Although all eyes were on Ethereum crossing past $4,000, Chainlink reached a new all-time high of $52.70. In recent weeks, LINK Price has regained huge bullish momentum.
Oracle project, Chainlink is all set to explode and breakout, Benjamin Cowen sheds light on the price analysis and predictions. He shares his views and opinions with Altcoin Daily hosts Aaron and Austin Arnold and mentions that LINK deliberately gains value against bitcoin and tends to fix a spot in the top indicating that it has that staying power.
He adds that traders and investors should mainly concentrate on finding quality coins and then monitor its performance against bitcoin and not the US dollar.
He believes that it is more important for the investors to keep in mind that to invest in the coins that pass the test of time, rather than investing in coins which shoot up one day and fall 80% the next day which is not even worth giving a shot.
“One of the things that I think is important that everyone should do is to value your portfolio against Bitcoin, not USD. I’m not a fan of deterministic thinking. But if I were to think deterministically about any coin, it’s that Bitcoin is going up over the macro scale and increasing your Bitcoin stack is not a bad idea. If you’re a LINK marine, you can use these types of things to increase your LINK stack.”
Cowen tells the pair that, barring any crazy Bitcoin price swings, LINK could potentially hit three figures before the end of the year.
He assumes and understands that time is on our side with LINK, and that it will only be a matter of time before we reach the three-figure mark. He says it has the potential to reach $100, maybe even $200. That will almost certainly be contingent on Bitcoin stabilising at some stage and no longer flirting with price discovery.
The analyst believes that the macro bull market cycle, as well as the king cryptocurrency, have plenty of gas left in the tank.
“I always say don’t marry an altcoin. You’ve got to divorce it when it’s the time, but in the grand scheme of the market cycle, I feel like time is generally on our side. There [are] gonna be dips along the way and there [are] going to be corrections and we know that and we’ve seen that every cycle so far, but it doesn’t change the grand vision of where Bitcoin is headed because I do think that Bitcoin is headed to $100,000 or $200,000.”