Crypto analyst Tom Busby has released his latest video discussing the top five altcoins to watch for in March. As we head into the final month of Q1 2023, investors are keen to know where the market is headed.
Optimism (OP)
First on the list is Optimism, currently ranked at 73 and trading at $3. Busby notes that Coinbase is launching an Ethereum Layer 2 network based on Optimism, which could be a significant catalyst for its price. Busby thinks that the collaboration between Coinbase and Optimism is a positive sign and will keep Coinbase competitive.
Anchor (ANC)
Next up is Anchor, currently ranked 99 and has been on the market since 2019. Anchor has recently partnered with Microsoft to offer enterprise node services, which could give it a competitive edge. Busby notes that partnerships like this are crucial for crypto projects and could lead to mass adoption. Busby believes that Anchor could reach its all-time high of just under 20 cents of a dollar in the long term.
Stacks (STX)
The third pick on Busby’s list is Stax, up 18% today and currently trading well. Stax has been around since late 2019 and is a layer 1 blockchain solution designed to bring smart contracts and decentralized applications to Bitcoin. Busby believes that if Stax can provide this for Bitcoin, it will keep its competitive edge.
Polygon (MATIC)
Polygon, also known as Matic, is Busby’s fourth pick. Polygon is doing some amazing stuff behind the scenes, building the Ethereum network’s scalability. Busby notes that they’ve recently partnered with zkEVM launch, which he’ll discuss in more detail in his upcoming video. Busby believes that Polygon could reach its all-time high of just around $2 at $22 or $70 in the long term.
Cardano (ADA)
The final pick on Busby’s list is Cardano, currently ranked number seven in the world. Although it had an alright February, Busby notes that there are some bearish signs for Cardano, but it’s still a pick for March. Cardano is partnering with many different companies and countries worldwide, which could be a big thing in the long term.
Market Predictions
Busby notes that March is usually a month of bearish price action, and he expects to see the same in 2023. He believes that Bitcoin’s price will continue to drag up and down the altcoins throughout March. Although he believes we could see a sub-20k Bitcoin within the next few months, he’s also optimistic that inflation could come under control quickly, which could change things very quickly.
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