Polygon is poised to overtake Bitcoin after MATIC takes Dogecoin’s rank #9 – Mass adaptation is imminent
Analyst Pentoshi believes that Polygon (MATIC) will attain an all-time high (ATH) price against Bitcoin (BTC).
The analyst is confident in MATIC’s ability to attain this milestone within 14 days before the Polygon zkEVM upgrade rolls out.
Polygon might be only a few days or just a week away from going head to head with Bitcoin in price performance. This sentiment was shared by analyst Pentoshi, and has since spurred on an interesting conversation in the cryptocurrency twitter space.
Pentoshi, a popular cryptocurrency analyst fond of sharing his predictions and technical analysis of crypto on Twitter, is confident that Polygon (MATIC) has the capacity to not only increase its value significantly, but also unseat Bitcoin, the most valued cryptocurrency by market cap, with regards to all-time high performance.
According to Pentoshi’s tweet, the takeover could be recorded this week. If it takes longer, it might happen in the following week. The analyst believes that Polygon (MATIC) will attain an all-time high (ATH) price against Bitcoin, just before the upcoming ZkEVM upgrade.
He reckons that MATIC’s strength during the bear market was commendable. Furthermore , the launch of the upcoming zkEVM mainnet is a major catalyst for a MATIC bullish run, as market players are also hurrying to short their positions.
“Last tweet for the night. MATIC ath vs BTC could be this week, or next. Look how it performed during the bear. Now add a catalyst world’s first zkEVM mainnet coming in a month and people in a rush to short. Imo tops closer to 10-14 days out from event. Also finally broke 1.30.” Pentoshi explained in the tweet.
Last tweet for the night$MATIC ath vs BTC could be this week, or next. Look how it performed during the bear. Now add a catalyst
world’s first zkEVM mainnet coming in a month and people in a rush to short
Imo tops closer to 10-14 days out from event
Also finally broke 1.30 pic.twitter.com/ioxTAtFH7N
— Pentoshi 🐧 (@Pentosh1) February 16, 2023
Pentoshi makes room for a reversal correction, while remaining bullish
In addition to his tweet, the analyst maintains that a bearish correction is not out of the equation, despite MATIC looking extremely bearish. However, he concludes that the chart is still very promising. He asserted in a preceding tweet.
Really is last tweet. Am I excited? yes, it’s been a great week. I am turbo bullish on this though. Will there be corrections? also yes, there always is. But this is a great chart, great team, and great catalyst. High probability setup
On February 14th, Polygon announced March 27th as the launch date for the highly anticipated upgrade from Ethereum layer-2 scaling solution provider Polygon. Polygon also noted that the launch date reveal is coming after a three months long battle testing.
The zero-knowledge Ethereum Virtual Machine (zkEVM) Mainnet Beta launch has been an important topic of conversation in the Polygon ecosystem lately.
The upgrade is particularly important for Polygon network developers. Users of the Polygon blockchain will also greatly benefit from the upgrade. The upgrade intends to scale Polygon, by bringing speed to the network, and reducing transaction cost.
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Filed under: Bitcoin - @ February 19, 2023 3:43 pm