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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.

He said, We can take it back here, look at a whole range of different plays here in the market, and you will see similar patterns here altcoins typically correct. Even Ethereum in the last bear market in 2018 corrected over 95% from all-time highs. So dont doubt that history could repeat itself.

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.

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 a traditional corrective decline ranging from 85% to 90%.

Also Read: Altcoin Crash Might Get Worse: Analyst Predicts More Bloodbath in Crypto Market

Lastly, Merten turns his attention to Chainlink, a decentralized oracle service. 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 to trend downwards. He specifically mentions the possibility of Chainlink dropping to 1,700 Sats, representing a substantial decline from its previous peak.

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Altcoin Crash Could Be Imminent: Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) In Danger - Coinpedia Fintech News