The bears have once more taken control of the cryptocurrency market, which has resulted in significant losses for the major assets.

Altcoin Sherpa, a cryptocurrency analyst and trader who is well-known for his accurate altcoin predictions, forecasts that Bitcoin (BTC) and Chainlink will go through a correction period in the near future (LINK).

Analysis of the Price of Bitcoin (BTC)

Following Bitcoin's recent decline from $21,800 to below $20,000, the strategist advises the 181,900 people who follow him on Twitter that the asset's future does not appear to be in a good position to be successful. According to the forecast of the industry analyst, the price of bitcoin will not approach the $23,000–$23,000 range anytime soon, and it will also fall below the $19,000–$19,000 range before settling at $17,000.

After experiencing a decline of 1.07% over the course of the years, Bitcoin's price is currently trading at $19,810 at the time of publication.

Chainlink (LINK) Price Analysis

The following currency that is being monitored by the analyst is Chainlink (LINK). The trader believes that LINK will lose more than thirty percent of its value in the event that the top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), experience another downward swing. In addition to this, the analyst suggests that this might either be a period of accumulation or a pause before the subsequent decline. Additionally, the movement of all alternative cryptocurrencies will be dependent on BTC and ETH. As a result, Chainlink's price may fall to around $4.50.

After suffering a loss of 2.28% over the course of the previous twenty-four hours, Chainlink is currently trading at a price of $6.36.

Analysis of the Price of Ethereum (ETH)

The price of ETH was another topic that Altcoin Sherpa covered.

The price area of $1,800 is considered to be significant for the leading alternative coin, as stated by the analyst.[rb_related title="More Read" style="light" total="4"]

At the time of this writing, the price of Ethereum has decreased by 2.51% over the course of the