Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31st

Members of the cryptocurrency community are voting, so to speak, and it will become clear whether their predictions were accurate.

The cryptocurrency market consensus predicts a 20% rise in MATIC prices by the end of the month, as reported by CoinMarketCap’s price forecasting indicator.

This rather optimistic prediction from the community suggests a high level of trust in both the token and the ecosystem.

Good news has arrived in the Polygon community recently, thanks to a tweet from Polygon’s official Twitter account announcing a new collaboration with trading platform Robinhood.

Do Robinhood team-ups give good results?

The tweet suggests that Robinhood is partnering with Polygon to offer a Bitcoin wallet service. The Robinhood Wallet app is built with DeFi in mind.

According to Polygon’s blog post, the Robinhood Wallet is a self-custody wallet, giving owners complete discretion over their cryptocurrency holdings.

This is not the first venture Robinhood has made, as it has made other forays into the cryptocurrency market.

Actively involved in the cryptocurrency industry since its inception in 2018, Bitcoin and Ethereum are the first coins that traders can freely trade on their platform for free. Change has started in a select number of states.

By 2021, cryptocurrency trading has expanded to the entire United States, excluding Hawaii and Nevada.

The trading platform supports 11 cryptocurrencies including Bitcoin and Ethereum. It also facilitates the trading of alternative cryptocurrencies, similar to Polygon’s MATIC token.

With over 37,000 decentralized applications available on Polygon’s platform, it will undoubtedly support Robinhood’s most ambitious cryptocurrency endeavors. But how did Polygon investors and traders react to this news?

Gathering in the Seas of Crypto?

At the time of this writing, MATIC trades in $.$0.778741, down 0.1% over the last 7 days, data from Saturday’s Coingecko show.

The token is currently trading between the 50 Fib level ($0.6876) and the 61.80 Fib level ($0.7761).

The current support line is at $0.7252, which is very important.

If the price hits the 61.80 Fib level again, we can expect a slight correction if there is enough buying demand.

Investor confidence is high as Polygon pushes its relationship with Robinhood, with the community predicting a price increase of nearly 20%.

MATIC total market cap at $6.8 billion on the daily chart | Source: TradingView.com

Featured image from VOI, Chart: TradingView.com