A trader known for making a series of accurate calls says that Polygon (MATIC) could soar during the next bull market cycle.
Pseudonymous analyst Dave the Wave tells his 142,700 followers on social media platform X that the layer-2 scaling solution Polygon is likely going to enter a significant uptrend against Bitcoin (MATIC/BTC).
“If MATIC did a 3x against BTC, and BTC did a 5x against USD (US dollar)… you do the math.”
Looking at his chart, the trader suggests MATIC will repeat a similar pattern against BTC and increase by about 200% from its current value to around 0.0000618 BTC ($2.25).
MATIC/BTC is trading for 0.0000220 BTC ($0.77) at time of writing.
The trader also weighs in on Bitcoin, and he says that the king crypto’s one-year moving average is showing how the logarithmic growth curve (LGC) is an accurate predictor of BTC’s broader price pattern.
The analyst’s version of an LGC aims to plot the highs and lows of Bitcoin’s long-term market cycles while filtering out short-term volatility and noise.
“The BTC one year moving average corroborating the LGC…
Indeed, this is arguably the best single metric we have for something to identify ‘bull market support’ … with shorter-term metrics crossing the price to both sides too often.”
BTC is worth $35,278 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Analyst Who Called 2021 Collapse Forecasts Potentially Massive Polygon (MATIC) Gains During Bull Market appeared first on The Daily Hodl.