- Timothy Peterson has forecasted that Chainlink could rise to $80
- His estimate is based on Chainlink’s relationship with Bitcoin
- Where BTC goes, LINK is not that far behind
- Bitcoin is closing in on $60k with Chainlink looking to defend the $34 price area during today’s weekly close
Timothy Peterson, of Cane Island Alternative Advisors, has forecasted that Chainlink’s value could be boosted by Bitcoin’s current market momentum based on the correlation between these two assets. According to Mr. Peterson, if the LINK/BTC relationship is used as a guide, Chainlink could soon hit $80 due to Bitcoin thriving in the crypto markets. The latter asset is trading at $57k in what looks like consolidation in preparation to test $60k.
His analysis on Chainlink relative to Bitcoin was shared through the following statement and chart on the social media platform of Twitter.
#Bitcoin‘s rise could “pull” #ChainLink up to $80 in 30 days.
Tweets on Chainlink are Not Financial Advice
Mr. Peterson went on to remind his Twitter followers that his tweets should not be considered as financial advice. His analysis is purely for educational purposes and/or to point out observations about digital assets that he has made over time. His disclaimer regarding what he tweets can be found below.