• The cryptocurrency analyst is warning of potential corrections of up to 95% in the current market cycle for various altcoins such as Cardano (ADA), Polygon (MATIC), and Chainlink (LINK).
• He has issued a warning about a potential 50% decrease on the ADA/BTC chart, and suggests that MATIC could experience a decline of up to 90% against Bitcoin.
• Lastly, Merten warns of a potential 90% decline from its peak against Bitcoin for Chainlink.
Altcoin Crash Could Be Imminent
A cryptocurrency analyst is revising his predictions for Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) in relation to Bitcoin (BTC) as the altcoin market shows signs of vulnerability. In a recent video update, Nicholas Merten, the host of DataDash warned about the potential for significant corrections of up to 95% in the current market cycle for various altcoins.
Cardano Predictions
Merten issued a warning about a potential 50% decrease on the ADA/BTC chart. Currently priced at approximately 0.00001000 BTC ($0.259), Merten suggests that ADA could drop to around 0.00000450 BTC ($0.12). He suggests considering whether ADA can sustain its trend of higher lows against Bitcoin. If not, he predicts a decline to the range of 500 Satoshis to 450 Satoshis, representing a decrease of over 50% from the current level.
Polygon Predictions
Moving on to Polygon (MATIC), Merten expresses a more cautious view, stating that it could experience a decline of up to 90% against Bitcoin from its all-time highs. He highlights the significance of liquidity and suggests that a lack thereof could lead to a correction of around 70% to 78% down to approximately 1,450 Sats. He further mentions the possibility of MATIC falling towards 1,000 Sats, entering the territory of traditional corrective declines ranging from 85%-90%.
Chainlink Predictions
Lastly Merten turns his attention to Chainlink, which is decentralized oracle service provider.. He points out that Chainlink has been underperforming Bitcoin since August 2020 and warns of a potential 90% decline from its peak against Bitcoin if it continues trend downwards..
Conclusion
Altcoins have seen tremendous growth over recent months but given their volatile nature there is always risk involved with investing in them. Cryptocurrency analyst Nicholas Merton is giving investors fair warning regarding possible corrections Cardano(ADA), Polygon(MATIC) and ChainLink(LINK). It remains important for investors weigh their options before making any investment decision with regards these tokens or any other token in general