Traders worry Bitcoin's current correction means it will take a long time for the price to rebound. BTC has been dealt several blows, from Tesla CEO Elon Musk saying his company wouldn't accept BTC payments anymore and the Chinese government's crackdown on mining the cryptocurrency. The worst problem, however, it that the general public is losing faith in Bitcoin's value. Its scarcity alone is not enough anymore to raise Bitcoin's price enough to keep investors interested.

Investors are looking seriously at MATIC now. The Ethereum token is native to the Polygon Network. Polygon helps developers create sidechains for the Ethereum blockchain or their own stand-alone network. MATIC's rapid and inexpensive transactions on Layer 2 sidechains of Ethereum make it particularly attractive. Nevertheless, the altcoin's price is on a steady downward slope, but bulls want to create a relief rally. Chain's native coin, CRO, is another altcoin on a downward slope. Chain is a blockchain network that facilitates businesses accepting cryptocurrency payments. It offers a secure solution with its Wallet App. Companies can get their money instantly in CRO, fiat or stable coins. The company has a Visa card and users can earn interest on their crypto assets. There are over 10 million users in 90 countries.

Typically, altcoins that are innovative and offer unique solutions with long-term objectives do well. Their price depends on user demand, how useful the coin is and its scarcity. Based in these criteria, MATIC and CRO should rally, but there are never any guarantees. Unfortunately, Bitcoin's usability is in question as the public can see it as a payment method for paying ransomware or buying something on the dark web. It does not have the same usability as MATIC or CRO either, but it is widely accepted and well known, which should give it an advantage over its competitors.