According to a highly recognised expert, The Ethereum (ETH) layer-2 scaling solution Polygon (MATIC) is ready to outperform Bitcoin (BTC).
Cryptocurrency expert Pentoshi assures his 675,500 Twitter followers that the Polygon blockchain project will see a price spike after a significant update.
The primary beta network for Polygon Labs’ zero-knowledge Ethereum Virtual Machine (zkEVM) is scheduled to be live on March 27. The purpose of the update is to improve the Ethereum ecosystem for individuals and developers by increasing productivity and decreasing costs.
Prior to the technology update, Pentoshi estimates that Polygon’s price would achieve an all-time high (ATH) versus Bitcoin between ten to fourteen days.
“MATIC ATH versus BTC might occur this week or the next. Examine its performance throughout the bear. Now throw in the fact that the world’s first zkEVM mainnet is launching in a month, and you have a perfect storm that has sent the price of Imo rising to new highs about 10-14 days before the event. It has also finally broken the $1.30 barrier.”
Pentoshi argues that given Polygon’s stability throughout the down market, it is only logical that the event launch would push it to new heights amid a larger crypto rise.
“As said yesterday, this will likely be my primary trading focus for the next month. As we approach the event’s opening, I believe it will be trading substantially higher than it is now.
Once the token changed $1.30 from resistance to support and started to rise, Pentoshi said that he is acquiring more of it.
After its surge to $1.33, Polygon might see a pullback, according to Pentoshi, but it will finally reach $1.50. If it cools down a little, there may be a retreat towards 1.33 in the short term. If so, we will consider adding it.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.