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With the launch of ChatGPT, interest in artificial intelligence (AI) has greatly increased, prompting major platforms to expand in this area. One of the most significant examples of this expansion is the release of Google’s AI chatbot, Google Bard. Google Bard possesses extraordinary abilities, such as expertly analyzing trends in the cryptocurrency market. In this context, Google Bard was asked to analyze the leading altcoin Chainlink (LINK) and predict the price levels it could reach in 2024.
The Biggest Hurdle Ahead for LINK: The $15 Level
Considering its continuous upward price movements and attempts to break above the $15 threshold, the $15 level is an important barrier that Chainlink’s LINK needs to overcome. Experienced cryptocurrency analyst Ali Martinez also stated that he believes the biggest obstacle to LINK reaching the $20 threshold is the $15 level. Analyzing LINK from his personal X account, Martinez pointed out that there are approximately 19,000 wallet addresses holding about 73.6 million LINK at this level.
Market observers believe that LINK needs to surpass this threshold to rise, and if it does, they expect it to make a significant breakout by maintaining its upward momentum.
Google Bard’s Chainlink Forecast
Despite a clear technical outlook, Google Bard was asked whether the price of LINK would rise in 2024. Google Bard began its LINK assessment by stating that the potential bottom level is $10.
The information obtained from the AI chatbot indicates that the altcoin will trade at an average price ranging from $14 to $18 in 2024, with the highest possible price level being $25.
However, Google Bard noted that the indicated price range is only a reasonable scenario, and the scenario could change with the rise or fall of the price of Bitcoin (BTC), the largest cryptocurrency, at the beginning of 2024. According to Google’s AI, there are numerous factors that could affect Chainlink’s future value, and overall market sentiment will be decisive in whether the price rises or falls.
Chainlink’s oracle services are widely accepted in decentralized finance (DeFi), NFTs, and various Blockchain applications, and their importance is increasingly growing in securely transferring data between smart contracts and external sources. This expanding integration could strengthen Chainlink’s role in advancing DeFi and Blockchain technologies.
The implementation of Chainlink 2.0 and other network upgrades demonstrates the platform’s commitment to advancing in the Blockchain sector by increasing the network’s efficiency and security. As expected, all these developments point to stronger and more reliable conditions for decentralized oracle services.
