You make your money in bear markets, you see how much you earn in bull markets. Introducing this concise statement, crypto analyst Stu L chooses an altcoin for those who want to become crypto millionaires and does some calculations.
Historical performance of Polygon (MATIC)
Before we get to the exact amount of MATIC to become a millionaire, we need to understand where Polygon can go from here. To do this, we must first understand where it is. Most of us are not whales holding hundreds of thousands of MATICs. So that means we will need to see a big price move to become a Polygon millionaire. But could be!
As such, Polygon’s self-stated goal is to become the #3 project in crypto. This means it only aims to be behind Bitcoin and Ethereum. Currently, here are the market values:
- Bitcoin $544 billion
- Ethereum $212 billion
- Polygon $10 billion
Today, Polygon is the #10 altcoin project. The current number 3 with $79 billion is Tether. So if nothing else changes, Polygon will need 6x, or almost $8, to beat Tether. These are also sweet gains. However, we know that ‘if nothing changes’ it is not real. Things change all the time and how much can Polygon make in a big bull market? The total supply of MATIC is 9.8 billion, of which 9 billion is in circulation. So a move from $1.09 to $7.80 would give us a higher value than Tether today.
The all-time low in 2019 is $0.0031. Those days are long gone. But the all-time high was just behind the massive bull market peak of November 2021. The December 2021 high was $2.88. And that would be a nice 150% gain from here for us.
But can Polygon reach all-time highs and make millionaires? Yes, yes it can!
What do altcoin charts say?
We asked our Technical Analysis team to look at Polygon and they said, “…If we see $2.88 as the top of the previous cycle and $0.32 as the bottom of the previous cycle, then the next bull run MATIC is likely to be $1.30, $1.60, $1.90, $2.33, and $2.88. will point right. Breaking the previous high of $2.88 could bring MATIC to $4.46 and $7.02 (2.4x the previous ATH) in the long run.”
And it’s helpful to know what the charts are saying. You can learn a lot from them. I believe that MATIC will go even higher than that. So, looking at the all-time graph over 5 years between MATIC and ETH, MATIC is 72% ahead against ETH. This means that Polygon will rise even higher when ETH rises in the bull market.
Looking at our market caps, we have $212 billion for ETH and $10 billion for Polygon. Do you think ETH could be a $1 trillion project in a bull market and do it 4x? Because I do. Bitcoin has reached its highest level of $1 trillion and should surpass that as it becomes a safe haven away from banks.
Can Bitcoin reach $10 trillion and Ethereum $1 trillion? I bet it could. And for over 5 years, this chart tells us that MATIC has gained value against Ethereum. So if ETH does 4x, how much more can Polygon do than 4x?
How much MATIC = $1 million?
So, you’ve seen our bull arguments based on:
- Market value growth.
- Market value dominance.
- Technical analysis.
- Growth over time versus Ethereum.
And you know MATIC is one of our top picks of the year. So how much MATIC should we take? We predict that MATIC will reach $40-60 in the next 2-5 years. That means Polygon will be worth 400-600 billion. This is the range Bitcoin is currently in.
So at $40, that means you’ll need 25,000 MATICs. Or you’ll need 16,666 to 25,000 MATICs at the high end of our range to become a MATIC millionaire.
The opinions and recommendations in the article belong to the analyst and are not investment advice. cryptocoin.com We strongly recommend that you do your own research before investing.
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