Over the past 12 months, Polygon’s Matic Coin has been one of the winners. Although the coin lost value overall, it was able to gain massively in the crypto market and climbed into the top 10 cryptocurrencies by market capitalization. Can the momentum continue in 2023 and what are the Polygone (MATIC) forecasts for the next 12 months?
In this article, we want to do our big Polygon (MATIC) prediction for the year 2023 and see how high the Matic coin will be in the next 12 months.
How has the MATIC course evolved over the past year?
Over the past 12 months, MATIC price has seen a bigger overall loss. However, we must differentiate. Unlike other coins, Polygon (MATIC) was even able to rise in early 2022. In the months that followed, Polygon performed well against other cryptocurrencies.
Nevertheless, the losses were particularly heavy in the first half of 2022. It went below $0.35 from $2.50. In mid-June, however, the direction of the course changed. By mid-August, the rate had risen above $1 again. In the weeks that followed, we saw a significant stabilization.
At the end of October and beginning of November, there was movement again in the MATIC course. An altcoin rally pushed the price to $1.26 before falling back below $0.80 due to the FTX crash. More recently, Polygon (MATIC) stabilized at this value.
Why was Polygon (MATIC) able to present such a good performance last year?
Compared to almost all other major cryptocurrencies, the Matic Coin fared much better. This is mainly because more and more developers are using Polygon (MATIC) as a network to create new decentralized applications. This fact has significantly improved the Polygon (MATIC) forecast for 2022.
The Ethereum blockchain scaling solution provides developers with an excellent and efficient platform to build their projects with great scalability. Moreover, it provides security by integrating it into the Ethereum ecosystem. After the hype around Cardano, Solana, and Avalanche died down, Polygon was able to get a lot of attention and show some good numbers in the bear market.
What is Polygon (MATIC) forecasting for 2023?
The predictions for Polygon (MATIC) in 2023 can certainly be considered positive. It helps that the piece comes from a good starting position. But increases in the coming year seem very likely, at least temporarily. Much will depend on the development of the Bitcoin course. This could increase even more strongly in the coming year.
We can compare this to 2019, when the Bitcoin price tripled after experiencing massive losses in 2018. The situation is eerily similar to this current Bitcoin cycle. Even then, Bitcoin price fell sharply in the first half of the year, stabilized in the second half, and experienced another massive crash at the end of the year.
How high can Polygon (MATIC) price go in our forecast?
The Polygone (MATIC) forecast for 2023 is a little more difficult to make, since it must be considered that the course may have performed much better than the other courses. The Matic Coin is therefore probably less undervalued than many other Altcoins. Still, a bitcoin rally similar to 2019 could trigger a big surge.
A mid-year rally would also lead to further consolidation. The price could rise to $2.50 at its peak, but then fall more sharply. We therefore assume a Polygon (MATIC) forecast of $1.40 to $1.70 by the end of 2023.
Is it worth investing in Matic Coin now?
An investment in the Matic Coin could again be worthwhile at the moment. A market reversal looks likely over the next few weeks and months as the second year of bear markets always bodes well for stronger medium-term gains. So, overall, Polygon (MATIC) could be worth investing in, as our predictions for 2023 show.
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