Benjamin Cowen Is Bullish On Chainlink Due To Its Reach In Smart Contracts

According to a leading crypto analyst and trader, Benjamin Cowen, Chainlink (LINK) is ready to move up to higher levels, regardless of its sluggish performance in the past year.

Cowen discussed his bullish projection for LINK with James, from InvestAnswers and Rob from Digital Assets News. The analyst said:

“This is the oracle that has its fingers in every single pot… LINK/ETH, under the 0.008 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 the former CEO of Google being on there, nothing but bullish times ahead for Chainlink.”

Last December, ex-Google CEO Eric Schmidt joined Chainlink as an advisor, according to an official announcement from the project.

Cowen admits that the LINK’s tokenomics are not perfect, but also notes that its ecosystem reach in smart contracts sets it apart from the rest.

“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 trading at $25.35 trading sideways within the last 24 hours.

Cowen also shares his insights on Ethereum (ETH) for the next year and a half. Any of Ethereum’s rivals are unlikely to gain any sizable advantage on ETH, and that the leading smart contract platform will continue to lead in its space, the analyst projects.

“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.”