Polygon (MATIC) is inching closer to reclaiming its 2023 high of $1.49. The asset has rallied by 4.3% in the daily charts, 17.1% in the weekly charts, 18.4% in the 14-day charts, and more than 50% over the previous month. However, MATIC’s price has rallied by a mere 10.8% since March 2023, far less than some of its rivals.
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Polygon’s (MATIC) latest rally is most likely due to Bitcoin (BTC) hitting a new all-time high of $73,603, earlier today. BTC’s rally, on the other hand, is attributed to increased inflows into spot BTC ETF (Exchange Traded Fund) products. As of Mar. 12, 2024, the spot BTC ETFs saw inflows exceeding $1 billion.
How high can Polygon (MATIC) go?
According to CoinCodex, MATIC could surge to $1.337691 on Mar. 17, 2024, a rise of about 7.8% from current levels. However, the platform anticiaptes MATIC to face a correction soon after reaching $1.33, falling to $1.22 by the end of the month.
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Changelly also paints a similar picture for Polygon (MATIC), predicting the asset to hit a maximum price of $1.33 this month. However, the paltform anticipates MATIC’s price to surge later in the year, hitting $1.93 by December.
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Telegaon, on the other hand, is very bullish on MATIC. The platform predicts the asset to hit a maximum price of $5.06 this year, which would be a new all-time high for the asset. Reaching $5.06 from current levels would translate to a growth of over 308%. However, Telegaon does not clarify the month when MATIC may reach this target. If BTC continues its bullish trajectory, we may see MATIC climb to new highs as well.