• Bitcoin Cash (BCH) Rises Bullishly with Strong On-Chain Data Support

    Bitcoin Cash (BCH) is currently riding a bullish wave, but a drop below the daily Ichimoku cloud could signal a shift to a bearish trend.

    Investors should keep a close eye on key support and resistance levels to navigate potential market changes.
    Technical Outlook for Bitcoin Cash

    Bitcoin Cash (BCH) is currently trading at $507 inside the daily Ichimoku cloud. Exiting the daily Ichimoku cloud to the downside could reverse the bearish trend.

    A successful break above it could signal further bullish momentum.

    Key Fibonacci resistance levels to watch include the 0.382 level at $576.9, the 0.236 level at $631.1, and the 0.618 level at $489.4, which acts as critical support.

    On the 4-hour timeframe, BCH is trading above the Ichimoku cloud, indicating a short-term bullish trend.

    The price is currently hovering around the 0.618 Fibonacci level at $489.4, which acts as support. The 100-period Exponential Moving Average (EMA) at $475.9 also provides support, reinforcing the bullish outlook.

    The Ichimoku Cloud is a tool used in technical analysis to help identify trends in the market. Here’s a simple breakdown:

    Cloud: The shaded area on the chart shows potential support and resistance levels.

    When the price is above the cloud, it suggests an upward trend (bullish). When the price is below the cloud, it suggests a downward trend (bearish).

    Lines: There are several lines in the Ichimoku Cloud:

    Conversion Line (Tenkan): Shows the average price over the last 9 periods (candles).

    Base Line (Kijun): Shows the average price over the last 26 periods (candles).

    Leading Span A and B: These form the cloud and project future support and resistance levels.
    BCH Analysis: Demystifying On-Chain Data Insights

    Investors hold the majority of BCH, approximately 13 million coins, for over 52 weeks, showing strong long-term confidence. This indicates that a significant portion of the supply is held by investors who believe in BCH’s long-term potential, reducing selling pressure and providing price stability.

    Around 6 million BCH are held for 2-52 weeks, indicating medium-term holders who may be waiting for further price appreciation before considering selling.

    This group boosts overall holding power, reducing volatility and increasing the potential for a sustained upward trend. Less than 700K BCH are held for 0-2 weeks, showing minimal activity from short-term holders.

    This indicates low speculative trading, a positive sign for market stability, as it suggests fewer sudden sell-offs and more consistent price action driven by longer-term investors.

  • BlockDAG’s Smart Platform, Dashboard Eclipses Bitcoin Cash Surge | Ethereum ETF Concerns With 30,000x ROI Potential

    In the dynamic world of cryptocurrencies, innovation is key to attracting sustained investor interest. While Ethereum faces regulatory hurdles with ETF approvals and Bitcoin Cash experiences a price surge, BlockDAG steals the spotlight. With its latest dashboard improvements and an innovative low-code/no-code smart contracts platform, BlockDAG is redefining ease of access in the crypto world, positioning itself as the leading investment for 2024 with potential returns of up to 30,000x.

    Ethereum ETF Approval Faces Challenges

    Despite high hopes following the approval of Bitcoin ETFs, the outlook for Ethereum ETFs is growing dimmer. Nate Geraci, ETF Store president, points out that for an Ethereum ETF to launch, the U.S. SEC must approve not just the registration statement but also trading rule changes. With the SEC’s current focus on reviewing Ethereum-based ETF applications and the lengthy statutory decision period of 45 to 240 days, it appears unlikely that approval will come by the expected May 23 deadline, casting doubt on the immediate availability of Ethereum ETFs.

    Modest Optimism for Bitcoin Cash Price Increase

    Bitcoin Cash (BCH) has shown some life with a recent peak at $478, though it lags behind competitors like Solana. Despite a 15.8% increase over three days, driven by a spike in large transactions suggesting a potential breakout, caution remains as the price hovers around $472. While there’s institutional interest potentially pushing the price toward the $500 mark, resistance near $491 could lead to a pullback to around $450.

    BlockDAG’s innovative dashboard is revolutionizing how investors interact with cryptocurrency. With a recent surge raising $32.9 million from over 9.8 billion BDAG coins sold, the presale price has already jumped by 800%, with forecasts suggesting it could reach $1 by year-end. The dashboard’s user-friendly design includes features that enhance transparency and user engagement:

    • Activity Tracking: Investors can monitor their actions alongside others, promoting a community-driven environment.
    • Trending News: Users receive the latest updates directly on their dashboard, keeping them informed on vital developments.
    • Comprehensive Wallet: This feature allows for streamlined purchases, balance checks, and transaction management.
    • Leaderboard: Displaying the top 30 investors encourages a competitive atmosphere, motivating users to increase their investments.
    • Transaction History: This page provides a detailed record of user transactions, fostering greater transparency and trust in the platform.

    Moreover, BlockDAG’s smart contract platform offers templates for NFTs, meme coins, and utility tokens, making it easier for those without deep coding knowledge to participate in and benefit from the crypto economy.

    As Ethereum struggles with ETF approvals and Bitcoin Cash aims for modest gains, BlockDAG sets itself apart with a powerful suite of tools that make investing both accessible and potentially highly lucrative. With its state-of-the-art dashboard and smart contracts platform, BlockDAG is not just participating in the crypto market; it’s leading it, promising substantial 30,000x returns for those who engage early.

  • Cardano founder proposes Bitcoin Cash integration in X poll

    Cardano founder Charles Hoskinson recently posted a “hypothetical poll” on the X social media platform asking the crypto community if they’d like to see a Cardano and Bitcoin Cash integration. 

    The poll received more than 12,000 votes in its first 24 hours with a 66.3% early majority voting “Yes” to the proposal.

    Source: Charles Hoskinson

    As mentioned above, Hoskinson labeled his poll as being hypothetical. However, as Elon Musk has shown since his purchase of the X platform, it’s possible to use the platform as a steering point for decision-making.

    “Would you like to see Bitcoin Cash become a Cardano Partnerchain upgraded with Useful Proof of Work Leios, NiPoPoWs, and Ergo tech, thus being the fastest and most useful proof of work chain ever built?”

    Ben Scherrey, founder and chief technology officer of blockchain firm Biggest Lab, posted commentary in favor of the move, stating that he’d “always thought there was some natural synergy between the two chains given the shared UTXO model that allows for high scalability and decentralization.”

    While the community appears to support the idea of a Bitcoin Cash and Cardano integration, how such a partnership would form and function is a bit murky.

    On the technology side, Hoskinson used the term “partnerchain.” This seems to imply Bitcoin Cash

    $497 would have to be bridged or cross-chained in some form in order to operate with the proposed upgrades.

    Assuming both development teams could agree on the technical aspects of the partnership, there would still need to be a consensus among stakeholders and developers.

    Hoskinson’s discourse on social media comes as Cardano prepares for two “major upgrades” in 2024. As Cointelegraph recently reported, the company is preparing for the “Chang” hard fork slated for sometime in the second quarter of 2024, as well as a new proof-of-stake model called “Ouroboros Leios.”

    Hoskinson lauded the pending upgrades in his response to an April 7 video posted by crypto influencer Ben “Bitboy” Armstrong. In the video, Armstrong referred to Cardano as “dead.”