Bitcoin is already above $30k. Is that all?

Howdy, dudes! It's Tuesday, which means the buidlbee crypto community has worked hard to find the most important news, analysis, and opportunities for you.

Here's what we have in store for you today:

• Bitcoin is worth $30k again. But why? Two reasons for the meteoric rise;

• What other important things are happening to Bitcoin, and how can this affect it?

• MATIC rebound. How to make money on the whale game;

• Raffle from CyberConnect;

• Polygon (MATIC) price analysis;

• Our ETH token draw;

• A free Web3 online marketing and business seminar from buidlbee Agency.

Quick news first:

• The Ethereum’s Shanghai hard fork is scheduled for April 12. More than 18 million ETH will be released.

• Binance will delist Kepple (QLC), Neblio (NEBL), and Auto (AUTO) tokens on April 18.

• Bitmain, the world's largest bitcoin mining equipment company, was fined about $3.55 million by the Beijing tax bureau in April, primarily for failing to pay personal income taxes.

• BNB Greenfield's first testnet for Congo went live on April 10. Developers can become validators, storage providers (SPs), and dApp creators.

• DOGE fans will make a documentary about a Dogecoin symbol dog named Kabosu.

• A hacker drained liquidity pools from the DeFi platform on Terra Classic Network (Terraport) for $2 million just days after its launch.

• L1 blockchain built on the Cosmos SDK, Sei, has raised $30 million in funding with a valuation of $800 million. The list of round participants includes Jump Capital, Distributed Global, Multicoin Capital, Asymmetric Capital Partners, Flow Traders, Hypersphere Ventures, and Bixin Ventures.

💲 Bitcoin is worth $30k again

There is a pleasant euphoria in the crypto market. And the most important question today is: what caused such a strong movement in the Bitcoin price?

We see two main reasons:

• Last night, the Bitcoin network saw big whale moves: 11 separate transactions of 2,000 BTC each that happened almost simultaneously. All of these amounts were moved from existing addresses on the exchange to new addresses outside of the exchange, meaning that a large purchase was made. This series of BTC buys created a bump effect and largely contributed to the $29k level.

• At the same time with these events, when the $29k mark was unexpectedly crossed, many traders decided to short BTC, expecting a standard pullback, but they didn't guess. As a result, short positions against #BTC worth about $200 million were liquidated early Tuesday morning. As we have written many times before, a large wave of liquidations creates a short-term pump effect. As a result of this additional momentum, the price has confidently surpassed the $30k mark.

This day in history

Today is quite a significant day for BTC — exactly 10 years ago, the Great Crash of Bitcoin took place. The main cryptocurrency then plummeted by 50 percent, causing panic sales.

Everyone who went on to hodl Bitcoin and didn't sell during that collapse is now in the plus by an incredible 20,000 percent!

What else is important about Bitcoin today?

• One of the U.S. presidential candidates, Robert F. Kennedy Jr., said yesterday that Bitcoin will give society a path to salvation when the financial bubble bursts.

• Fortune magazine released its first-ever "Crypto 40" ranking, which consists of eight categories, including TradFi and CeFi. From now on, Fortune will track the wealthiest crypto millionaires.

• According to the NYDIG, the price of Bitcoin soared 71.9% in the first quarter of 2023, far outperforming all other asset classes to become the highest-yielding asset in the world. Bitcoin's correlation with traditional assets, such as U.S. stocks, steadily declined this quarter. BTC's correlation with gold has intensified over the past few weeks.

You can also get access to exclusive analytics. The private letter "Deep analysis and market insights" is coming out every Saturday. Our Chief Analyst shares valuable and practical information. All you need are three referrals! ☝

👉 Opportunities

[1] 🔔 Making sense of $MATIC movements

In this in-depth article, analyst agency Santiment tried to find the logic in recent price actions on the Polygon blockchain. For example, in the last week, there have been several super large Polygon transactions, which is unusual. It was found that there is a noticeable correlation between the number of coins on the smart money wallets and the price of $MATIC.

When the percentage of $MATIC supply on exchanges falls and the price rises in response to demand, large movements of these tokens to the exchange begin, after which the whales fix profits until the next rise. That's exactly what happened this weekend.

Understanding these cyclesand watching closely the movements of the whales, you can try to play them in pairs — buying DIP after their sell-offs and selling immediately after the start of new big moves towards the exchange. An even simpler strategy is to just short $MATIC at the moments of large blockchain movements and sell them to the exchange immediately after the price increases (this is not a trading idea; act at your own risk).

[2] 🔔 MATIC could double in price

There are different views on the crypto market. And here is what P_S_trade's technical analysis says: the Polygon (MATIC) price correction to $0.5 is unlikely. Probably, MATIC will not fall below $0.70-$0.80 in the near future.

Therefore, analysts consider the $0.70-0.80 zone ideal for purchasing MATIC in mid- and long-term portfolios with a first-take profit not earlier than $2.50.

However, dear reader, it is up to you to decide whether to trust the fundamental analysis or the technical analysis.

[3] 🔔 CyberConnect raffle

CyberConnect is a decentralized social graph protocol that helps dApps bootstrap network effects and build personalized social experiences.

What to do:

• Mint a profile here (minimum 12 characters);

• Go to this site and complete the tasks;

• You must score 500 FanPoints (FP) to get a ticket;

• The drawing runs through April 13.

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

Is there a Polygon (MATIC) in your portfolio❓ 

This Friday, a powerful Web3 FREE online seminar on marketing and business from the buidlbee agency awaits you!

Topic: "How to promote a Web3 project on the global market?" 

• Based on the experience of developing our own project, we will talk about:

• What are the features of the promotion of Web3 projects in foreign markets? How to start from scratch and build a strong community?

• How to correctly plan and allocate marketing budgets?

• How to get free collaborations with influencers that others are paying tens of thousands of dollars for?

• How can PR help you grow multiple times?

When: April 14th at 1 PM UTC

Pre-registration link: here 

We look forward to seeing you soon!

We wish you fabulous profits and hope we are helpful in this. Catch you tomorrow! 🖐

🚨 Attention! 🚨

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