Bitcoin Climbs Over $5,100 as Top Cryptos See Solid Gains

April 7, 2019

Sunday, April 7 — most of the top 20 cryptocurrencies are seeing moderate to notable gains on the day by press time, as Bitcoin (BTC) climbs over the $5,100 mark.

Bitcoin’s price has seen a gain of two and a half percent on the day, trading at around $5,156 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is a solid 20% higher than $4,095, the price at which Bitcoin started the week.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bloomberg analyst Mike McGlone claimed earlier this week that Bitcoin is at its most overbought level since its record highs in December 2017. Also, leading United States derivative market CME Group pointed out that its Bitcoin futures reported record trading volumes on April 4.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is currently at about $17.7 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $15 billion by press time.

Ongoing Tension Between El Salvador and the IMF Over Bitcoin Adoption

Cryptocurrency vs. Traditional Finance: Which is Better?

The Dark Side of Cryptocurrency: Scams and Risks to Avoid

Blockchain in Today’s Realities: Transforming Industries and Shaping the Future

Is Bitcoin’s weekly drop a buying opportunity?

Bitcoin targets $70,000 as stablecoin inflows and China’s stimulus drive rally

ETH is up by 2.12% over the last 24 hours. At press time, ETH is trading around $168, after having started the day at $163. On its weekly chart, ETH has seen its value increase by almost 19%.

Ethereum 7-day price chart. Source: CoinMarketCap

Second-largest altcoin Ripple has gained one and a half percent over the 24 hours to press time, and is currently trading at around $0.36. Looking at the coin’s weekly chart, its current price is over 16% higher than the price at which it started the week.

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the one reporting the most notable gains is Ethereum Classic (ETC), which is up over 20% on the day to press time.

Bitcoin Cash (BCH) has also seen notable daily growth, up 11% to press time. On the week, BCH has seen massive growth of 91%.

The total market cap of all cryptocurrencies reached $180 billion today, which is almost 25% higher than $144.3 billion, the value it saw one week ago.

Earlier this week a Japanese news outlet reported that G20 member countries will meet to discuss international cryptocurrency Anti-Money Laundering (AML) regulation on June 8 and 9 in Fukuoka, Japan.

undervalued.top is a great website to read in-depth cryptocurrency reviews. Looking for the most promising altcoins? Learn more at www.undervalued.top

Like it? Share it with your friends!

Bitcoin ETFs Maintain Bullish Momentum: Positive Streak of 8 Days Holds Price Above $60,000

The Bitcoin market has shown remarkable resilience and upward momentum over the past few weeks, with a significant factor driving this performance being the inflow into spot Bitcoin exchange-traded funds (ETFs). These ETFs, which directly hold Bitcoin, have seen eight consecutive days of positive inflows, helping to keep the cryptocurrency’s price stable above $60,000. As of October 2024, Bitcoin is hovering around the $63,900-$64,000 mark, with bullish sentiment continuing to dominate the market. This recent surge in Bitcoin’s price can be largely attributed to a combination of positive developments in the ETF market. Spot Bitcoin ETFs play a unique role in the broader crypto ecosystem as they generate real buying pressure by purchasing Bitcoin directly, unlike futures-based ETFs that merely speculate on the price of Bitcoin. As a result, the market has witnessed a tangible uptick in demand for BTC, which has helped sustain prices at these elevated levels. 8 Days of Positive Bitcoin ETF Inflows Since September 19, 2024, spot Bitcoin ETFs have experienced eight days of net positive inflows, indicating strong investor confidence in Bitcoin as an asset class. During this period, Bitcoin’s price has remained firmly above $63,500, demonstrating resilience even amid fluctuating global economic conditions. This bullish trend in the ETF market suggests that institutional investors are increasingly turning to Bitcoin ETFs as a safe and profitable investment vehicle. On Monday, September 30, Bitcoin ETFs reported a net inflow of $61.3 million, according to data from SosoValue. Although this figure was 87% lower than the $464 million inflow recorded on Friday, September 26, it still reflects an ongoing positive trend. The overall inflows indicate that investors are continuing to view Bitcoin as a hedge against traditional market volatility and inflation. BlackRock, one of the world’s largest asset managers, led the way with $72.1 million in inflows on September 30, followed by Fidelity with $8.3 million. However, not all ETFs mirrored this positive trend. Ark’s ARKB fund and 21Shares, which had seen significant inflows on the previous Friday, reported net outflows of $9.5 million. Similarly, Bitwise’s BITB and Grayscale’s GBTC saw either outflows or flat trading volumes on Monday, reflecting a more cautious stance among some investors. Despite these mixed results from individual funds, the broader picture remains overwhelmingly positive for the Bitcoin ETF market. Over the past eight days, over $1.4 billion has been invested in Bitcoin ETFs, underscoring growing confidence in Bitcoin as an asset class. Additionally, the overall trading volume for the 12 Bitcoin ETFs traded on U.S. stock exchanges fell to $1.37 billion on Monday, down from $1.87 billion on Friday. This lower volume indicates a slight slowdown in trading activity but does not detract from the overall positive sentiment. A Growing Demand for Bitcoin-Linked Investment Products The surge in demand for Bitcoin ETFs reflects a broader trend in the financial markets, where traditional investment products are increasingly integrating digital assets into their portfolios. In the last three weeks, Bitcoin ETFs have accumulated over $1.9 billion in net inflows, marking three consecutive weeks of positive investment activity. This growing interest in Bitcoin-linked products signals a shift in the perception of Bitcoin, from a speculative asset to a legitimate store of value. A key reason for the bullish sentiment surrounding Bitcoin ETFs is the unique structure of spot ETFs. Unlike futures-based ETFs, which speculate on the future price of Bitcoin, spot ETFs directly purchase Bitcoin. This creates actual demand for the cryptocurrency, as these funds must hold the underlying asset. As more investors pour money into these ETFs, the buying pressure on Bitcoin increases, leading to upward price movements. This dynamic has been particularly evident in recent weeks, as inflows into Bitcoin ETFs have helped sustain the cryptocurrency’s price above the critical $60,000 threshold. Many market analysts believe that this trend will continue in the coming months, particularly as institutional investors seek safe-haven assets amid ongoing economic uncertainty. Bitcoin Price Stability and Future Outlook As of the writing of this article, Bitcoin is trading at around $63,900, reflecting a period of relative stability in the market. Historically, October has been a bullish month for Bitcoin, and many analysts believe that this year will be no different. With continued positive inflows into Bitcoin ETFs and growing institutional interest, there is a strong expectation that Bitcoin will maintain its upward trajectory through the final quarter of 2024. The stability in Bitcoin’s price is also supported by broader macroeconomic factors, including inflationary pressures and geopolitical tensions. As traditional markets continue to face volatility, Bitcoin is increasingly being viewed as a hedge against economic uncertainty. This perception is further reinforced by the fact that major financial institutions like BlackRock and Fidelity are now offering Bitcoin-linked investment products to their clients, legitimizing Bitcoin as a mainstream asset. In addition to institutional demand, the Bitcoin ETF market has also benefited from increased retail investor participation. Many individual investors are turning to Bitcoin ETFs as a way to gain exposure to Bitcoin without the complexities of directly purchasing and storing the cryptocurrency. This trend is expected to continue as more ETF providers enter the market and offer products tailored to retail investors. Conclusion: A Bullish End to 2024? The ongoing streak of net positive inflows into Bitcoin ETFs is a clear indicator of growing confidence in Bitcoin as a long-term investment. With over $1.4 billion invested in these funds over the past eight days, and total inflows exceeding $1.9 billion in the last three weeks, the market is signaling a strong bullish sentiment for Bitcoin as we head into the final quarter of 2024. As Bitcoin continues to trade around the $64,000 mark, there is a solid foundation for further price appreciation in the coming months. October has historically been a positive month for Bitcoin, and with ETF inflows showing no signs of slowing down, the cryptocurrency is well-positioned to end the year on a high note. For investors looking to gain exposure to Bitcoin, spot ETFs offer a unique opportunity to benefit from the cryptocurrency’s price movements without the >>Read more
>>Read more
Optimal Timing for Sports Betting Philippines: Early vs. Late Bets

Mastering handicapping skills is crucial for bettors at all levels. Deciding between early or late wagers is subjective, with each approach having merits. Understanding these nuances can significantly impact your success in sports betting in the Philippines. Early and Late Bets in Sports Betting Philippines Early Betting Seizing Initial Opportunities Betting early offers a chance to exploit potential market flaws. Despite their expertise, sportsbooks aren’t infallible and might misjudge the odds, particularly in less popular sports. While major leagues seldom see significant point spread errors, the initial line might not accurately represent informed bettors’ consensus. This discrepancy prompts rapid adjustments by oddsmakers. Placing bets early allows you to capitalize on initial odds, which could be undervalued or overvalued before subsequent corrections occur. Late Betting Capitalizing on Last-Minute Advantages Conversely, waiting until closer to game time presents its advantages. Late bets might uncover overlooked value, especially on the underdog, if public sentiment significantly shifts the odds in favor of the expected favorite. Moreover, waiting provides more time to assess critical factors like player injuries. Information about injuries, practice developments, or sudden lineup changes can significantly influence the game’s outcome. Waiting until closer to the event allows bettors to incorporate the latest news and make informed decisions. Conclusion Timing is Context-Dependent Determining the best time to place bets in online sports betting is about more than finding a universal rule. It’s about evaluating multiple factors. Each bet’s value is contingent upon various elements, akin to how choosing the right sports betting site requires careful consideration. Consider the dynamics of each sport, odds movement, injury updates, and other pertinent factors. Early or late betting decisions should align with a comprehensive analysis of the available information. Before placing a wager not just in sports betting but in the online casino in the Philippines too, meticulously assess the situation, as you diligently choose the best live sports betting site. Ultimately, the key lies in informed decision-making rather than a fixed timing strategy. In sports betting, choosing the best time to place a wager is a dynamic process that depends on constantly changing information. Both early and late betting have advantages, but success hinges on astute analysis and informed decision-making. Frequently Asked Questions What factors should I consider when deciding whether to bet early or late? Various factors influence the optimal betting time, including injury reports, lineup changes, public sentiment, and odds movement. Analyzing these aspects can guide your decision. Is it riskier to bet early due to potential odds changes? Betting early may carry the risk of odds adjustments, but it also presents opportunities to capitalize on initial inaccuracies in the lines. Assessing risk involves considering the likelihood of significant line shifts. Can waiting until the last minute give me an advantage in sports betting? Late betting allows you to incorporate the latest information, such as injury updates or unexpected developments, providing a potential advantage over early bettors. However, it’s essential to weigh this against possible odds changes. How can I protect myself from unforeseen changes if I bet early? To mitigate the risks associated with early betting, stay informed about the sport, monitor news and injury reports regularly, and consider using strategies like hedging or live betting to adjust your position as new information arises. Is there a one-size-fits-all strategy for determining the best betting time? No fixed rule applies universally. The optimal betting time varies based on individual preferences, the sport in question, and the availability of crucial information. It’s essential to analyze each situation independently.
>>Read more
New German Gambling Framework Opens the Door to Gambling with Crypto

Germany has been trying to pass a new legal framework that covers online gambling for a while. The first three attempts have failed because the European Union rejected certain parts of the new law under the argument, that they don’t comply with EU regulations. The country presented its revised fourth version of the “State Treaty of Gambling” to the European Union and it’s expected that it will be approved this time around. One of the main goals of the treaty is to protect the players by adding deposit limits and betting limits, as well as other measures like more information about gambling addictions and how to handle them. The other important part is related to changes in the taxation of online gambling operators licensed by the country. The flexible approach will be based on the turnover of each site. The small players on the market (up to €40 million) will pay 2% of the turnover. The percentage goes down for bigger companies, but they also have to pay an additional fixed fee. While the new gaming framework doesn’t specifically mention cryptocurrencies in any way, there is no reason to believe it restricts operators that allow their customers to use Bitcoin for online gambling. Nothing seems to be stopping them from applying for a license and providing German users with a safe and regulated environment for online gambling. Furthermore, such a legislation framework might open the door for countries in the European Union. If they follow the same path and apply reasonable fees, the online crypto-gambling industry could very well leave the grey area it currently resides. Of course, the gambling treaty must be approved by the European Court and at least 13 of the 16 federal states in Germany. If that’s the case, it will be applied from June 1st, 2020 and that’s when we’ll truly understand its effect on the crypto world.
>>Read more
Bitcoin Hashrate Records New ATH Surpassing 740 EH/s

On September 3rd, the Bitcoin network hash rate reached a historic peak, surpassing 740 exahashes per second (EH/s). This milestone comes as Bitcoin’s price hovers below $60,000, reflecting a curious dynamic between the network’s underlying strength and its market value. The increasing hash rate highlights the resilience of Bitcoin’s infrastructure, even amid short-term market volatility. What Is Hash Rate? Understanding Hash Rate The hash rate is a measure of the computational power being used to process transactions and mine new Bitcoin blocks on the network. It refers to the number of calculations performed per second by miners trying to solve the cryptographic puzzles that validate Bitcoin transactions. In simple terms, a higher hash rate means more computational resources are being devoted to securing the network. The Significance of Bitcoin’s Hash Rate A higher hash rate strengthens network security by making it more difficult for malicious actors to manipulate transactions. It demonstrates the confidence of miners in Bitcoin’s long-term prospects, as increased investment in computational power shows continued trust in the network. Hash rate growth often signals potential bullish market movements, particularly before major events like Bitcoin halvings. Bitcoin’s Hash Rate Surges Despite Price Drop Contradicting Market Trends Interestingly, Bitcoin’s hash rate has continued to rise even though the currency’s price has declined by over 10% this week. This highlights a disconnect between Bitcoin’s network fundamentals and its short-term market pricing. While prices fluctuate due to market sentiment, speculative trading, and global economic factors, the hash rate reflects a more stable and long-term investment in the network’s infrastructure. Advancing Mining Technologies One of the key drivers behind the surge in Bitcoin’s hash rate is the deployment of more advanced mining equipment by industry leaders. Whatsminer and MicroBT have both launched new high-performance mining rigs. Whatsminer has introduced four new mining machines, along with plans for a solar-powered mining container system, allowing miners to take advantage of renewable energy sources. MicroBT’s M6XS+ miners are another major advancement in mining technology, offering processing power between 190 and 450 terahash. These rigs are designed to increase efficiency and further boost the network’s overall hash rate. Industry Expansion and Investment Riot Platforms’ Acquisition of Block Mining In addition to technological advancements, the mining industry is also seeing significant consolidation and expansion. For example, Riot Platforms, one of the leading Bitcoin mining companies, recently purchased Block Mining for $92.5 million. This acquisition is aimed at enhancing Riot’s hash rate and strengthening its market position. Exploring New Opportunities Beyond traditional mining expansions, the industry is looking into integrating artificial intelligence (AI) to address challenges such as identity verification and fraud detection. Miners are also considering future acquisition opportunities to expand their operations and further enhance network security. The Impact of a Rising Hash Rate Strengthening Bitcoin’s Network Security While the hash rate doesn’t directly affect Bitcoin’s price, it plays a critical role in securing the network. A higher hash rate reduces the likelihood of a 51% attack, where malicious actors could gain control of the network by commandeering more than half of its computational power. This makes the network more robust and less vulnerable to attacks. Hash Rate Milestones and Bullish Market Moves Historically, significant increases in the Bitcoin hash rate have preceded bullish market movements. In many cases, hash rate milestones are followed by price surges, particularly around key events like Bitcoin halving, which reduces the reward for mining new blocks and creates upward pressure on the currency’s price by limiting its supply. Bitcoin’s Halving Events Bitcoin’s halving events occur approximately every four years, cutting the rewards miners receive for validating transactions in half. This reduction in rewards decreases the rate at which new Bitcoin enters circulation, often resulting in supply shortages that drive up the price. Miners generally ramp up their operations ahead of halving events, leading to a rise in the network’s hash rate as they seek to earn more Bitcoin before the rewards decrease. Political and Environmental Factors Supporting Mining Growth Favorable Political Conditions Bitcoin mining is increasingly benefiting from supportive political conditions in several regions around the world. Governments in countries like the United States and Kazakhstan have embraced cryptocurrency mining, with some offering incentives for companies to set up operations in their territories. These favorable political environments are helping miners expand their operations and invest in advanced infrastructure. Shift Toward Sustainable Mining Environmental concerns have historically been a contentious issue for Bitcoin mining, which consumes vast amounts of energy. However, there has been a notable shift toward sustainable mining practices, with many companies adopting renewable energy sources to power their operations. Examples of Sustainable Mining Initiatives Whatsminer’s new solar-powered mining container system represents a significant step forward in reducing the environmental impact of Bitcoin mining. Several major mining companies are exploring ways to integrate wind, solar, and hydroelectric power into their operations, further reducing their carbon footprints. In certain regions, political incentives and regulatory policies are promoting the use of green energy in cryptocurrency mining, enhancing its long-term sustainability. The Future of Bitcoin Mining Continued Investment and Expansion Bitcoin’s rising hash rate reflects a growing confidence in the cryptocurrency’s long-term viability. Despite market fluctuations, miners are doubling down on their investments in advanced technology and expanding their operations to meet the increasing demand for network security. As more players enter the mining industry and existing companies grow their infrastructure, Bitcoin’s hash rate is expected to continue rising. AI Integration and Industry Evolution The potential integration of AI into mining operations represents an exciting frontier for the industry. AI can be used to streamline processes, improve efficiency, and address persistent issues such as identity verification and fraud prevention. As miners explore these new technologies, they are positioning themselves to remain competitive in an evolving landscape. Conclusion Bitcoin’s Rising Hash Rate: A Sign of Confidence The new all-time high in Bitcoin’s hash rate, surpassing 740 exahashes per second, is a clear indicator of the growing confidence in the cryptocurrency’s long-term sustainability. Despite recent price drops, the continuous investment in mining infrastructure, advancements >>Read more
>>Read more
A First-time Business Owner’s Guide to Accounting

It takes first-time business owners, uncommon passion, and perseverance to turn a great idea into a living. Starting a company is challenging, especially if you lack a background in business and don’t have the required accounting training. But with the right tools, anyone with the drive to succeed can launch a business. When it comes to accounting, you need to first understand the basics so you can determine if it’s best to do your accounting yourself, use the software, hire an in-house accountant, or work with an outside accounting consultant. Essential Work Accounting is a term commonly used in the business arena, especially during the tax season. It refers to the systematic recording of financial transactions of your small business. Careful accounting is essential to every business. It helps you track income and expenditures, provide investors with quantitative financial information, ensure statutory compliance, and come up with accurate financial projections. Three vital financial statements are often generated based on your business’s accounting record: your income statement, balance sheet, and cash flow statement. Together, these reports create a clear picture of your business’s financial position and the profit it makes. To ensure that your business stays afloat, you have to keep your financial records up-to-date. Here are a few reasons why accounting is crucial for your small business: It helps evaluate your business’s performance by helping you understand what’s going on with your business financially and compare the current data with previous accounting records to allocate budget efficiently. Proper accounting records help you stay legally compliant by appropriately addressing liabilities like sales taxes, value added taxes, income taxes, pension funds, etc. Your financial records play a vital role in helping you create a budget and future projections based on historical data so that your operations remain profitable. Getting Started Before you officially launch your business, you should properly set up your accounting administration. Accounting can sometimes feel like the most tedious aspect of running a business, but it’s vital to stay on track, especially during the tax season and early business stages. Here’s a quick checklist that will help you set up your financials: Open A Business Account When you start your business, you need an account to hold all your income. You also have to keep your personal and business finances separated to avoid complications during the tax season. When opening a business bank account, choose a bank that fits your needs. Start with a savings and a checking account. You can keep your revenue in the checking account and hold a percentage of your money in the savings account to pay off taxes at the end of the year. Track Your Expenses Often, small business startup expenses are tax-deductible. However, to claim these deductions, the IRS needs you to record every cent you spend. Take special care to hold on to the receipts, bills, invoices, bank and credit card statements, canceled checks, proof of payments, previous tax returns, W2 and 1099 forms, and any other financial statements. Payroll Management Payroll management requires three steps: preparing your payroll, paying employees, and accounting for post-payment. Typically, employers create a separate payroll bank account for paying employees with checks or direct deposit. Is Assistance Necessary? An accountant is highly skilled at handling all the essential financial tasks associated with running a business. They can manage everything from bookkeeping to preparing financial documents and financial planning. A certified public accountant (CPA) is someone who has passed the state’s uniform CPA exam and meets both the education and experience requirements of the state their practice in. They are capable of offering advice, ensuring you make the right business decisions. The potential disadvantage of hiring an accountant is the added expense. However, your CPA can advise you on tax credit deductions, helping you increase your profits. Furthermore, they can also decrease the liability of mistakes in your tax filing, protecting you from penalties and interest. By working with an accountant, you can save a lot of money in the long run and up more of your time to focus on running your business. If you do decide to go this route, start by running a simple Google search on “a small business accountant near me” and look for one that offers accounting and tax services. Knowing Your Numbers Starting a business is an overwhelming process, but even novices can handle accounting and bookkeeping with research and preparation. However, doing your accounting may not be the best decision for your company, as mistakes are easy to make, and you’ll likely be needed elsewhere.
>>Read more

Bitcoin Climbs Over $5,100 as Top Cryptos See Solid Gains

Like it? Share it with your friends!

Related Posts:

Cryptocurrency vs. Traditional Finance: Which is Better?

The Dark Side of Cryptocurrency: Scams and Risks to Avoid

Bhutan holds double the bitcoins of El Salvador

Israel’s Move Toward a Cashless Society: Impact of Removing 200 Shekel Bills