Roses are red, violets are blue, Bitcoin hits $49K and a new all-time high too

Cointelegraph

Published Feb 14, 2021 05:00AM ET

Updated Feb 15, 2021 07:20AM ET

The price of Bitcoin (BTC) achieved a new record above $49,000 on Valentine's Day on Feb. 14, rising to as high as $49,344 on Coinbase.

There are three main reasons Bitcoin surged to a new all-time high, namel high stablecoin inflows, clean break of the $38,000 resistance area, and a prolonged consolidation phase.

BTC/USD 4-hour price chart (Coinbase). Source: TradingView.com
Stablecoin Supply Ratio. Source: CryptoQuant

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