One crypto analyst is updating his outlook on Cardano (ADA), Polygon (MATIC) and Chainlink (LINK) against Bitcoin (BTC) as the altcoin market flashes weakness.
In a new video update, DataDash host Nicholas Merten warns his 511,000 YouTube subscribers that many altcoin projects could see as much as a 95% correction in the current cycle from their all-time highs.
“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 the all-time highs. So don’t doubt that history could repeat itself.”
Looking at smart contract platform Cardano against Bitcoin, Merten warns of a potential 50% decline on the ADA/BTC chart from its current price level of about 0.00001000 BTC ($0.259) to about 0.00000450 BTC ($0.12).
“If stablecoin liquidity isn’t there and if optimism isn’t there and regulatory concerns are growing ADA is
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