While most of the crypto market has lost money in the past 2 months, MATIC is optimistic on a macro level. The upward trend that began in October surprisingly continued despite several declines.
Magical MATIC
Three rallies brought MATIC to $ 2.87, an increase of over 174% in just 2.5 months.
The first rally in October made MATIC rise 103.1 percent, the second rally in November saw the altcoin rise 62 percent, and the last and most recent rally reached 58.3 percent. However, the tradition of partial loss of profit continues with a decrease of 13.57% in the last 2 days.
MATIC price promotion | Source: TradingView
But the most important thing is the investor’s situation. 3 months ago about 52% of the 309,000 addresses suffered a loss. Now that number has dropped to just 1.18% and the remaining 98.82% are profitable or break even.
Profitable MATIC investors (green) | Source: Intotheblock
Of these, 18,000 addresses lost the most because they bought for the ATH price.
Predict the future
In future, MATIC will probably have to increase the proportion of long-term owners compared to the medium-term. It is more likely that the asset will remain volatile if investors don’t stop selling.
MATIC investor distribution | Source: Intotheblock
When the coin arrived at ATH two days ago, 55 million MATICs worth over 155.5 million US dollars were sold out in one day.
MATIC | net cash flow Source: Intotheblock
The only issue of concern here is the asset’s increased correlation with Bitcoin. Usually this is a good sign, but since the king of cryptocurrencies is bearish and MATIC is rising, a high correlation can have a negative impact on altcoins.
MATIC correlation with Bitcoin | Source: Intotheblock
Fortunately, the correlation is currently at -0.08 (down from -0.7), so it will be some time before BTC has an impact. Investors can consider a high correlation to be the right exit point as long as Bitcoin keeps moving as it is.
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Market
The MATIC rally depends on …
While most of the crypto market has lost money in the past 2 months, MATIC is optimistic on a macro level. The upward trend that began in October surprisingly continued despite several declines.
Magical MATIC
Three rallies brought MATIC to $ 2.87, an increase of over 174% in just 2.5 months.
The first rally in October made MATIC rise 103.1 percent, the second rally in November saw the altcoin rise 62 percent, and the last and most recent rally reached 58.3 percent. However, the tradition of partial loss of profit continues with a decrease of 13.57% in the last 2 days.
MATIC price promotion | Source: TradingView
But the most important thing is the investor’s situation. 3 months ago about 52% of the 309,000 addresses suffered a loss. Now that number has dropped to just 1.18% and the remaining 98.82% are profitable or break even.
Profitable MATIC investors (green) | Source: Intotheblock
Of these, 18,000 addresses lost the most because they bought for the ATH price.
Predict the future
In future, MATIC will probably have to increase the proportion of long-term owners compared to the medium-term. It is more likely that the asset will remain volatile if investors don’t stop selling.
MATIC investor distribution | Source: Intotheblock
When the coin arrived at ATH two days ago, 55 million MATICs worth over 155.5 million US dollars were sold out in one day.
MATIC | net cash flow Source: Intotheblock
The only issue of concern here is the asset’s increased correlation with Bitcoin. Usually this is a good sign, but since the king of cryptocurrencies is bearish and MATIC is rising, a high correlation can have a negative impact on altcoins.
MATIC correlation with Bitcoin | Source: Intotheblock
Fortunately, the correlation is currently at -0.08 (down from -0.7), so it will be some time before BTC has an impact. Investors can consider a high correlation to be the right exit point as long as Bitcoin keeps moving as it is.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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