Analysts predict that Chainlink (LINK) might be about to take off after a bullish signal generated by its MACD indicator. Kevin Svenson, a crypto analyst, suggests that the potential pump is probably owing to a change in money flow from the popular Pepe memecoin. According to Svenson, market dynamics such as PEPE's tremendous 5,000% growth in just one month, could cause a shift of investment from this speculative coin to bigger assets like Bitcoin (BTC) and Ethereum (ETH). Consequently, this could set the entire market—LINK included—on an upwards trajectory.

On the other hand, Svenson's predictions around Bitcoin is that it is nearing a point in its path of growth where another increase is inevitable. Estimations are that the flagship cryptocurrency would reach a high of $48,000, a 65% jump from the current position. The analyst predicts this will set off another winning streak for altcoins like LINK which, compared to bitcoin, lag behind in pricing but tend to increase at a faster rate once Bitcoin's bull run kicks in. Moreover, Svenson says that even BTC skeptics will be left astonished by the potential surge that may take place soon for Bitcoin.

In conclusion, LINK and many other altcoins on the cryptocurrency market, could be bolstered in value by the bullish predictions of a shift in capital from PEPE to the main established crypto assets—Bitcoin and Ethereum. Svenson's predictions come at a time when the memecoin is generating hype and it's thought that the rising momentum around this coin could prove an impetus for altcoins, particularly Chainlink, to rise in value and take advantage of a booming crypto market.



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