MATIC price forecast: Is it worth buying MATIC before the Polygon Summit?

Polygon (MATIC) extended its correction from the record highs. Should I invest in June?

Polygon MATIC/USD is a scaling solution that offers multiple tools that enable the optimization of speed as well as the reduction of costs when it comes to complex transactions on blockchain networks.

It was developed in 2017 and was originally known as the Matic Network.

The Polygon Summit as a catalyst for growth

On December 2, Polygon announced the countdown to the Polygon zk day. This is their Summit that will occur on December 9.

Polygon also dropped a tease, where a major announcement is expected after the panel begins. 

That said, most of these hyped announcements in crypto have historically increased the value of the token behind the blockchain in question. 

As such, this Summit, or at least the point in time before it goes live, has the potential to increase the value of the MATIC token.

On December 8, we covered where you can buy MATIC as it continued with its relentless bull run.

Additionally, if this announcement does not disappoint, the MATIC token could quickly jump up in value. Vitalik Buterin will also attend the Summit, and there is speculation that Uniswap might integrate with Polygon.

Should you buy Polygon (MATIC)?

On December 9, Polygon (MATIC) had a value of $2.30.

To see what this value point means for the MATIC token, we will compare it to its all-time high value as well as its performance last month.

The all-time high-value point of the MATIC token was on May 18, when it reached a value of $2.62. Here, we can see that at its ATH value point, the MATIC token was $0.32 higher in value or by 13% when compared to its value on December 9.

When we go over the token’s performance throughout the month of November, here is what we can see.

On November 3, the MATIC token had its highest value point of the month with a value of $2.11.

Its lowest point of value was on November 18, when the token fell to a value of $1.47.

This gives us an indication that from November 3 to November 18, the token fell by $0.64 in value or by 30%.

However, from November 18 to December 9, the MATIC token raised its value to $2.30, which is a growth of $0.83 or by 56%.

With this in mind, we can expect the MATIC token to reach a value of $2.50 by the end of December, making it a solid buy.

The post MATIC price forecast: Is it worth buying MATIC before the Polygon Summit? appeared first on Invezz.

Publication date: 
12/09/2021 - 12:21
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.