Popular crypto strategist and trader Benjamin Cowen is looking at the state of Chainlink (LINK) to see whether the decentralized oracle network is ready to ignite its uptrend.
In a new strategy session, Cowen tells his 685,000 YouTube subscribers that Chainlink is the “light” when the crypto markets are bearish.
According to Cowen, Chainlink’s performance is inversely correlated to the price action of Bitcoin (BTC).
“One of the things that we asked ourselves back in 2019 and 2020 was that we know LINK does well when Bitcoin is bearish and when Bitcoin is going sideways. But we do not know what LINK will do when Bitcoin is bullish. We now have the question answered. If we didn’t know before, all questions are put aside now.