The altcoin season and Bitcoin at $150k predicted

Hey, fam! We hope you had a great week. At least, we tried to do our best. Sincerely yours, buidlbee crypto community. Today is no different, we keep bringing you important information. When the bull market finally arrives, you should already have your portfolio full. So don't miss opportunities.

Here's what you'll find in today's letter:

• When can we expect the start of the altcoin season?

• Why can Polygon (MATIC) begin to grow quickly?

• Steps to become a drop candidate from Arbitrum Nova;

• Detailed Bitcoin forecast with numbers;

• A chance to win ETH tokens (it's very easy)!

Before turning to the main part of the letter, we offer a quick tour of the key market events:

• Hardware wallet maker Ledger has raised $109 million in funding. The company's total valuation reached $1.41 billion.

• Personal Consumption Expenditures Price Index, the Fed's favorite inflation indicator, showed a slowdown in February 2023: 5% (expected 5.1%, previous figure 5.3% in January). The annual Core PCE Price Index declined to 4.6% from 4.7% in the same period (the forecast was 4.7%).

• On March 14, the U.S. government sold 9,800 BTC seized in the Silk Road case and plans to sell another 41,500 BTC. Four times over the course of 2023. The U.S. government is one of the largest BTC whales in the world. The total stock is 205,515 BTC (more than 1% of the coin's issue).

• Arbitrum airdrops made someone a millionaire. Lucky man made a profit on all 930K ARB ($1.3M) through 1inch at about $1.37. These tokens were claimed from 630 airdrop wallets on March 23, ranging from $625 to $5K $ARB from each wallet.

🔼Altcoins will grow as long as BTC grows steadily

According to blogger “Altcoin Sherpa,” now we are in such a phase of market growth that altcoins will grow only if BTC grows. In his opinion, meme coins will grow slowly, but acquiring some of them can bring profits. CoinShares said in its latest report that investments in crypto-asset-based products showed an impressive recovery after six weeks of $408 million in outflows.

Over the past week, altcoin infusions totaled $160 million, the largest weekly gain since July 2022. XRP has been one of the best performing altcoins during the last two weeks, with $1.2 million in inflows. Ripple has also seen high social media dominance, the highest this year, on the expectation of a court decision against the SEC.

Speaking about the timing of the altseason, the expert @AltcoinSherpa expressed this opinion:

Speaking about some individual altcoins, he gave these predictions:

• $ETH: I think [it] outperforms btc overall and could potentially be that way going forward.

• $XRP and $DOGE Those 2 are highly unpredictable, and I wouldn't be surprised to see [them] do a 2-3x run at least once in 2023.

• $SOL: I think it recovers, but [it] depends on the overall selling pressure from FTX/SBF.

• $BNB is still strong, [and] I think that Binance FUD blows over and they [will] still remain the #1 player in the crypto ecosystem.

• $MATIC: I think they have good chances in 2023,l; their BD and partnerships seem good.

• $AVAX: Not so sure, tbh. Could be a dead chain going forward; [it's] hard to say.

• $DOT: I think it is still mostly a dead chain [and has] never captured much attention.

• $LINK chart looks good and should still be a top oracle.

Other experts believe that there is no need to wait until fall 2023; the alt-season will start soon. So @bellavistacap says:

And user @TrueGemHunter adds:

In particular, @originofmarkets says in his recent thread about the altseason:

👉 Opportunities

[1] 🔔 Buy $MATIC

Santiment states that from January 21 to February 19, the network was trending downwards while $MATIC was trending upwards (left side of the chart). This bearish divergence caused the asset price to fall 40%.

But since March 10, the network growth has been going up, and the price of $MATIC is consolidating (right side of the chart). According to the rules of technical analysis, this time the bullish divergence is very likely to lead to an increase in the price of the asset.

[2] 🔔 5 ways to claim a potential drop from Arbitrum Nova

Arbitrum Nova is a Layer-3 solution for Arbitrum that targets the NFT and Play-To-Earn (P2E) sectors, as it needs a lot of small and fast transactions to scale. Arbitrum Nova provides even lower fees and faster transactions than Arbitrum. There are already a lot of rumors that, in the near future, there may be a launch of its own token, NOVA.

How to become a potential drop claimant?

1. Add the network to Metamask via Chainlist.

2. Transfer ETH from the Ethereum main network to Arbitrum Nova using the official bridge.

3. Transfer to ArbSwap, SushiSwap, Rcpswap, or Slightshot.

4. Buy and sell NFT on TofuNFT

5. Withdraw ETH with Orbiter Bridge.

The release date of the token is unknown, so it's not worth trying to do all the activities as fast as possible.

Working from multiple accounts is not profitable, as you will lose out on every transfer across the bridge. So it's better to wait until GWEI is below 20.

It's more profitable when you have a couple of accounts.

[3] 🔔 Bitcoin at $150k?

The current situation

BTC is out of a downtrend, crypto analyst CRYPTOMOJO_TA believes. The bull and bear markets after the last halving (in May 2020, at $8,601 per bitcoin) lasted about 1,000 days. If we take historical data, we can predict that BTC entered the next halving with a 50% drop from the top. Given that, bitcoin's price could be around $35,000 at the next halving (expected in the first half of 2024).

Currently, BTC has broken out of the bullish pennant and is trying to reclaim the previous resistance level of $28600. Reclamation of this level with a candle close above it would be a strong bullish sign for the market.

Short-term prediction for Bitcoin

Short-term holder SOPR (Spent Output Profit Ratio) indicates that since March 12, 2023, coins moved inside the network by short-term holders are again profitable. Market participants are reevaluating their attitudes toward the Bitcoin market. This is a positive factor for Bitcoin, but the rate at which the profitability of short-term coins (< 155d) is growing is far behind the growth of the Bitcoin price. If this contradiction persists shortly, it may create conditions for another rollback to $19,000-$21,000.

Long-term prediction for Bitcoin

The long-term prediction for BTC is $150k by 2025, and it won't go much higher than that. The BTC growth will slow down in the future due to halvings.

Answer a quick question and get a chance to win ETH tokens.

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Make the best of it and have a great weekend. Something special will drop in your email tomorrow! See ya!

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