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

trueflip-promotion bitamp-promotion

Latest Guides

Latest News

Bitcoin,CoinMarketCap,Cryptocurrency,Trading

CoinMarketCap Launches CoinMarketCap Earn

CoinMarketCap is launching a program where you can earn cryptocurrency by educating yourself. CoinMarketCap, the popular website that lets you track any cryptocurrency’s market cap or trading patterns, is launching a program that will allow users to start earning difference cryptocurrencies through educational campaigns. It is easy to start earning, all you have to do […]

14 August, 2020
Bitcoin,CFD Trading Platform,Cryptocurrency,Trading

IQ Option Breaks Down Four Basic and Crucial Trading Concepts

IQ Option breaks down four basic but extremely important concepts if you are interested in trading ANY asset (especially cryptocurrency): picking your asset, fundamental analysis, technical analysis, and risk management. As a trading platform, it makes sense that IQ Option would like to have more educate traders so they will hopefully perform more trades on […]

14 August, 2020
Bitcoin,Casino,Cryptocurrency,Gambling

BitStarz Starts Free Spin Wednesday

BitStarz, the cryptocurrency casino, is offering free spins every Wednesday based off casino deposits. The BitStarz cryptocurrency casino is offering a new promotion to all of its users, free spins every Wednesday starting next week. Qualifying for this promotion is easy and is open to all BitStarz users. In order to qualify for free spins, […]

13 August, 2020
Bitcoin,Crypto Wallets,Cryptocurrency,Trezor

Trezor Asks If You Have Been Accidentally Mining Bitcoin

Trezor, the popular cryptocurrency hardware wallet, wants to bring to light the problem of Bitcoin malware, where a parasitic computer virus uses your excess computing power to mine Bitcoin on someone elses behalf. Trezor brings to light an important and sometimes overshadowed issue in the Bitcoin community, parasitic Bitcoin mining malware. Bitcoin mining is a […]

13 August, 2020
Cryptocurrency,Exchange Platforms,EXMO,Trading

HAI vs. 4ART: Voting For the Next Listing on Exmo

The Exmo Exchange is hosting a voting competition to decide which cryptocurrency they next list for trading on their exchange: HAI or 4ART The Exmo Exchange has announced that they will be hosting a competition to see which cryptocurrency will next be listed on their exchange between HAI and 4ART. To participate in this vote, all […]

12 August, 2020
Crypto Wallets,Cryptocurrency,Ledger,Ledger Nano X

New Ledger Model S Firmware Available

The extremely popular hardware wallet, the Nano Ledger Model S has a new firmware update available with some new additions and upgrades. The Ledger Model S hardware wallet has a new firmware update to 1.6.1 focusing on highlighting new and exciting upcoming features. Two of the main features that are showcased in this update is […]

12 August, 2020
Bitcoin,Cryptocurrency,eToro,Trading

eToro’s Weekly Roundup Points to Bitcoin Bulls

The popular trading platform eToro has released their weekly cryptocurrency roundup, highlighting the Bitcoin bull run, especially the impact from Asian markets, as well as the impact of DeFi. eToro has released their weekly cryptocurrency roundup, mainly highlighting the current bull run that Bitcoin and the entire cryptocurrency market as a whole is experiencing. eToro […]

12 August, 2020
Bitcoin,cfd,Cryptocurrency,Trading

XTB Notes Bitcoin Market Sentiment Hits Yearly High

As Bitcoin breaks and now reproaches breaking the critical resistance point of $12,000 per BTC, market sentiment surrounding Bitcoin is at a yearly high. With global socioeconomic instability, many are searching for the safest assets to be able to protect and store value. After closing in and briefly breaking the $12,000 per Bitcoin mark, the Bitcoin […]

12 August, 2020