Bitcoin usually made positive results in February, but this year made an unexpected start. BTC surprised investors by experiencing a $ 15,000 decrease between last Sunday and Mondays. However, despite these losses, the expectation of the market is still strong.
Fear can bring the opportunity to the market
Bitcoin’s last decline has declined from $ 106,000 to $ 91,000. Such large price movements can significantly affect market sensitivity.
Popular analyst Ali Martinez said that investors’ sensitivity to Bitcoin has returned to negative. The BTC fear and greed index has also moved to the level of “greed” to “fear” for the first time since the US elections in November.
Critical Support and Purchase Edition for Bitcoin
Martinez said that the level of $ 92,800 was a critical support. If Bitcoin can remain above this level, it may be possible to continue the rise trend.
Although the BTC has sagged several times below this support level in recent months, it has managed to recover quickly every time. This shows that the market still has a strong rise potential.
Intensive Bitcoin purchase in large stock exchanges
Investors in large crypto currency exchanges such as HTX and Bitmex entered an intensive purchase process. In the last day, the procurement pressure on these stock exchanges has increased significantly.
This shows that investors consider BTC’s low prices as an opportunity. If this trend persists, prices may be likely to rise again.
February is historically performing strongly
Although the BTC has started with a decrease of more than 5 %in February, the past data shows that this month is often tending to rise. In particular, in February, which followed the Halving year, there were strong rise. In 2021, Bitcoin rose by 37 %in February. In 2017, this rate was 23 %, while in 2013 it reached 62 %.
Although past data does not guarantee the future, history can sometimes repeat itself. February for BTC can offer new earnings opportunities to investors.
