Popular cryptocurrency analyst Benjamin Cowen says the two altcoins could be worth considering if cryptocurrencies enter a long-term bear market. Cowen said that despite the falling markets, Chainlink (LINK) and Binance's native token BNB have increased their strength.

Cowen believes altcoins are “too risky” in current market conditions and that only Bitcoin (BTC) and stablecoins are worth holding until the bearish market changes. However, Cowen adds that there are two cryptocurrencies worth watching.

Macroeconomic developments have had an extremely negative impact on cryptocurrencies. Bitcoin, which acts in harmony with the US stock markets, is dragging all altcoins after it. The Ukrainian tension is not expected to end in the short term. Global tension and food inflation negatively affect all countries. The USA tightened with the official inflation figure of 8.5%, which has reached the peak of the last 40 years. A 50 basis point rate hike in June is considered certain. Considering all these developments, it seems unlikely that Bitcoin will rise in the medium term without decoupling from the stock markets.

Binance Coin BNB

Talking about BNB, the local token of the global crypto exchange Binance, Cowen explained his reasons as follows.

   “I think it's worth following two trends to give you two examples of altcoins. There is BNB/BTC valuation which I think has increased recently. It has also surged after 2018 lows, so I think BNB/BTC value could reach a local top here in the next few weeks. I want to see."

At the time of writing, BNB/BTC was down 20% from its all-time high of 0.012 BTC at 0.0103 BTC ($302).

chainlink

The next altcoin needs to be watched in Ethereum parity. Cowen notes that LINK/ETH performed great in the bear market from mid-2018 to August 2020.

   “There is also the LINK/ETH assessment which is interesting. It performed great against Ethereum in the last bear market.”