Last year, MATIC, from the Polygon network, was able to turn a profit, ranking in the top 10 cryptocurrencies by market capitalization.
Polygon (MATIC) was one of the big winners in 2022. Through partnerships with large and world-known companies such as Nike, Adidas, Starbucks, among others, the network was able to grow enormously, and MATIC increased in value partly in early 2022. Compared to other cryptocurrencies, Polygon (MATIC) has gained in the last 12 months.
In recent days, the MATIC course has also gained ground, as the price has risen more than 15 percent. Polygon (MATIC) profited from Bitcoin price, breaking above the $17,000 mark. The price has stabilized again in the last 24 hours.
Can the MATIC Coin be successful in 2023 as well?
The year 2022 was extremely successful for MATIC. Like almost all other cryptocurrencies, the course had to accept losses, a situation that could change in 2023, since the price of Bitcoin, and therefore the prices of Altcoins, could rise again in the next 12 months.
It is important to note that the Polygon network is being used by more and more companies to offer Web3. This should mean that the MATIC price may rise again in the coming months, further considering that the broader market should turn more bullish again.
What is the Forecast (MATIC) for the First Quarter of 2023?
In the last 2 weeks, there has been again a stronger increase in the cryptocurrency prices in the market. Said increases ensured that not only the Bitcoin price but also the Altcoin prices, get closer to the values that existed before the FTX crash. The same also applies to Polygon (MATIC).
If these increases continue, the forecast for Polygon (MATIC) could look positive for the next few weeks. Now, in January, we could already be seeing strong increases that could continue into February as well. There are still plenty of opportunities for one or the other MATIC Rally until the end of March.
How High Can the MATIC Course Climb in the Polygon Forecast?
Over the past few days, there has been an increase in MATIC by over 15 percent, to $0.90. If the Bitcoin price continues to rise, the price of Polygon (MATIC) could rally back above the $1 level. This would also be an excellent level to establish support in the coming weeks.
After forming support at $1, the MATIC price could experience modest rallies again in February and March. However, mild relapses are also possible in the coming weeks and months. The price of the Polygon (MATIC), though, could still increase by 10-20% afterward.
Therefore, a Polygon (MATIC) forecast of $1.05 to $1.25 is assumed by the end of Q1 2023.
Is it Worth Investing in MATIC?
In recent months, a certain amount of hype has been generated around MATIC and the Polygon network. This momentum could make MATIC worth buying in the coming weeks and months. Especially in the coming weeks, there could be a stronger price increase, as the Polygon (MATIC) forecast shows.
It is not certain whether the hype surrounding the network will last. However, among crypto projects, Polygon seems to have a bright future. Thus, an investment could also pay off in the long run.
By Audy Castaneda
