A popular crypto strategist says Chainlink (LINK) is on track for progress despite its disappointing performance in the market last year.
In a new interview with crypto analyst Benjamin Cowen, the host of financial education YouTube channel InvestAnswers explains his bullish outlook for the decentralized oracle network.
“It’s the oracle that has its fingers in every pot…LINK/ETH, below the 0.008 level ($26.25). Whenever this happens, it’s a buy indicator for Chainlink …
It’s consolidating a bit at the moment, but I think with the addition as well as the notice [of] with the former CEO of Google being there, nothing but bullish times ahead for Chainlink.
In December, Chainlink announced that it had recruited former Google CEO Eric Schmidt as an advisor to the project. The host goes on to say that he is a little concerned about the tokenomics of the crypto asset, but also notes that its ubiquity sets it apart.
“I think the only thing that bothers me a bit about Chainlink is inflation – it’s a little higher than I would like, but you can’t deny how much of a part that is in the markets. smart contracts in every chain in the world. The ecosystem is explosive.
At the time of writing, LINK is valued at $24.93.
The analyst also shares his outlook for Ethereum (ETH) over the next 18 months. He says he doesn’t see any of Ethereum’s competitors gaining ground on ETH and that the leading smart contract platform will reign supreme.
” Nothing will happen. Ethereum will not be overtaken by the market capitalization of any other chain unless of course the wheels completely come off Ethereum. I think it’s very unlikely. Ethereum is slow and stable and it’s rock solid and everything works on it.
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