What is going on the mind of polygon investors ?
What is going on the mind of polygon investors ?
I am sure that the previous weeks of the investors of the polygon(Matic) coin wasn’t going good. And the reason you are already seeing on the chart. Even I was also in FUD and thinking multiple time that should I sell my coin on loss because of saving some of my capital.
But thankfully it’s take quick recovery it make more than 16% pump in 24h and make more 24% recovery in this week.
Even then I will ask to the communities or the polygon investor will think that it will be good idea to hold polygon for long-term or the best will be sell immediately after the recovery?
Im one of those investors too that been long time holding with this coin but didnt bother to sell out my bag no matter what. The advantage on having that portfolio which is consist of several coins is that you wont really be stressing out yourself whenever that one or two or half of those coins would be dumping and the others pumping on which you would really be having that back in mind that it is really just that a fine thing because you do know that recovery would really be always there. As for Polygon then its one of my favorite coins on which its cheap when it comes to transaction and it fast. We do know that when it comes to price increase
or value then everything would really be depending on the market demand on which of course this would really be the main consideration. Just like any other coins or projects in the market then
it would really be that survival of the fittest. Investing into potential coins would really be the key or something that had been that supported by the community or simply sitting on top ranks.
Matic all-time high is $2.92
The price now after the gain that you posted about is $0.517
Anyone that invested on the coin during its all-time high is losing 5.647 divided of the money the person invested on the coin. Example is someone that invested $1000 on Matic at all-time high. The person’s money would be $177.05 by now . That means the person is losing $823 already.
So is it worth investing on the coin in long term when it has no chance to even get to its all-time high?
I believe the reason for this matic price pump could be traced back to their two recent announcements, one about their upcoming upgrade, which is to happen a few weeks from now, on September 4th, and their plan to join the UK advocacy initiatives, which focus on promoting decentralisation.
For now, I think it will be wise for anyone holding to do their own research, but $0.5 is something that matic can outperform anytime, as I have held and sold some in the past for over $1, which I believe it can still get there.
But one thing is just uncertain to me since the new upgrade is going to introduce the Pol token as the new official native token, which will be used to cover up all polygon transaction fees. I think the demand for matic is absolutely going to decline when that starts. As we all know, matic being the native token for the network is part of the reason why its price is pumping.