Bitcoin’s marathon is still going on, another week, another event and another high price. In recent time since December 2020 the world is observing the run of Bitcoin, the world is not observing 14th February is as usual valentines day, this day will be also remember for creating another high price of Bitcoin, it’s $49K. when it’s writing it’s almost 7hours later but still above $49K. So 50K USD is knocking at the door.
Expert of cryptocurrencies are indicating some issues whose are one of the main reasons for another hit of Bitcoin, a statistic shows the ratio of the market cap of Bitcoin is almost relative to the aggregated market cap of stable-coin, it also shows that when the Bitcoin price high then sideline capital starts reentering to the market, it’s a very logical reason to get high Price of Bitcoin. Because it’s real demand from the spot market.
Another important observation is the resistance of Bitcoin position which is almost above $38K for a long time, that’s why it’s getting credible to stay at a bearable digit because of some positive vibe in recent time. So let’s see what’s a minimum time to reach $50K.