Benjamin Cowen named a promising token that has not realized its potential this year, and is able to significantly rise in price in the next 12 months
Crypto analyst Benjamin Cowen noted that in 2021 the Chainlink (LINK) token has risen in price by only 60%.
According to the Cowen , LINK has significant growth potential and can be realized as early as next year. According to Cowan’s forecast, over the next 12 months the price of Chainlink may exceed $ 100 (up 400% from current levels).
“I am still very optimistic about Chainlink, but one cannot ignore the fact that this year the altcoin showed worse dynamics than many popular cryptocurrencies,” the analyst said.
Cowan explained that in order to exit the downtrend and return to the rally, Chainlink needs to exceed the $ 27 mark and successfully consolidate above it.
On December 29, the Chainlink token is trading at $ 20.2. Over the month, altcoin fell in price by 18%, and its capitalization fell to $ 9.4 billion.
In May, the cryptocurrency renewed its all-time high above $ 52.7 (an increase of 368% since the beginning of the year). Since then, altcoin has fallen in price by 62%.
Chainlink is the first network of decentralized oracles between blockchains and smart contracts, among its partners is the Swift payment system. Also, the coin is in the portfolio of the Grayscale investment fund.
