Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-decline-while-polygons-matic-presents-buying-opportunity" rel="noopener noreferrer nofollow">Bitcoin Faces Decline While Polygon’s MATIC Presents Buying Opportunity</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/bitcoins-rollercoaster-etfs-launch-prices-drop-and-future-optimism" rel="noopener noreferrer nofollow">Bitcoin</a> market is currently undergoing a slump, with its price hovering around $65,370, and there are increasing concerns about a further drop due to a lack of demand, particularly in the ETF channel. This, coupled with a negative market sentiment, has energized sellers. Despite the bearish outlook for Bitcoin, analysis suggests that Polygon’s native <a href="https://en.bitcoinhaber.net/crypto-market-suffers-major-blow-with-bitcoin-price-plunge" rel="noopener noreferrer nofollow">cryptocurrency</a>, MATIC, may be at an opportunistic buying level.</p>
<h2 id="price-downturn-for-matic">Price Downturn for MATIC</h2>
<p style="text-align: justify">MATIC’s value has recently seen a downturn, dropping below $0.9 for the first time since mid-February. The coin, which peaked at $1.26 in mid-March, has been affected by the broader market’s negative sentiment, partially influenced by Genesis’s GBTC sales.</p>
<h2 id="assessing-the-right-moment-to-invest-in-matic">Assessing the Right Moment to Invest in MATIC</h2>
<p style="text-align: justify">Analysts are scrutinizing the MVRV ratio to determine the potential profitability of investing in MATIC at its current levels. The 30-day MVRV stands at -14.75%, and historically, those who have acquired MATIC when the ratio ranged between -5% and -15% have seen gains. Additionally, current data implies that the market has already accounted for recent losses, suggesting that investors with a medium to long-term view may hold steady without rushing to sell.</p>
<h3 id="points-to-consider">Points to Consider</h3>
<ul>
 <li>Buying MATIC now could be profitable based on the MVRV ratio’s historical performance.</li>
 <li>The market may have stabilized, with “weak hands” having exited, possibly reducing the likelihood of further sell-offs.</li>
 <li>About 42% of investors are currently experiencing losses, indicating a potentially low point for entry.</li>
</ul>
<p style="text-align: justify">As for MATIC’s future price trajectory, should Bitcoin’s price fall sharply, MATIC may also drop, potentially slipping below its $0.88 support level and the 100-day EMA, with a further possible decline to $0.81. Conversely, if MATIC overcomes its $0.92 resistance, a push towards the $1 mark could be on the horizon. While historical data offers insights, it’s essential to remember that market predictions remain uncertain and past trends do not always dictate future movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-decline-while-polygons-matic-presents-buying-opportunity" rel="noopener noreferrer nofollow">Bitcoin Faces Decline While Polygon’s MATIC Presents Buying Opportunity</a></h5>

Bitcoin Faces Decline While Polygon’s MATIC Presents Buying Opportunity

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