dailyhodl.com
A popular crypto strategist says that Chainlink (LINK) is on track to move upwards despite its underwhelming 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.
“This is the oracle that has its fingers in every single pot… LINK/ETH, under the 0.008 ($26.25) level. Anytime that happens, that’s a buy indicator for Chainlink…
It’s kind of consolidating a little bit right now, but I think with the addition as well as the advisory [of] the former CEO of Google being on 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’s a bit worried about the crypto asset’s tokenomics, but also notes that its ubiquity sets it apart.
“I believe the only thing that concerns me a little bit about Chainlink is the inflation – that’s a little bit higher than I would like, but you cannot deny how it is part of everything in smart contracts across all chains all over the world. The ecosystem is bombastic.”
At 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 any significant ground on ETH, and that the leading smart contract platform will reign supreme.
“Nothing’s going to happen. Ethereum will not be overtaken by market cap by any other chain unless of course the wheels completely come off Ethereum. I think that’s very unlikely. Ethereum is slow and steady and it’s rock solid and everything runs on it.”