A Stable/Bullish Bitcoin Puts Chainlink (LINK) On Road to $20: Analyst

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If Bitcoin achieves stability or further bullishness in the sessions ahead, it could help its rival asset Chainlink (LINK) add more value to its market capitalization. So says Kevin Svenson, an independent market analyst. The chartist noted in an early Thursday tweet that LINK could hit a $20 valuation, almost 66 percent higher from where it is trading at the time of this writing. He made the bullish prediction after spotting the altcoin’s October performance, wherein it climbed by almost 18 percent to date. “Chainlink has been increasing in price for the past month. Looking pretty good,” wrote Mr. Svenson. “If Bitcoin can remain stable and/or bullish we could develop another parabolic trend going into 2021. Who is ready for a +$20 LINK?” Chainlink is resuming its uptrend after breaking lower from its previous parabolic support. Source: LINKUSD on TradingView.com Correlation The statement somewhat took cues from LINK’s dependence on…

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