin with promising prospects due to its innovative Stake-to-Mine feature.

Predictions of Chainlink's Potential Run to $30

Michael Van de Poppe, a well-known analyst, has confirmed a higher low on the weekly chart for Chainlink. As per him, if EthereumEthereum$2,315 -2.42% gains momentum in the upcoming weeks, there could be a significant breakout on Chainlink, potentially pushing the token's value to $25-$30.

This analysis aligns with the current technical picture for Chainlink (LINK). After hitting a low of $13.59 last Thursday, LINK has regained its 50-day exponential moving average (EMA) along with its 0.764 Fibonacci level around $14.80. The recapture of these levels has paved the way for further potential growth for Chainlink (LINK).

Crypto Market Recovery Fuelling Chainlink's Growth

Further propelling Chainlink's boost is the broader recovery in the crypto market, with Bitcoin (BTC) rebounding over $43,000. With key resistance levels transformed into support and bullish momentum building, analysts predict Chainlink (LINK) may soon reach the significant $20 level.

Chainlink's CCIP Set to Unleash Blockchain Potential

2024 holds great promise for Chainlink, especially with the growing significance of its Cross-Chain Interoperability Protocol (CCIP). CCIP is a standardized framework designed to improve communication and interaction between different blockchains. It ensures the secure and seamless transfer of data and tokens across various networks, making it a crucial element for interoperability in the blockchain space.

Many investors believe that CCIP will be a key demand driver for Chainlink (LINK) in 2024 and the years ahead.

Bitcoin Minetrix Surpasses $10m Funding Milestone as Investor Interest Increases

While Chainlink (LINK) has promising long-term prospects, traders are also shifting their focus to the presale of Bitcoin Minetrix (BTCMTX), a new altcoin that has created a buzz in the cryptocurrency community with its innovative tokenomics and focus on accessibility.

Bitcoin Minetrix is introducing a Stake-to-Mine mechanism that allows users to stake BTCMTX tokens to earn mining credits. Moreover, BTCMTX comes with a built-in staking protocol that enables token holders to earn attractive yields.

Four months post its presale launch, Bitcoin Minetrix has succeeded in raising over $10.1 million, indicating high investor interest around the project. Currently, BTCMTX tokens can be purchased for just $0.0132, with accepted payment options in ETH, USDT, or credit/debit cards. Post the presale, BTCMTX is anticipated to be listed on leading exchanges and an explosive rally is predicted upon its debut.

With the presale momentum showing no signs of slowing and market conditions turning bullish, Bitcoin Minetrix could be well-positioned for an exciting year ahead.

Edited by Jonathan Stoker

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