A widely followed cryptocurrency analyst has predicted that the Ethereum layer-2 scaling solution Polygon (MATIC) is on the verge of outperforming Bitcoin (BTC). The pseudonymous crypto analyst Pentoshi recently shared the news with his 675,500 Twitter followers, noting that a key upgrade to the Polygon blockchain project will send its price soaring.
On March 27th, Polygon Labs announced the launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) beta main network. This upgrade is intended to improve the Ethereum ecosystem experience for users and developers by increasing efficiency and reducing cost. Pentoshi believes that Polygon will reach an all-time high (ATH) price against Bitcoin in the next ten to fourteen days in anticipation of the tech upgrade.
MATIC is currently worth 0.0000602 BTC ($1.47) at the time of writing. In order to reach an ATH, MATIC needs to exceed 0.0000650 BTC ($1.59), which it last hit in November 2022. Pentoshi believes that since Polygon has remained strong during the bear market, it only makes sense that the event launch will send it much higher during a broader crypto rally.
The analyst is also accumulating more of the token as it turned $1.30 from resistance into support and began to pump higher. Pentoshi believes that Polygon could pull back after its rally to $1.33, but predicts it will eventually hit $1.50.
In conclusion, Pentoshi’s predictions suggest that Polygon is on the verge of outperforming Bitcoin. The upcoming upgrade to the Polygon blockchain project is expected to enhance the Ethereum ecosystem experience for users and developers, and Pentoshi believes that the event launch will send the price of Polygon much higher during a broader crypto rally. The analyst is also accumulating more of the token as it turned $1.30 from resistance into support and began to pump higher. Pentoshi believes that Polygon could pull back after its rally to $1.33, but predicts it will eventually hit $1.50. With the upcoming upgrade to the Polygon blockchain project, it is likely that the price of Polygon will continue to rise in the coming days and weeks.
