This Is The Ideal Scenario For Chainlink (LINK), Analyst Says | CryptoGazette
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It’s been just revealed that the crypto analyst Benjamin Cowen addressed the best scenario for Chainlink (LINK). Check out the latest reports below.
The crypto market seems to be suffering a new correction these days, and the most important digital assets are trading in the red.
The trader said that LINK remains below its bull market support band, a technical indicator combining the 20-week simple moving average and the 21-week exponential moving average.
Cowen also notes that LINK has been putting in lower highs since May of 2021. Check out what he had to say below:
“We are nearing the bottom of the range. We are trying to potentially get back above the prior high from the summer of 2020… We do have some work cut out for us. I’m not going to pretend like we don’t.”
Chainlink is trading at $15.71 at the time of writing. The 22nd-ranked crypto asset by market cap is down 10% in the past 24 hours but up more than 9% from where it was priced one week ago.
Bitcoin bullish prediction is out
There are also all kinds of optimistic predicitons about the price of BTC these days despite the multiple corrections.
It’s been just revealed that the on-chain analyst Willy Woo said that Bitcoin (BTC) could increase its market cap by more than 20 times from current levels in the next decade. Check out more details about all this below.
In a new interview, the on-chain analyst said that Bitcoin could reach a market cap of nearly $20 trillion within 10 to 20 years.
“I think it [Bitcoin’s market cap] will be more. Maybe close to $20 trillion.”
Bitcoin is trading for $42,396 at the time of writing and the market cap of the king coin.
Woo also made sure to highlight the fact that whether Bitcoin realizes a multi-trillion market cap will be determined by how the regulatory landscape pans out.
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