• Milk Road
  • Posts
  • 🥛 4 things to watch this month 👀

🥛 4 things to watch this month 👀

PLUS: this investing legend says BTC will hit $200K 🤑

March 01, 2024

Today’s edition is brought to you by LightLink – an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions.

GM. This is Milk Road. We’re the Rosetta Stone of crypto. We teach you the lingo so you can speak crypto like a natural.

Here’s what we got for you today:

  • 4 things to watch in March 👀

  • This Wall St. legend thinks BTC will hit $200K 🤑

  • Crypto exchanges are breaking records 🍪

4 THINGS TO WATCH THIS MONTH 👀

March is here! Which means 2 things…

1/ Millions of sports nerds will call themselves “bracketologists” (my buddy just added it to his LinkedIn) as they try to perfectly guess the results for the big college basketball tournament. 

This is a yearly phenomenon known as March Madness. 

2/ BTC and ETH usually see positive monthly returns in March…

  • BTC has an average return of +12.19% and has been “green” for 4 of the last 5 years. 

  • ETH has an average return of +22.07% and has been “green” for 7 of the last 9 years. 

So, will March’s green streak continue this year? As much as I wish I could predict the future (like Nicholas Cage in the movie “Next”)... I can’t. 

But here are a few big events that could make or break the month:

1/ Ethereum’s Dencun upgrade is scheduled to go live on the main network on March 13.

2/ The Federal Open Market Committee (FOMC) will meet March 19-20 to decide whether to raise, lower, or keep interest rates the same in the U.S. 

According to the CME FedWatch Tool, there’s a 97% chance for “no change”.

3/ NVIDIA’s AI Conference begins on March 18. 

AI-related cryptocurrencies generally tend to rally around events like this. 

4/ Token unlocks. 32 projects are expected to unlock tokens worth $2.9B this month. 

Here are the biggest ones:

  • APT will unlock ~$290M on March 12.

  • ARB will unlock ~$1.1B on March 16. (This is the big kahuna of the month!)

  • OP will unlock ~$91.56M on March 29.

P.S. - if you’re curious how unlocks affect prices, we got you covered here.

P.P.S. - if you wanna know what else is happening in March, check out the crypto calendar below:

This new L2 boasts about being gasless, and for Vitalik's sake, the average transaction fee is literally zero.

Ethereum's recent Dencun upgrade introduced blobs to reduce gas fees for L2s. 

But it's a bit late to the party, as LightLink L2 was already gasless even before it adopted Celestia's blobstreams.

LightLink's team has a knack for picking names. Their latest Hummingbird upgrade (light, small, and fast, get it?) integrated Celestia to make fees virtually invisible. 

It brings additional perks: 

  • The chain remains operational even with just one honest validator

  • It's censorship-resistant

  • Plus, it's outage-resilient

Airdrop Phase 2 is underway, featuring SPACE ID .ll domain registrations and Galxe tasks to dive into the ecosystem. 

In Phase 1, they are distributing only 0.58% of the supply, leaving a whopping 5.42% still up for grabs.

THIS WALL ST. LEGEND THINKS BTC WILL HIT $200,000 🤑

Peter Brandt is a legend in the finance world. 

  • He’s been trading commodities since 1976 (aka Peter’s seen more cycles than a laundromat).

  • His concepts and charts are textbook material - literally. His book ‘Diary of a Professional Commodity’ is considered a “classic.” 

Peter is the Yoda of Trading - when he speaks, even the market leans in to listen. 

Well, earlier this week, he dropped a new prediction… 

BTC will hit $200,000 this cycle. 

Here’s what else Peter had to say:

“On a personal note, I want to be a good sport. Congratulations to all who are fully engaged in BTC and other coins and see them as the bottom layer of the world's future monetary systems. 

I believe there is a chance for this to occur, with Bitcoin becoming an important store of wealth. 

My generation, Biden's generation (he belongs to the older "Post WW1 War" generation), and Gen Xers have been at the helm for the Great U.S. Debt Disaster. We're responsible for loading debt upon debt upon Gen M and Gen Z. 

There is something revolutionary going on with crypto that the old Gold bulls cannot fathom. But you younger investors understand it -- and hopefully crypto can bail out the system, or at least generate incredible wealth for you.

So, my ode to you is here. 

Laser to your heart's delight. You deserve it.

- Peter “The Chart Whisperer” Brandt

*mic drop*

BITE-SIZED COOKIES FOR THE ROAD 🍪

Multiple crypto exchanges reported breaking daily records during February. Coinbase and Deribit were breaking records left & right.

Wells Fargo and Bank of America’s Merrill have begun offering Bitcoin ETFs to their wealth management clients. “First they ignore you, then they laugh at you, then they fight you, and then you win.”

BlackRock’s Bitcoin ETF crossed $10B in assets under management (AUM). Fun fact: Only 4% of ETFs have reached that milestone. And BlackRock did it the quickest… 37 trading days.

Robinhood is teaming up with Arbitrum to allow its users to access swaps on the Layer 2 blockchain. Over the next few months, they’ll work “to support access to cross-chain swaps and other campaigns that lower the barriers to use Web3 on Robinhood Wallet.”

*This is sponsored content

MILKY MEMES 🤣

RATE TODAY’S EDITION

What'd you think of today's edition?

Login or Subscribe to participate in polls.

ROADER REVIEW OF THE DAY

VITALIK PIC OF THE DAY

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

Reply

or to participate.