The Potential Rise of Polygon (MATIC) in the Next Bull Market
A trader renowned for accurate predictions suggests that Polygon (MATIC) could experience significant growth in the upcoming bull market cycle.
Pseudonymous analyst Dave the Wave shares insights with his 142,700 followers on the social media platform X, indicating that Polygon’s layer-2 scaling solution might undergo a notable uptrend against Bitcoin (MATIC/BTC).
According to Dave the Wave, if MATIC achieves a 3x against BTC, and BTC achieves a 5x against USD (US dollar), the potential gains for MATIC could be substantial. “If MATIC did a 3x against BTC, and BTC did a 5x against USD (US dollar)… you do the math.”
Examining the chart, the trader proposes that MATIC will follow a similar pattern against BTC, potentially increasing by approximately 200% from its current value to around 0.0000618 BTC ($2.25).
MATIC/BTC is currently trading at 0.0000220 BTC ($0.77) at the time of writing.
Bitcoin’s Long-Term Market Analysis
Dave the Wave also shares insights on Bitcoin, highlighting that the one-year moving average of the king crypto indicates the accuracy of the logarithmic growth curve (LGC) as a 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.”
As of the latest data, BTC is valued at $35,278.