The price of the leading cryptocurrency breached the $49,000 level amid Lunar New Year celebrations.
Data: TradingView.
Earlier experts noted that the linked multi-day spring festival in China historically had a negative impact on the bitcoin price.
The price of the leading cryptocurrency hit a new all-time high, surpassing $49,360 (on Bitstamp).
New all-time high for #Bitcoin!
— Michaël van de Poppe (@CryptoMichNL) February 14, 2021
CryptoQuant CEO Ki Young Ju says that further rise to $50 000 looks problematic. He highlighted the decline of the so-called Coinbase premium — the gap between spot prices on the US exchange and Binance.
Breaking 50k looks pretty tough as Coinbase premium becomes -$45
Chart 👉 https://t.co/gC1Jqrbn9b pic.twitter.com/LyVzZamlta
— Ki Young Ju 주기영 (@ki_young_ju) February 14, 2021
According to CoinGecko, the cryptocurrency market capitalization surpassed $1.5 trillion, with the digital gold dominance index below 60%.
Data: CoinGecko.
The XRP token from Ripple returned to fourth place in total market capitalization. According to the aggregator, the bitcoin price reached $49,067.
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news and polls.