If you are trading BTC and follow the latest Bitcoin news on our website, you probably know that today is a great day for the flagship cryptocurrency. As we can see, Bitcoin hit an April high today when it crossed the $7,719 mark hours ago.
Currently, BTC has a market cap of $141 billion while the total cryptocurrency market cap has climbed to $221 billion. As the dominant coin surged to its highest level in more than a month, market analysts are now optimistic that the coin will continue surging and eventually breach the $8,000 level.
Right now, we can notice that futures contracts are trading at a premium compared with spot prices. This has been historically a sign of near-term upside, and the prices have doubled since their low points in early March. Besides BTC, other cryptocurrencies enjoyed slight gains late in the week, too.
For instance, we can see how Ether (ETH) added 10.5% to its price in the past few days, arriving at $194. Bitcoin Cash (BCH) and Ripple (XRP) were also impressive in terms of their performance lately.
The altcoin news basically suggest that coins are in a good momentum and the price dominance of Bitcoin benefits them. As Bitcoin hit an April high today, we can also see that the coin is in a good position after its halving.
When it comes to the latest news from the market related to BTC, we can see that the Nigeria-based app Bundle launched this Thursday and is aiming to get more people in Africa to exchange money using cryptocurrencies. This app is funded by Binance and is very similar to Venmo, allowing users to send, receive and spend BTC.
Another important benefit to add are the $1,200 stimulus checks which have been popular among Americans. While most of them have been used for stacking purposes, we can also see that many Americans are buying Bitcoin. Now that Bitcoin hit an April high, the investment from these checks potentially made Americans richer.
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According to data, many are investing their entire checks in BTC.
As a reminder, if the stimulus check recipients had invested their $250 stipend during the last recession in 2009 in BTC when the coin was in maturity, their investment would be worth hundreds of millions now.
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