It is another fairly good day for the cryptocurrency ecosystem as the slight retreat failed to pull Bitcoin below the $7,000 support level.
Since the beginning of April, there has been a slight recovery in the market, and Monday was such a marvelous day due to the bullish display that pumped Bitcoin to a daily high of $7,470.
As such many analysts who believe in Bitcoin have urged investors to be patient for better days that’s just around the corner.
In a similar perspective, crypto analytic and data tracking platform CoinCodex has listed top five coins investors should watch out for in the month of April.
The crypto tracking platform, in the release, stated that the upcoming halving has helped reveal the uniqueness of the cryptocurrency market especially at a time the world is facing a financial crisis.
CoinCodex revealed that of all crypto assets in the market, 5 would be highly motivated to follow in the month of April. The crypto tracking platform afterward listed Bitcoin, Bitcoin Cash, Binance Coin (BNB), Ravencoin and Digitex Futures as top coins to follow in this month.
Bitcoin as an Interesting Asset to Follow in April
CoinCodex said the position Bitcoin holds in the ecosystem is a crucial one that puts it ahead of most cryptocurrencies, adding that it has the ability to attract more traditional funds than any other asset in the industry.
Bitcoin’s recovery after the March market crash ahead of other stocks, bonds, and commodities, is an important reason to know that the crypto-asset would attract more traditional fund.
The upcoming Bitcoin halving cannot be overemphasized due to its effect on Bitcoin’s price in the past. Thus, Bitcoin has the potential of staying ahead of many other crypto assets in the month of April, Coinodex asserted.
Bitcoin Cash Among the Coins to Watch in April
CoinCodex skipped Ethereum, XRP to pick Bitcoin Cash, an indication that market cap is not a criterion used by the analytical platform in picking the coins to watch in April 2020.
CoinCodex noted that Bitcoin Cash, similarly to Bitcoin, is having its halving. The halving of the cryptocurrency took place today, April 8, 2020. CoinCodex revealed that the halving, considering its past effect in 2012 and 2016, is a good indicator of market sentiment and would likely assist Bitcoin Cash price.
While Binance Coin (BNB) is an Important Coin to Watch in April
Binance Coin (BNB) is the native crypto-asset of largest crypto exchange Binance. CoinCodex asserted that Binance Coin (BNB) would leverage important developments the exchange has underway to better its situation.
The analytical platform highlighted key developments of Binance exchange such as the acquisition of CoinMarketCap, partnership with Brave browser among others as important factors that would assist Binance Coin (BNB) in the market.
CoinCodex added that Binance’s upcoming IEO project is another great reason that put the cryptocurrency among those to watch in April.
Digitex Futures (DGTX): An Important Coin to Watch in April
Quite unexpected, Digitex Futures made it into the list of crypto coins to watch in April as compiled by CoinCodex.
The team’s announcement that it would be launching a commission-free futures exchange brings more hope for the cryptocurrency. On April 27, the team would also be launching its DFE Mainnet that would be made available to a small group of traders initially before it goes live completely. These, CoinCodex said should help DGTX token.
Why is Ravencoin Important to Watch In April
The community-owned open source project Ravencoin is the last on the list of crypto assets to watch in April 2020, according to CoinCodex.
The analytic platform identified the upcoming Ravencoin fork that is to come up in April as a major condition for choosing the altcoin. The fork is designed to help update the networks Proof of Work mining algorithm used to control FPGA and ASIC miners. This allows the GPU miners to partake in the mining operation.
The last year fork of Ravencoin network bodes well for the cryptocurrency, therefore, much is expected of the imminent one.