Bitcoin, Chainlink and Dogecoin – European Wrap 21 January [Video]

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Chainlink price has seen a massive collapse over the past five days, resulting in a retest of a crucial barrier. This downswing is not localized to the crypto markets and seems to originate on Wall Street after the Fed tightens the interest rates. This development has caused a massive blow to not just tech stocks but also stay-at-home stocks like Netflix, Peloton, Zoom Video Communications and so on. Due to the overall bearish nature of the markets, a breakdown of the immediate support level could be the key to triggering another leg down for LINK.


LINK/USDT 1-day chart

The host of Mad Money, a CNBC show, issued a warning to Dogecoin holders. Cramer believes that Dogecoin is a security and it will be regulated soon. Analysts believe that the Dogecoin price could start an uptrend.