A trader known for his string of accurate statements says Polygon (MATIC) could soar during the next bull market cycle.
Pseudonymous analyst Dave the Wave tells Its 142,700 followers on social media platform
“If MATIC did a 3x against BTC, and BTC did a 5x against USD (US dollar)… you do the math.”
Looking at his chart, the trader suggests that MATIC will repeat a similar pattern against BTC and rise by around 200% from its current value to around 0.0000618 BTC ($2.25).
MATIC/BTC is trading at 0.0000220 BTC ($0.77) at the time of writing.
The trader also weighs in on Bitcoin, and he say that the one-year moving average of the king crypto shows how the logarithmic growth curve (LGC) is accurate forecaster of BTC’s broader price pattern.
The analyst version of an LGC aims to chart the highs and lows of Bitcoin’s long-term market cycles, while filtering out short-term volatility and noise.
“BTC’s one-year moving average confirms the LGC…
This may be the best measure we have to identify ‘bull market support’… where the shorter-term measures cross the price too often to either side.”
BTC is worth $35,278 at the time of writing.
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Generated image: Midjourney