Michaël van de Poppe, in X, Chainlink will experience a big breakout against Bitcoin (LINK/BTC) this year stated.
“Against Bitcoin, Chainlink is still looking for a big breakout this year. “Higher lows are forming.”
LINK/BTC is trading at 0.000336 BTC ($14.09) at the time of writing. This indicates an upside potential of approximately 167% if the pair reaches the analyst’s target.
The analyst notes that Bitcoin will likely trade between around $49,000 and $39,000 before a breakout occurs after the halving event in April.
“I haven’t posted an update on this chart for Bitcoin in a while. It’s going pretty well as planned. “Now, consolidation will likely occur before we break out to new all-time highs.”
The trader is of the view that the total market capitalization of digital assets has entered an upward trend after testing the critical support level of $1.547 trillion.
“The total market cap of crypto has received liquidity and bounced from the critical zone. “It seems likely that we will reach 2 trillion dollars in the coming period.”
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