The Polygon (MATIC) price was one of the biggest gainers in the first 2 months of 2023. Not only was the price able to rise in January as some other coins did, but it also saw strong gains in the first half of February. How high can MATIC price reach by the end of 2023? Well, an AI bot placed its bet…let’s talk about it.
How did Polygon (MATIC) price perform recently?
Over the past few weeks, the Polygon (MATIC) price has seen massive gains. At the turn of the year, the rate was still US$ 0.75. In the first few days of the year, the price only went sideways. But in the following days, the MATIC course was able to record massive gains and had already risen to $1.17 by the end of the month.
The rise continued in February, while other coins were already beginning to move sideways. In mid-February, the Polygon (MATIC) price reached $1.54. Since that peak, however, we have seen a clear downtrend that brought the price back down to $1.17. Among the major cryptocurrencies, MATIC has seen one of the strongest percentage gains.
How high can the Polygon (MATIC) price go in 2023?
In the coming months, nothing stands in the way of a further significant increase in the Polygon (MATIC) price. On the one hand, the crypto market in general would have to rise, which depends on the price development of Bitcoin.
The end of interest rate hikes by the central banks may suggest a scenario that should boost the Bitcoin price. Furthermore, the last bear market, especially the year 2019, shows that massive increases are possible in the medium term.
Furthermore, we have to recognize that Polygon (MATIC) as a project has probably the biggest hype on the market at the moment. High scalability and efficiency, being based on the Ethereum blockchain and massive support from internationally well-known brands are currently making Polygon the new “Network for Web3”. A lot of money is currently flowing into the project, which favors massive price increases.
How High can MATIC price reach?
According to an AI bot developed to predict future crypto prices, a price of $3 would be a new all-time high for Polygon (MATIC) this year. A lot would have to come together on the market for this to happen. First of all, we need to see a stronger Bitcoin surge, possibly back towards $50,000. This increase should encourage many altcoins to make stronger increases.
In addition, the hype surrounding the network would have to remain and new companies would have to announce further cooperations with Polygon. In this case, it does not seem impossible that the Polygon (MATIC) price could rise to $3 in 2023. However, we need to see stronger gains in April for this prediction to be confirmed.
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Source: https://cryptoticker.io/en/an-ai-bot-predicted-polygon-matic-price-by-the-end-of-2023/