Will the Price of Polygon (MATIC) Rise This Weekend? Here's What Analysts Say

Bittime - Polygon (MATIC) price is getting closer to its 2023 high of $1.49 or Rp. 23,208.31.

This crypto asset has seen its price increase by 4.3% on the daily chart, 17.1% on the weekly chart, 18.4% on the 14-day chart, and more than 50% over the past month. 

According to data from CoinGecko, the increase in MATIC prices since March 2023 was only 10.8%, much lower than other crypto assets.

Bitcoin Price Increase Pushes MATIC?

The rise in Polygon (MATIC) price was most likely triggered by Bitcoin (BTC) hitting a new all-time high of $73,603 today.

The increase in BTC prices itself was driven by increased inflows into spot Bitcoin ETF (Exchange Traded Fund) products. As of March 12, 2024, spot Bitcoin ETFs experienced inflows exceeding $1 billion.

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Polygon (MATIC) Price Prediction

• CoinCodex: Predicts MATIC to potentially rise to $1.337691 on March 17, 2024 , up about 7.8% from current levels. However, the platform expects MATIC to undergo a correction soon after hitting $1.33 , dropping to $1.22 by the end of the month.
• Changelly: Provides a similar prediction, expecting MATIC price to reach a maximum of $1.33 this month. However, the platform predicts a more significant increase in MATIC prices later in the year, touching $1.93 in December.
• Telegaon: Very bullish on MATIC, predicting the price of this asset to reach a maximum of $5.06 this year, which would be a new record high. A rise to $5.06 from current levels would mean growth of over 308%. However, Telegaon did not mention the month when MATIC might achieve this target.

If Bitcoin continues its bullish trend, MATIC price may also reach a new record high.

Also Read: Bitcoin Breaks New ATH Record Up to IDR 1.13 B as ETF Gobbles Up Supply

Current Price of Polygon (MATIC).

Source: Bittime

According to the Bittime.com market, currently March 14 2024 for 1 DOT to IDR is at Rp. 177,537 and experienced an increase of +1.97 in the last 24 hours.

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Conclusion

Analysts provide mixed predictions for the future price of Polygon (MATIC). Some analysts predict modest gains in the near term, while others see the potential for more significant growth later in the year.

How to Buy Polkadot (DOT) on Bittime

You can buy and sell Polkadot (DOT) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Polkadot (DOT) is available on Bittime with the market pair DOT/IDR . To be able to buy DOT IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Polkadot (DOT) on Bittime . 

Monitor price chart movements for Polkadot (DOT) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Will XRP Experience a Bull Run and Hit a Record High? This is the Price Prediction in 2024–2025

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Manta Network (MANTA) Staking Instructions: Contribution to a Secure and Sustainable Network

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.