• Cryptocurrency analyst, Nicholas Merten, is revising his predictions for Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) in relation to Bitcoin (BTC).
• He believes that altcoins could experience significant corrections of up to 95% in the current market cycle.
• He specifically warns of potential 50% decrease on the ADA/BTC chart, 70-78% decline on the MATIC/BTC chart, and a 90% decline on the LINK/BTC chart from their respective all time highs.
Altcoin Crash Could be Imminent
Cryptocurrency analyst Nicholas Merten has revised his predictions for Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) in relation to Bitcoin (BTC). He believes that altcoins could experience significant corrections of up to 95% in the current market cycle.
Cardano Analysis
Merten issued a warning about a potential 50% decrease on the ADA/BTC chart. Currently priced at approximately 0.00001000 BTC ($0.259), he suggests that ADA could drop to around 0.00000450 BTC ($0.12). To determine whether this prediction will come true, he recommends considering whether or not 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%.
Polygon Analysis
Merten expresses a more cautious view when it comes to Polygon (MATIC). He believes that it could experience a decline of up to 90% against Bitcoin from its all-time highs due to liquidity issues. This would result in MATIC falling towards 1,000 Sats entering territory of a traditional corrective decline ranging from 85% to 90%.
Chainlink Analysis
Turning his attention to Chainlink, Merten points out that it has been underperforming Bitcoin since August 2020 and warns of a potential 90% decline from its peak against Bitcoin if it continues trending downwards.
Conclusion
Altcoin markets have been showing signs of vulnerability recently and investors should take precautionary measures when investing in any cryptocurrency assets as they may be subject to drastic price movements due to volatility in the market conditions.