A Crypto Strategist Issues Warnings for Bitcoin and Chainlink
A crypto strategist renowned for making accurate bets on altcoins warns that Bitcoin (BTC) and Chainlink will soon see price adjustments.
Friday’s retracement of Bitcoin from about $21,800 to below $20,000, as reported by the pseudonymous analyst Altcoin Sherpa to his 181,900 Twitter followers, has Bitcoin exhibiting a sluggish appearance.
“It appears to be the next logical jumping off point is 19k. Price lacked the strength to reach $23,000 before falling further. Price remains variable. I do think that $17,000 will ultimately arrive.”
Chainlink is the next decentralized oracle network. According to Altcoin Sherpa, LINK might lose more than 30 percent of its value if Bitcoin and Ethereum (ETH) see another corrective move.
This has ranged over the last three months. Still uncertain as to whether this is an accumulation or just a lull before another collapse. As with other cryptocurrencies, it will rely on the BTC/ETH exchange rate; if they break down, the price will be about $4.50.”
The crypto strategist is also monitoring Ethereum’s price behaviour. Ethereum may regain its positive momentum, according to Altcoin Sherpa, as long as it remains above the crucial monthly milestone of $1,460.
“ETH: These monthly values continue to hold globally. Still anticipating price increases in the near future. I believe that $1,800 is a crucial threshold.”