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chain link is one of the most important cryptocurrencies that there is its an oracle cryptocurrency that is required for other smart contracts to operate so if ethereum and all of these other cryptos go up in value i believe chain link is going to follow them and chain links should see some very good returns this market cycle and in the long term so in todays video im going to unpack why i believe chain link will reach 305 dollars this market cycle if you enjoy the video of course remember to like and subscribe and remember nothing said in this video is financial advice i am doing a price prediction that means im only predicting where the price will go i do not necessarily know where the price will go so lets quickly get into a quick recap of what chain link is for anyone whos not refreshed with it i have done a video on chain link before and if you want to see this it will be located in the top right so chain link is an oracle cryptocurrency these are third-party infinite information sources which supply data to blockchains that support smart contracts so if the ethereum cryptocurrency wants data theyll need to use chain link to give them real-world data or real-world price feeds this will give it to the cryptocurrency in a decentralized way so no third party is required and it will mean that theres enough real-world data to allow smart contracts to operate if you dont know what smart contracts are i also suggest you watch the ethereum video i did which will also be located in the top right so chain link has a ton of real world use cases like retail payments data from blockchains bank payments and i really do believe chain link is well positioned this market cycle to really take off so lets consider a few important factors before we get into the price prediction of chain link chain link has never really had a bear market it icoed in around june of 2017 and has just gone up from there chain link has steadily gone up over time of course its had pullbacks like any crypto however these have been short-lived and if you look at the chart it has just gone up over the long term and its really a crypto that has stood the test of time most bad cryptocurrencies will have huge bear markets and massive blow off tops chain link is just steadily going up and this is because its such a fundamentally sound project and i believe it can cont continue to do this into the long term as ive already said chain link has an immense use case with all of the other crypto currencies blockchains like ethereum use chain link and tons of other blockchains use it for their smart contracts so i do believe chain link will be somewhat correlated with the price of other blockchains if ethereum goes up heaps what this will mean is more people know ethereum more people will be using ethereum to make supply smart contracts and therefore more people will be using chain link and it should also generally follow in price this hasnt been proven too much yet and chain link hasnt been that correlated with other cryptos but now that chain link is a big player in the oracle space having about 70 market share for oracles i do believe chain link is going to follow the prices of other cryptos of course this is great because ethereum has just exploded in recent times so i would love to see chain link follow on its footsteps in the short term and also another side note i did say chain links never gone down really however i do eventually believe it will enter a downward trend and i think itll be at the end of the market cycle so as ive already said we have seen ethereum explode in the short term having a massive price jump and i do believe this is going to rub off on chain link a little bit and were going to see people start getting into chain link because it is a bit cheaper than ethereum clearly its a 20 billion dollar coin and ethereum is a 400 billion dollar coin so i do believe that we may start seeing a bit of this price action come into chain link now lets take a look at where chain link is placed on coin market cap it is number 11. however if we exclude stable coins like tether because the stable coin really doesnt count its just pegged to the dollar chain link is 10 also a side note bitcoin cash has just overtaken chain link at the time of recording so chain link is 11th now i suppose so 11 for chain link i seem is think is too low chain link is one of the most important crypto projects its needed for smart contracts to run in my opinion chain link is more important than litecoin and bitcoin cash so i believe it should easily be ahead of these players i also think chain link does more than xrp and it does do in my opinion more than uni swap however i do love uni swap regardless but i do think chain link should be in the top 10 and i believe it should firmly be in the top 10. currently chain link takes up 0.8 percent of the total crypto market cap but i believe this is going to be much much lower uh much much higher and i believe chain link will take up around 1.6 of the crypto market cap because i am bullish on this coin and i believe it will outperform also bitcoin dominance has been on a huge slide it was up at above 70 now its below 50 and it looks well on its way to 30 bitcoin is crashing in market dominance all the altcoins are coming up and taking away its market share so if bitcoin dominance continues to lower i believe chain link will take a bit of that market share and that can easily push it up to 1.6 so this is not a random estimate i believe its very important bitcoin dominance is dropping some of the alts will come up and i believe chain link will beat out a few of the other olds because of its utility thats how i arrive at it eventually getting to 1.6 market dominance all right so now were going to move over to the charts to see whats happening with chain link i will warn you i am not a god at technical analysis or anything and im not doing short term technical analysis here were doing macro analysis of chain link and what chain link has done in the past all right lets get into it so right now chain link is sitting at 47 us dollars the first thing were going to look at is this extension from this blue moving average line so as we can see all the way back here ive noted down that chain link was extended from this moving average line by 627 it was then extended from this line by 358 and now theres a 140 percent extension from the line which is sitting at 20 it doesnt really matter where this moving average line is all were doing is were seeing how far extended chain link is right now and it seems like chain link is in a spot where its been heaps a lot of people have been saying chain links price has gone crazy and chain link is having a bit of a blow off top price at fifty dollars a local top in the short term however i dont see this chain link does not look overextended and as we can see we cannot touch this moving average line for a ton of days 259 days to be exact if this got to the same level of extension that it has right now it would be a hundred and twenty five dollars per link however the line would probably move up so it would have even more of a higher price if chain link moved up so right now i dont think its over extended were also going to look whats it done in the past this is a logarithmic graph but you can see chain link has just gone up talk about standing the test of time this currency has just gone up and up and up of course it had a little bit of a drop down here for about roughly a year but this is nothing compared to the other cryptos its really just gone up and up ever since inception which looks great for the currency its a really great graph this one and i do like the trajectory that chain link is headed on so i believe eventually this chart is going to get up into the 300 range and i will tell you specifically why in my conclusion however im thinking the chain link chart is looking pretty good right now so lets compare our chain link to our bitcoin to see where chain link can potentially go in the long term so if we have a look at bitcoin versus chain link this graph does not show everything the graph doesnt go on forever however what im seeing right now is weve had a bit of a double bottom on the bitcoin cut bitcoin chart so chain link has really bled against bitcoin however it looks to be having a bit of a double bottom right now and coming back up its recently just broken through this line of resistance that ive got there and remember with lines of resistance its just where its most obvious i can see a whole bunch of points testing this and its easily broken through that point if we see chain link get back up to where it was originally i could see a 97 price on chain link if bitcoin stayed stable so if we could get to 0.001676 bitcoins chain link would be a price of 97. its been there in the past and i do believe bitcoins going to about triple by the end of this market cycle so i believe this is where chain links going to get back to giving it around a 300 price target also being pretty consistent with my price target overall now unfortunately i also want to have a look at chain link versus ethereum this isnt going to look too good because ethereum has literally exploded in the past few days and chain links probably not going to fare that well against ethereum right now all right so lets get the dimensions right on this chart as we can see another double bottom appears to be forming lee etherium has gone absolutely crazy recently and this is seen in the chart with chain links valuation really sliding however i believe its bottoming out around this area and it looks like an accumulation zone i think its time for ethereum to slow down and cool off and i really believe chain link is going to come and take charge and shane link should do very well against affirm right now reaching back to the previous levels it once did so i do overall believe the charts look pretty good for chain link right now and were really setting up for a good bull run with chain link i believe were about halfway through this market cycle and i think chain link is primed to go very well so lets conclude what weve found about chain link i believe this market cycle is going to end by the end of this year or the beginning of next year the reason i believe this just quickly is because we are seeing diminished returns however in previous data weve seen the cycles go for much longer and weve seen them go much higher each cycle seems to be going a bit lower in return on investment but extending out a bit longer and if we look at historical data we can see we have a bit to go if you want to see more into this check out my other price prediction videos i go through it in great detail so currently chain link holds 0.8 percent of the total market capitalization seeming pretty undervalued i believe chain link has the potential to reach 1.6 of total market capitalization total market cap looks like its headed towards 8 trillion in my opinion based on what its previously done as such i believe chain link can get a market capitalization of 128 billion and a price of 305 us dollars now this does seem like a very high price but i do believe chain link has the potential to outperform and double in what its currently doing for its total market capitalization and i really do think that it can get there before the end of this market cycle if we get back to our original value against a bitcoin and bitcoin drops in dominance and achieves around 150 000 this also gives chain link a price target of 305 same as if we get back to those old ethereum levels i also do believe we can stay well above the moving average lines and it looks like chain link is on a great bull run as weve seen in the charts history tells us that we can keep being extended for a long period of time as ive already shown and i do believe its going to go very well this market cycle especially given its immense utility if you enjoyed the video please comment below in the comments what you liked about it what you disagree with it if youre a fan of chain link or if you have any holdings also remember to like and subscribe we are approaching 200 subscribers and it would be much appreciated if you could help out thanks for watching guys Welcome to Max Invests!Just a reminder, nothing in this channel is financial advice and everything is made for entertainment purposes only. In this channel we do deep dives into specific stocks and discuss the general market. I provide my own subjective opinion on these stocks and the future outlook for the market! Today we are taking a look at Chainlink are where I believe it can go by the end of this market cycle. If you enjoy the content make sure to like and subscribe!