Experienced Analyst: This Altcoin Will Even Overtake Bitcoin!

According to cryptocurrency analyst Benjamin Cowen, Bitcoin is poised for higher highs. But an Ethereum-based altcoin will outperform BTC.

Experienced analyst says this altcoin project could outperform Bitcoin

According to the popular crypto analyst, Chainlink (LINK) may surpass Bitcoin due to a number of key metrics. In a new interview, Cowen shared his bullish sentiment on Chainlink:

Many of the topics I’m currently discussing on my channel are why Bitcoin dominance should increase significantly. However, even as Bitcoin’s dominance rises, few altcoins continue to outperform it. And if history is to be a random guide, Chainlink is an adequate place to look at the end of the bear market and the accumulation cycle before the next bull market.

According to Cowen, many projects have adopted the Chainlink network to support smart contracts and secure data transfer. However, general bear market conditions are putting pressure on LINK price. Cowen summarized the current view in part of the publication:

Chainlink acts as a backbone for many cryptocurrencies…. We’ve seen how many crypto projects it has integrated itself into over the years, and I believe it has benefited by offering real-time integrations via Blockchain. That said, I believe the fundamentals of Chainlink shine a little bit brighter in a bear market than it sometimes does in a bull market, which is one of the reasons I think it hasn’t been performing well lately. Of course, it’s not because Chainlink is a crappy project; rather, because of the overall market risk and the fact that we are in a bear market.

So what time?

In the coming months, the analyst says he will examine how smooth the price of LINK will be if the markets continue to decline as a result of the US raising interest rates:

One of the things I’m looking for is how well LINK will hold up and how it will hold up against Bitcoin if we have a little more real horror at the end of the year as the Fed keeps raising interest rates.

important news

Chainlink has been falling for the past seven days. But the new collaboration could help re-engage interest. Chainlink announced that it is collaborating with zksync’s tier 2 environments to integrate new price streams. These new integrations had an impact on Chainlink’s development activity. As you can see from the photo below, development activity has seen a huge spike over the past few weeks.

Koindeks.com As you follow, LINK price is currently trading at $ 6.98. LINK started to decline after September’s CPI information was released on October 13. Today had the opportunity to recover some of the up to 5% correction. While LINK is currently easier compared to the last 24 hours, it has lost 8% compared to last week.

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