Bitcoin February Performance: On The Right Track

Bitcoin February Performance: On The Right Track

As the weekend ends, so does February’s month of trading and next week begins the first full week of March’s trading. This makes it the perfect time to look at how Bitcoin has fared over the last 28 days.

In the modern days of trading in cryptocurrency, there are no such things as easy months or even easy weeks with the market in constant fluctuation. February was no different and as always, there was a lot of topic for discussion in the world of Bitcoin, with some worrying falls but also, some impressive highs too.

The Good News

This month saw more of the latter, which will be a welcome relief to traders who have no doubt been fretting for a full 12 months prior amid the crypto winter. Overall, the month has seen the coins total value increase by 11%. The first time it has an increased in nearly 7 months.

There were also several instances in the short 28 days of February, where the currency saw large surges in value that were more than welcome. In the latter half of the month, Bitcoin reached past the $4000 mark while other cryptocurrencies followed suit and also saw increases, some of which by more than 18%.

This had led some more optimistic sections of the crypto community feeling as if a crypto spring is on the way, while Chinese Bitcoin Billionaire, Zhao Dong even predicted that by 2020 Bitcoin could exceed values of $50,000.

Of course, for all investors, hearing these positive words of encouragement from big players and finally, some improvements in the market has meant that a lot of people have been feeling the only way is up. With many hoping there be a second Bitcoin boom on the horizon.

The Bad News

It has not all been plain sailing for Bitcoin in February though. The highs of $4000 last weekend which led to so much excitement were quickly followed by dramatic falls within hours of over nearly $400. This brought a lot of those idealists down to earth very quickly. This failure to stay above $4000 has led some to believe that it signifies a downward trend overall.

However, those who believe have pointed to the facts. These include Dan Hedl, co-founder of Interchange. Hedl took to Twitter to oppose the claim the bitcoin bubble was set to pop, by merely pointing towards its yearly lows, which have increased continuously since 2012. Even last year saw more than four times the value of the lows of 2017.

Going into March…

It doesn’t make sense to doubt the coin with a whole year ahead of us and so much happening in the market. Particularly as Bitcoin has started March well by maintaining a $37,000 value while most other currencies dropped on Saturday. As such, February finished with Bitcoin in nice form and as it is looking strong going into March, maybe there will be more for Bitcoin investors to celebrate. The next 30 days will be the test of whether we are truly heading into a big year for Bitcoin.

Recently Similar News

casinoin-promotion etoro-promotion

Latest Guides

Latest News

AvaTrade,Bitcoin,Investment,Market Decrease

AvaTrade Describe Bitcoin as “Safe Haven” From Market Turmoil

After a disastrous week for investment following the huge sell-offs in crucial international markets due to growing coronavirus concern, many are concerned about trading in this current climate. However, Avatrade is arguing the contrary and see the current situation as an opportunity for investors. They had already shared this belief earlier this week when they […]

28 February, 2020
KuCoin,Margin Trading,Promotion

KuCoin Launch 3 Ultra-Low Interest On Leverage Activities

Any traders looking to get involved in some crypto margin trading should make sure they are at KuCoin from today onwards. This is owed to the platform’s launch of 3 Ultra-Low Interest for Leverage Activities on their margin trading service – which was rolled out at the end of 2019. The activities will begin today, […]

27 February, 2020
DeversiFi,Metal Trading,Stablecoin,Tether

DeversiFi Have Listed Tether Gold (XAU₮) In World First Listing

DeversiFi have listed Tether Gold (XAU₮) making them the first non-custodial exchange platform to do so. The formality of the listing occurred two days ago and so this means that any traders hoping to buy, sell or store Tether Gold (XAU₮) can head over to DeversiFi immediately and do so by making use of a […]

27 February, 2020
Investment,IQ Option,Trading

Avoid Trading Mistakes with IQ Option

The world of trading is one that is predominantly about trial and error and in their latest blog post, the trading platform, IQ Option have explained how to avoid the latter. IQ Option are a firm that are continuously helping traders learn to trade more efficiently. Whether that is by informing them about good trading […]

26 February, 2020
AvaTrade,Investment,Market Decrease,Trading

Market Sell-Off Was “Overreaction” Says Avatrade

Yesterday, the US market saw its worse sell-off in two years due to fears that emerged about the Coronavirus spreading. However, Avatrade have stated that traders should not be too concerned about these numbers. Although Avatrade has been somewhat pessimistic about the role of the Coronavirus and what it might do the global economy in […]

25 February, 2020
Binance Research,EOS,Investment

Binance Research Asks, “Is EOS Too Centralised?”

In the latest piece of research from the exchange platform, Binance they have asked whether the highly ranked EOS crypto project is too centralised. Specifically, this question was conceived and analysed by Binance Research who are well-known for their various reports that give an insight into different market trends and what they mean for the […]

24 February, 2020
Coinbase,Coinbase PRo,Listings,Updates

KNC Now live on Coinbase Pro

It has been announced by Coinbase that the Kyber Network (KNC) will go live on the platform as of this week. During the last quarter of 2019, news from the Coinbase camp came at an uncharacteristically slow pace. There were very few updates to the platform and hardly any new listings for traders to embrace […]

23 February, 2020
Investment,IQ Option,Technical,Trading

IQ Option Explain Why You Need a Trading Journal

Keeping track of your trading is a necessity. However, is a trading journal the best way to go about it? Well, according to the CFD trading platform, IQ Option, for most people it is. In fact, the platform describes trading journals as a “must” for a “successful goal-oriented trader”. Indeed, it is clear to see […]

22 February, 2020