Polygon (MATIC) was one of the year’s biggest winners in 2022. In comparison to many other coins, the Polygon network’s Matic coin was able to make money and move up into the top ten cryptocurrencies by market capitalization. What is Polygon price prediction for 2023? Can Polygon price hit $5 in 2023? Let’s take a look at it in more detail.
How has the MATIC price changed in recent days?
Polygon had a very successful year in 2022. The network was able to expand massively thanks to innumerable cooperation and collaboration with large and globally recognized companies (Nike, Adidas, Starbucks, and so on), and the Matic Coin’s figure rose in part at the outset of 2022. Polygon (MATIC) has outperformed other cryptocurrencies in the last year.
In recent days, the MATIC price has gone up. The price has also enhanced by more than 29% in the last seven days. Polygon (MATIC) benefitted greatly from the Bitcoin price breaking above $17,000. In the last 24 hours, the price has stabilized once more. At the time of writing this, the MATIC price is trading at $1.02.
Polygon Price Prediction: Will the MATIC Price reach $5 by 2023?
The Matic Coin had an extremely successful year in 2022. Yet, the price, like just about all other cryptocurrencies, had to recognize the economic loss. That may change in 2023, as the price of Bitcoin, and thus the prices of Altcoins may increase again in the next 12 months.
It is worth noting that the Polygon network is being used by an increasing number of businesses to establish Web3 functions. Because of the industry’s overwhelming support, the MATIC price should rise again in the coming months. Furthermore, the market should resume its bullish trend. We are assuming that MATIC price could be between $2-$5 for the end of 2023.
What is the Polygon (MATIC) prediction for 2023’s first quarter?
— Polygon (@0xPolygon)
We have witnessed a stronger increase in cryptocurrency prices on the market in the last two weeks. These rises ensured that not only the Bitcoin price but also the prices of the Altcoins are nearing pre-FTX levels. Of course, the same is true for Polygon (MATIC).
If these gains continue, the Polygon (MATIC) forecast may look promising in the coming weeks. We may already be seeing significant increases in January, which may continue into February. Until the end of March, there are still plenty of opportunities for one or two Matic rallies.
So, in the last few days, Matic has risen more than 29% to as high as $1.02. If the price of Bitcoin continues to rise, Polygon (MATIC) may re-enter the $2 range. This level would also be ideal for establishing support in the coming weeks.
Following the formation of support at $2, the MATIC price could see modest rallies in February and March. However, minor setbacks are possible in the coming weeks and months. Nonetheless, the Polygon (MATIC) price could rise by 10-20% in the following months. We, therefore, assume a Polygon (MATIC) forecast of $1.05 to $1.25 for the end of the first quarter of 2023.
Is an investment in the Matic Coin worthwhile?
In recent months, there has been a lot of buzz surrounding the Matic Coin and the Polygon network. This momentum may make it worthwhile to purchase the Matic Coin in the coming weeks and months. Our Polygon (MATIC) forecast indicates that prices may rise more rapidly in the coming weeks.
It’s difficult to say whether the network’s hype will last. Polygon, on the other hand, appears to have a promising future among crypto projects. An investment may thus be worthwhile in the long run.
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