Should I Buy? why chainlink will failWhat is Chainlink Crypto?

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Im like look at this drawdown and  from the all-time high I mean it   went down 88 almost against Bitcoin  it is still down 78 against Bitcoin   from its all-time high so I mean you  havent really missed out on anything   at this point what Im looking for  with link over the next few months hey welcome back everybody to altcoin daily today  were talking about a blue chip cryptocurrency   which historically has outperformed in Bitcoin  bear markets of course were talking about chain   link a decentralized blockchain Oracle Network  built on ethereum the network is intended to be   used to facilitate the transfer of tamper-proof  data from off-chain sources to on-chain Smart   contracts and of course while it is built on  ethereum it is blockchain agnostic so it can   connect with any of them chainlink has connected  with in fact over 1 500 different projects from   crypto to startups to large Enterprises that use  chain links decentralized oracles to securely   connect smart contracts with off-chain data  and services and then of course within the   chain link project theres different products  different services that chain link offers one   supporting decentralized data feeds two providing  verifiable sources of Randomness three enabling   Automation and for supporting cross blockchain  interoperability today my friends we are joined   with none other than the Benjamin Cowan into the  cryptoverse been talking about chain link since   the very beginning and he has a lot of information  to share with us today Benjamin Cowan how are you   doing today pretty good its a pleasure to be  back here I always like like coming on here and   talking about crypto with you definitely now if  you subscribe to my channel Benjamin I know you   do and I subscribe to yours you know that chain  link besides connecting with ethereum and Solana   and Phantom and all that stuff besides you know  being the blockchain Oracle service for Gemini   for Kraken for binance for coinbase besides that  chain link of course has been integrated by Swift   that was a big one big one the global provider of  secure Financial Services everybody you know the   ethereum people wanted it to happen with them  the Bitcoin people wanted Bitcoin to basically   be uh you know obsolete Swift well Swift is  still around its still the blue chip in you   know Legacy Traditional and its amazing that they  integrated chain link thats what excites me about   the project including you know the Associated  Press Amazon web service it seems like theres   no other game in town but my question for you  Ben before we get into the charts is what x   excites you most about chain link why have you  even talking about it since you know the beginning   for me I think chain link sort of acts as a  a backbone for a lot of cryptocurrencies I I   would argue that its sort of integrated itself  uh into into so many different projects over the   years I mean as you mentioned I dont know the  exact number like you do but uh Ive weve seen   over the years how just how many cryptocurrency  projects has sort of integrated itself into and   I would argue that it provides a a very valuable  service and providing like real-time feeds   um via the blockchain one of the reasons why I  think it hasnt done as well recently obviously   is not necessarily because chain link isnt a  great project its more so just because of the   overall Market risk and the fact that we are  in fact in a bear Market but I do think the   fundamentals of link I actually have a whole video  on my channel called like what is chain link where   I go through it uh but I think the fundamentals of  chain link shine through a bit better in the bear   market then they sometimes do in the bull market  if that if that makes sense definitely I mean   theres you know theres price and then theres  value and sometimes the two do not correlate and   you know you want to look in the bear market for  these projects that have a lot of value so lets   jump into the charts Benjamin I want to know is  chain link undervalued hit the like button if   you appreciate having Benjamin on Benjamin I can  see your screen okay so I just want to show you   a few charts here uh the first one is just link  USD and I would argue that were potentially at   a very similar phase that we were at sort of in  the middle of 2018 uh but one of the things that   I always found really interesting with chain link  is that and I know you are very familiar with what   happened with crypto at the very end of 2018 right  we saw the floor collapse right um but what was   interesting with link is that it actually did not  put in a lower low sort of the load that it put   in was actually in the summer of 2018 and that  was something that that really got my attention   back then I mean I I did hold link I I did hold  some in 2018 I think the earliest I bought any   um was was it was before I know it was before the  final crash in 2018. I remember that for sure but   it sort of grabbed my attention that hey this  is a this is going to be a good project if at   the end of the bear Market the end of the the  capitulation that set Bitcoin down 50 and a lot   of altcoins down 80 percent link was still  able to hold its prior low um and and then   ever since then it you know it went through this  crazy bull market and and it peaked out in May   of 2021 which arguably the entire crypto asset  class arguably has been in a bear Market really   since mid-2021 and we sort of leveraged our way  up to uh up to the November Peak but one of the   interesting things is that you know one could make  the argument that were were sort of at a similar   phase right now on the link USD chart that we were  kind of over here and what youll notice is that   link actually had a had a bit of a pop you know  right before we had another another leg down in   the overall crypto Market what Im looking for  with link over the next few months uh because I   mean this year Ive actually been relatively light  on my altcoin stack but of course I dont want to   stay light on my altcoin stack forever because  I do think that you know cryptocurrency is much   more than just Bitcoin I do think it were going  to have lots of cryptocurrencies in the future   um one of the things Im looking for is how well  does link hold up if we do get you know some some   more fear closer to the end of the year with the  FED continuing to raise interest rates and how   does it hold up against Bitcoin because heres  the really interesting thing if you look at the   link USD chart and youll see that it was sort  of just an accumulation phase or say the second   half of 2018. if you look at the link Bitcoin  chart Ive had this chart like literally on my   link Bitcoin tab for for a long time now youll  notice that it was already in an uptrend against   Bitcoin throughout 2018 and then really built  into this uh you know manic bull market that   link link Bitcoin actually topped during the D5  summer of 2020 I mean that was a great summer   for a lot of D5 projects and you can see that it  actually peaked right there but whats interesting   is how since then weve just sort of gone through  the same bubble pop scenario that weve seen time   and time again but this ones on the link Bitcoin  pair and noticeably I would argue that this here   could be the despair phase right sort of that  despair phase that weve seen happen in a lot   of these crypto assets before in the past but just  I I would argue that this is is somewhat similar   and what Im looking look what Im looking  towards is as we as we continue to navigate   um you know whether were whether were whether  the bear Market is over or not or whether we have   another leg down only time will tell but what  happens over the next three to six months can   link USD sort of hold around these levels even  if crypto has another leg down and if it does   is link Bitcoin sort of just getting back onto it  its mean right like its sort of the the average   path that its been on I think thats sort of  whats what link USD and Link Bitcoin are in the   process of doing link Bitcoin is sort of trying  to reclaim the the path that it was once on and   I think as we get on this path um and as crypto  eventually the crypto winter will fall and as that   falls and I think you really could be looking  at you know at a relatively undervalued asset   um of course in the short term who really knows  because I mean if equities get another leg down in   the next three to six months Im sure itll have  an effect on crypto but I do think these are some   really interesting charts to be looking at uh with  respect to to Link and Link USD and Link Bitcoin   so what I hear you saying is chain link might be  undervalued but not necessarily there might be   a lower low I think right now I think the uh so  I I right but I think about it in terms of like   the idiosyncratic risk and the market risk so the  idiosyncratic risk is just based on what link is   doing and then the market risk is based on like  what everything else is doing right like Bitcoin   ethereum like what is everything else doing I  think link is is looking relatively strong okay   so I think it looks strong against Bitcoin I  think its looking strong against ethereum and   I would say you could I think you could make the  case that it is undervalued against Bitcoin right   now I think you could probably make the case that  it is undervalued I mean look at this I mean like   look at this drawdown and from the all-time high I  mean it went down 88 almost against Bitcoin it is   still down 78 against Bitcoin from its all-time  high so I mean you havent really missed out on   anything at this point but I think its probably  undervalued against Bitcoin if we take a look at   the link ether chart you could also argue that  its going through a similar phase like it did   sort of in the middle of 2018 right where it  it kind of puts in these lows and then it gets   it recovers a little bit but even though link  eth was going up during this phase link USD was   still struggling a bit right until until the  bear Market was actually over but I think to   answer your question bluntly I I think it probably  is undervalued against Bitcoin and ethereum the   only sort of question in the air is is can it go  lower against the US dollar and obviously thats   going to be dependent on the overall Market risk  and and not really anything related to chain link   now a catalyst that not many people are talking  about because its still kind of in the beginning   is that chain link is moving to proof of stake  this December theyre offering Early Access   if you meet certain requirements that you can  start staking your chain link and pretty soon   thatll be open to everybody and you know kind  of the thought is that that just like ethereum   staking the link will be good for supply and  demand and will make it have better tokenomics   um any thoughts I mean I think look this is  this is I mean them going to prove mistake   has been something weve been waiting for  forever I mean I I its hard to imagine its   still 2022 and it hasnt happened I said the  same thing about ethereum you know for years   uh but yeah I I think ultimately its a good  thing I mean I also think its a good thing   for ethereum as well uh I I think it it is a good  transition for for link to make the whole idea of   of locking your tokens up and earning interest  uh I do think makes a lot of sense and I think   a lot of crypto investors have hopefully learned  their lessons from from um two high yields right   over the last year in in certain projects so  yeah I think its a good thing going forward   um and I mean I I do think thats probably one of  the reasons why you are starting to see some of   the relative strength against Bitcoin and ethereum  I mean like you know the the the narrative for for   ethereums evaluation right at least in the short  term has been spent right like the merge okay so   now we have to wait a while for a new narrative  to pop up but links still are arguably has uh   some strong narratives coming up here over the  next several months so yeah I do think its a   good thing and well probably contribute to link  staying somewhat strong against the uh the Blue   Chip cryptos so I dont want to put words in your  mouth Benjamin but it sounds to me like youre   still bullish on chain like just as bullish as you  were back in the day and it served you pretty well   are you just as bullish and how bullish are you  yeah I mean long term Im definitely bullish uh   I do think I wish it would have performed  a bit better at the end of the bear Market   uh you know to keep up with some of the  other cryptos but thats just how it is   um I am actually I think one of the lessons I  learned with chain link about being bullish is   that I Im gonna stay Ill stay bullish on it once  the uh once Im more convinced the bear Market is   over but I also dont want to let it go too far  so like link Bitcoins run was over before Bitcoin   ran itself so I have to remember that right  like once Bitcoin starts running in the future   Links probably going to take the uh a back  seat for a while but listen 2019 link did   really really well after the bear market and  if if history repeats every four years or so I   mean were coming up on 2023 I am I I would say  I am bullish on on the link Bitcoin valuation   and the link ether valuation with them getting  to you know back to what their normal sense is   uh again you know I know you want to impress me  on the link USD like you know how bullish am I   um my main question right now is just recessionary  concerns and and and fed Federal Reserve concerns   raising interest rates into a into a slowing  economy I dont really know exactly how hard   thats going to hit projects like chain link so  again I think against the US dollar its probably   um 50 50 on on what it does but I think again its  Bitcoin and Eve you could you could easily make   the case that you should be bullish whoa Benjamin  so youre telling me that the inflation currency   devaluation the FED tightening the equity indices  breaking their June lows the comparisons between   the financial 2008 financial crisis the s  p closing three red quarters in a row the   sovereign debt crisis OPEC cutting oil production  Putin Waging War against the westers telling me   all that these macro conditions are making you a  tad bit you know tepid about the next year yeah   just just a little bit you know I mean like like  maybe link doesnt hold up always the best under   those conditions uh but well see well see I mean  the thing is eventually we will come out of it and   um and thats why Im drawing the distinction  between like link Bitcoin and Link USD and   Link Eve because its all about like relative  performance right like uh its all about relative   performance and I do think link is probably  starting to finally look strong against some   of the blue chip counterpoints but yeah I mean  against the US dollar man if if the s p goes   through a final capitulation or something like  weve seen in Prior I mean look the last 10 years   has been pretty fun for financial markets right  like just money printing Galore uh but if if we   see something like you know what we saw in 2000 or  2008 uh or even going back even further then yeah   I mean were were likely in some pain for a while  on all USD evaluations of of most risk assets   I feel it Benjamin thank you so much for  jumping on the channel today and updating   us on chain link this is why I subscribe to you  I encourage our audience to go subscribe to you   give us some final Alpha for our audience  Benjamin some final Alpha um well the the   only thing I I mean a lot of things I talk  about on my Channel right now are are how   the Bitcoin dominance should go much higher  but while I say that theres always a few   altcoins that outperform Bitcoin even when the  dominance is going higher and and if history is   an indication uh at the end of a bear market and  in an accumulation phase before next bull market   chain link is is a is a reasonable place to  look but again uh one one last thing if you   guys are watching from my channel make sure  you subscribe to all coin daily as well I mean   theyve been putting out videos for a long time  and uh always have a lot of great discussions   classy move Benjamin thank you  so much man thanks for having me What is Chainlink? LINK price prediction? Is Chainlink crypto undervalued into 2023?Nuclear Engineer PhD & Crypto Data Analyst @intothecryptoverse joins us to talk Chainlink. Follow Ben on YouTube: Follow Ben on Twitter: Bens Website: Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: Timestamps: 0:00 - What is Chainlink? Why is it a ‘blue chip’? 1:26 - Who is our guest? 1:52 - Chainlinks MOST NOTABLE partnerships 2:39 - What excites Ben most about LINK? Why he is a holder? 4:06 - Is Chainlink undervalued? 10:06 - Chainlink moving the Proof-of-Stake 11:49 - Are you still just as bullish on Chainlink? 14:58 - Ben offers his best ‘alpha’ to our audience **Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. 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