- March was a historic month for many cryptocurrencies but April promises to be more bullish.
- Bitcoin is tipped to lead broader market trend for the coming month.
As March draws its curtains to a close, Bitcoin (BTC), Shiba Inu (SHIB), Cardano (ADA), Ripple’s XRP, and WEN have been highlighted as the top four cryptocurrencies that are set for bullish transformation in April. These digital assets have been chosen to stand out in the coming months following signs of an upward trend in the market.
Bitcoin (BTC)
The month of March was favorable to Bitcoin as its price recorded an all-time high of $73,750. As of the time of writing, Marketcap data shows that Bitcoin is trading at $70,000, rebounding from its $61,000 monthly lows. This movement has caused the leading digital asset to be the center of attention, with anticipation that it would record a new all-time high as the new month begins.
Notably, Bitcoin’s price surge in March was primarily driven by the increased adoption of spot Bitcoin Exchange-Traded Fund (ETF) by institutional investors, which, however, experienced reduced inflows in the third week, as previously reported by Crypto News Flash. However, the stage is set for Bitcoin to attempt to increase its existing year-to-date gains of 65% to $70,494.22 at the time of writing.
Moreover, the halving event anticipated to occur in April could also cause Bitcoin’s price to rise astronomically. Expanding on what was earlier reported by Crypto News Flash, banking giant Standard Chartered gave a very bullish prediction for Bitcoin, stating that it could rally to $120,000 by the end of 2024, propelled by the halving event.
Shiba Inu (SHIB)
Shiba Inu (SHIB), a popular meme coin, which currently holds the position of the 11th largest cryptocurrency by market capitalization saw an increase of 30% in March. Currently trading at $0.00003082, with its market capitalization standing at $18 billion, SHIB is anticipated to take the crypto market by storm in the coming month.
A key driver contributing to SHIB’s impressive performance is the expansion of its Layer-2 ecosystem, Shibarium. As formerly reported by Crypto News Flash, the Shibarium network has exceeded 3 million transactions.
Cardano (ADA)
March wasn’t so cool for Cardano (ADA), as it struggled through with a nominal increase of 4% and the price is pegged at $0.6609. Due to this low growth, Dogecoin (DOGE) surpassed Cardano to take the eighth-largest cryptocurrency ranking.
Nonetheless, the month of April presents an opportunity for ADA to reclaim its position, especially with Avalanche in 10th place and with a $3 billion difference in their market capitalization. Additionally, recent developments around Cardano, including eclipsing Ethereum (ETH) in terms of developer activity, as formerly reported by Crypto News Flash, all boost the cryptocurrency’s chances of an uptrend.
XRP
Ripple’s native cryptocurrency, XRP is another coin to keep an eye on, particularly in light of the recent developments in the Ripple vs SEC case.
With Ripple having until April 22 to file its report, investors may expect a wild ride before and after the company presents its case against the potential penalties. Currently, XRP is trading at $0.6277, up by only 1.9% in the past 7 days, with its market capitalization pegged at $34 billion.
