The bears have yet again regained control over the crypto market, causing the major assets to bleed.
A crypto strategist and trader, Altcoin Sherpa, who is well-known for his accurate altcoin predictions, predicts a correction phase for Bitcoin (BTC) and Chainlink (LINK).
Bitcoin (BTC) Price Analysis
The strategist informs his 181,900 followers over Twitter that after Bitcoin’s recent drop from $21,800 to below $20,000, the future does not appear bright for the asset.
As per the analyst, Bitcoin will not touch the $23,000 range anytime soon and will also lose the $19,000 area to finally trade at $17,000.
At the time of publication, Bitcoin is changing hands at $19,810, after a pullback of 1.07% over the years.
Chainlink (LINK) Price Analysis
The next currency under the analyst’s radar is Chainlink (LINK). The trader claims that if the first two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), face another downward movement, LINK will shed more than 30%.
The analyst also claims that this might be either an accumulation or a break before the next downfall. Also, all the altcoins’ movement will depend on BTC/ETH. Hence, Chainlink might decline towards the $4.50 level.
Currently, Chainlink is trading at $6.36 after a drop of 2.28% over the last 24hrs.
Ethereum (ETH) Price Analysis
Altcoin Sherpa also discussed the ETH price.
According to the strategist, $1,800 plays an important price area for the lead altcoin.
At the time of writing, Ethereum has plunged by 2.51% over the last 24hrs and is trading at $1,448