Bitcoin And Chainlink New Prediction Is Out

It has been just revealed that we have new price predictions for BTC and LINK. Check them out below.

A popular crypto analyst is monitoring Bitcoin’s movements and analyzing Chainlink’s latest developments.

The pseudonymous crypto trader, Rekt Capital, shares with his 354,700 followers on the social media platform X that BTC’s current price point is serving as a “point of reflection” for the top crypto asset by market cap.

Rekt Capital suggests that BTC’s current price point is currently acting as a “point of rejection” and recommends keeping a close eye on it.

At the time of writing, BTC is valued at $26,899, marking a decrease of 0.5% in the past 24 hours. In the latest edition of the Altcoin Newsletter for traders, Rekt Capital presents a “short story” primarily conveyed through charts, detailing Chainlink’s recent price movements which resulted in a 44% increase since mid-August.

Despite LINK’s inability to break out of its macro downtrend, the trader suggests that its current price is well-positioned to close the week above the trendline.

Should this occur, a retest of the downtrend is likely, potentially leading to an upward movement for LINK.

However, a successful retest of the downtrend and a close above the range high resistance as support are necessary for LINK to confirm a breakout from its Macro Range.

According to Jurrien Timmer, the global macro director at Fidelity Investments, a recession could result in a significant rally for Bitcoin (BTC). Timmer states that Bitcoin’s gains are dependent on the decline of current high-interest rates.

He goes on to explain that the macro narrative needs to shift from being restrictive to accommodative to continue driving Bitcoin’s growth.

Timmer’s chart depicts a price band based on a typical adoption curve and a range of real interest rates (-2% to +2%). This range is derived from the past adoption rate of the internet and nominal interest minus inflation.