Are MATIC investors interested enough to survive in a bear market?
As the market experiences its third straight day of losses, MATIC is on the verge of making a local bottom of $1.21. In fact, as of the writing of this article, that number is only 11.4% off the above level.
Source: Trade View
As of this writing, MATIC is one of the biggest losers in the market, down 15.48% from yesterday’s high. However, this is not the only bearish coin on the chart.
MATIC is not alone
Not only individual coins were affected, but the entire market. This is reflected in the Fear and Greed Index.
The indicator has returned to the extreme fear zone, completely shattering the euphoria of the past two weeks. In fact, the indicator could soon reach a yearly low of 10 if the market doesn’t see any upward movement.
Cryptocurrency Fear and Greed Index | Source: alternative
This imperative is the only optimism keeping investors from selling and exiting the market, especially MATIC. Another sell off is possible as it has happened twice in the last 45 days. When the crash began on Jan. 13, 249 million MATICs worth $339 million were sold on exchanges in a single week.
The second came on Feb. 6 after MATIC was up 11%, up 16% the day before. In 48 hours, investors sold 318.6 million MATICs worth $434 million.
Despite this, around 100 million MATIC have been purchased since then. Investors are currently refraining from selling despite falling prices. However, it is impossible to say for sure whether they will continue HODL or not if MATIC maintains its downtrend.
Change balance | Source: Santiment
A game that requires patience
In just 20 days, the number of losing investors doubled from 30% to almost 60%. So it wouldn’t be surprising if MATIC owners soon lose patience.
The social mood on all channels is somehow not leaning towards the bears at the moment – ​​a good sign. Investors are much more active today than they were more than four months ago, according to Santiment. This week also showed its first signs of cheer as the general mood was negative through February 17th.
Investor Sentiment | Source: Santiment
Polygon’s growing accomplishments may have a lot to do with this positive sentiment, especially as it is one of the largest DeFi and NFT hubs with a combined value of nearly $4 billion.
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Analysis
Are MATIC investors interested enough to survive in a bear market?
As the market experiences its third straight day of losses, MATIC is on the verge of making a local bottom of $1.21. In fact, as of the writing of this article, that number is only 11.4% off the above level.
Source: Trade View
As of this writing, MATIC is one of the biggest losers in the market, down 15.48% from yesterday’s high. However, this is not the only bearish coin on the chart.
MATIC is not alone
Not only individual coins were affected, but the entire market. This is reflected in the Fear and Greed Index.
The indicator has returned to the extreme fear zone, completely shattering the euphoria of the past two weeks. In fact, the indicator could soon reach a yearly low of 10 if the market doesn’t see any upward movement.
Cryptocurrency Fear and Greed Index | Source: alternative
This imperative is the only optimism keeping investors from selling and exiting the market, especially MATIC. Another sell off is possible as it has happened twice in the last 45 days. When the crash began on Jan. 13, 249 million MATICs worth $339 million were sold on exchanges in a single week.
The second came on Feb. 6 after MATIC was up 11%, up 16% the day before. In 48 hours, investors sold 318.6 million MATICs worth $434 million.
Despite this, around 100 million MATIC have been purchased since then. Investors are currently refraining from selling despite falling prices. However, it is impossible to say for sure whether they will continue HODL or not if MATIC maintains its downtrend.
Change balance | Source: Santiment
A game that requires patience
In just 20 days, the number of losing investors doubled from 30% to almost 60%. So it wouldn’t be surprising if MATIC owners soon lose patience.
The social mood on all channels is somehow not leaning towards the bears at the moment – ​​a good sign. Investors are much more active today than they were more than four months ago, according to Santiment. This week also showed its first signs of cheer as the general mood was negative through February 17th.
Investor Sentiment | Source: Santiment
Polygon’s growing accomplishments may have a lot to do with this positive sentiment, especially as it is one of the largest DeFi and NFT hubs with a combined value of nearly $4 billion.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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