What is happening to the crypto assets Bitcoin Cash (BCH), Cardano (ADA) and Shiba Inu (SHIB)? Let’s take a look at the performance of these coins, with a forecast of future prices and the latest news featuring them.
Analysis of Bitcoin Cash (BCH), Cardano (ADA) and Shiba Inu (SHIB)
Recall that Bitcoin Cash (BCH) is a cryptocurrency fork of Bitcoin, which is a spin-off or altcoin created in 2017. Not only that, in November 2018, Bitcoin Cash further split into two cryptocurrencies: Bitcoin Cash and Bitcoin SV.
Cardano, whose native crypto is ADA, is an open source cryptocurrency project that aims to build a public blockchain platform for smart contract management.
Shiba Inu (SHIB) is a decentralized crypto based on Ethereum. Specifically, its success is also due to the contribution of important personalities related to the blockchain industry such as Elon Musk.
Is Bitcoin Cash trending upward? Comparison with Cardano and Shiba Inu
The forecast for the price of BCH points to a recovery phase for the cryptocurrency during trading in recent days. Specifically, BCH needs to break out of the symmetrical triangle pattern in which it has been trading.
Not surprisingly, buyers are trying to push the price of crypto BCH past the upper trend line of the symmetrical triangle pattern. We see that Bitcoin Cash has risen about 9.69% in the last week and 7.77% in the last month.
In addition, the coin has recovered about 8.73% in the past three months and BCH has gained 40% so far this year. All factors aimed at indicating that its recovery will most likely be the greatest in 2023.
In other words, technical signs point to the upward trend of BCH cryptocurrency. Not only that, the overbought region of the relative strength index also shows the rising momentum of Bitcoin Cash’s price.
In fact, the RSI was at 63 and was trying to hold toward the overbought region.
Hence, the price of Bitcoin Cash is in an upward trend, as seen by MACD, the line that, after a positive cross, is higher than the signal line.
However, care must be taken, because until the bulls maintain momentum on the higher trend line, BCH investors must wait.
Cardano is now active on BTC Markets, Australia’s largest exchange
As reported by Twitter, Cardano (ADA) recently joined Australia’s largest cryptocurrency exchange, BTC Markets. Specifically, BTC Markets holds over 325,000 active traders.
The news, which is now tangible, had already appeared around early April, when BTC Markets first made known its intention to support ADA trading on its platform, much to the excitement of Cardano supporters.
Indeed, BTC Markets supports several major crypto assets: Bitcoin, Ethereum, XRP, Solana, Algorand and others. And from now also ADA, which over the past year has seen its listing on the Robinhood platform along with other cryptocurrency exchange listings.
In any case, the news for Cardano does not end there, as AnetaBTC, a protocol with the aim of bringing the wrapped version of BTC on-chain to Cardano and Ergo, has announced the integration of the Lace wallet.
The latter will be available from the initial launch of its Cardano public testnet on 20 April. Lace 1.0, IOG’s lightweight wallet platform, was released on mainnet on 11 April 2023.
Shiba Inu: the most popular crypto in Turkey, why?
As is well known, Shiba Inu (SHIB) has attracted global attention in recent times. However, data suggest that investors in Turkey may be showing the highest level of interest in the asset.
Indeed, we see that SHIB is among the most popular crypto assets in the transcontinental country, overshadowing even assets such as Ethereum (ETH) and Cardano (ADA).
Going to Google Trends data, we can see that residents of Turkey account for the majority of Google searches for “Shiba Inu coin” over the past three months, occupying a significant space in market share.
Specifically, it has a value of 100 on Google Trends data, which suggests the peak popularity for the asset in a particular region. In any case, aside from searches, even the trading volume of Shiba Inu in Turkish lira (TRY) suggests that the asset is one of the most popular crypto assets among investors in the country.
In fact, the asset boasts a 24-hour trading volume of $5.6 million against the Turkish lira on Binance. To realize how popular Shiba Inu is, just think that ETH has a trading volume of $4.8 million against the lira, while XRP and ADA have $1.8 million and $954K respectively on Binance.
However, Shiba Inu in this context finds only one rival in its path: Dogecoin (DOGE), which is witnessing a 24-hour volume of $5.6 million against lira on Binance.