Analyst Updates Outlook on Chainlink, Predicts Altcoins To Crash by Up to 50% if Bitcoin Falls Below This Number

A popular crypto trader says Chainlink (LINK) is less volatile than other altcoins and could be a safer investment in the coming days.

Pseudonym Trader Altcoin Sherpa To tell The altcoins of his 192,300 Twitter followers could drop as much as 50% if Bitcoin (BTC) falls below the $21,000 level.

“Breaking this current low of $23,000 could lead to a plunge to $21,000, potentially down 30% to 50% from current levels. IMO. [in my opinion]I’m happy to buy some strong ones at the time to rebalance my active trading positions. I plan to cut some of them in the next few days. ”

crypto trader To tell It remains unclear if Bitcoin will maintain the $23,000 range, but it plans to profit from its altcoin holdings in case it does.

“This current move is meant to be risk averse. I don’t know if this BTC low will hold if tested again, but if that’s what it takes, I would like to push these altcoins higher. It’s never a bad thing to be profitable and I don’t know if we’re really in up-only mode right now.”

trader To tell Chainlink did not perform as strongly as other altcoins during the rally earlier in the year, but they say it means Link will likely hold up better if the market starts to fall. increase.

Link: Coins like this have performed worse than many other altcoins, but are usually safer than the same altcoins in volatile market conditions. It’s actually a pretty decent coin (compared to some already pumped alternatives). ”

Source: Altcoin Sherpa/Twitter

Chainlink is worth $7.95 at the time of writing.

former trader Said Bitcoin could drop up to 15%.

“Kindly remind that BTC can still be ‘okay’ after a 15% drop or so in these types of uptrends. I don’t think Alt, on the other hand, gets rekt. ”

he I got it Historically, Bitcoin has experienced rises and falls of around 15% to 20%.

“BTC: One thing to note is that high volatility does not necessarily mean ‘done’. Prices are still down 15%-20% from local highs and may consolidate/up. There are many such cases in the past (especially in 2019) where this has happened. ”

Source: Altcoin Sherpa/Twitter

If Bitcoin Drops To $21,000, Crypto Traders Will To tell They continue to predict that Kingcrypt will eventually reach the $30,000 range.

“When people start yelling that $21,000 is the end of it, maybe they’re right. Or maybe it’s just being consolidated before another run-up. I still believe it will end up at $30,000.”

Bitcoin is trading at $23,681 at the time of writing.

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