Chainlink (LINK) is among the best-performing cryptocurrencies in the last 24 hours. The asset’s price has surged by more than 20% in the daily charts, compared to Bitcoin (BTC) rallying 3.6% and Ethereum (ETH) rallying 7.1% in the same time frame.
LINK’s price has risen by 20% in the daily charts, 12.9% in the weekly charts, 48.4% in the 14-day charts, and 84.5% over the previous month. The asset’s price has also risen by 79.3% since December 2023.
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Why Is Chainlink Rallying Today?
LINK’s latest upward swing could be due to a general market resurgence. Bitcoin (BTC) has reclaimed the $101,000 level and is inching closer to a new all-time high. Investor sentiment may pick up steam once again.
Another possible reason for LINK’s rally could be rumors about a potential BlackRock partnership. Members from both parties reportedly met at the Abu Dhabi Finance Week. The reports have led to speculation whether both companies are working on a partnership.
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Will The Asset Hit $50 Next?
Chainlink (LINK) is currently down by 48.4% from its all-time high of $52.70. The asset’s price peaked in May 2021.
According to CoinCodex, LINK will continue to rally over the next few months. The platform predicts LINK will trade at a new all-time high of $66.77 on Feb. 21, 2024. Hitting $66.77 from current price levels will result in a rally of about 138.98%.
Several analysts anticipate the crypto market will surge under Donald Trump’s leadership. Many expect an extended bull run over the next few years. Trump has named a White House crypto czar and a new crypto-lenient SEC chair. Under such market conditions, LINK’s price could eventually breach the $100 mark.
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