The price of Bitcoin is following a wavy course in recent days. However, analysts say that February is a historical month for BTC. Past data shows that this month is full of rise. So, will Bitcoin be able to maintain the tradition this year as in recent years?
Why is February important for Bitcoin?
Crypto analyst Mister Crypto says February is usually profitable for BTC. Looking at the past data, BTC has an average of 14.46 %this month. Especially last year, a record increase of 43.55 %was experienced.
This year, BTC won 9.29 %in January. If history repeats, we can see a similar rise in February. Analyst Cryptogoos,
Bitcoin tended to rise every February. Why do you get different this year?
he expressed his expectation of ascension.
Bitcoin stuck on the threshold of $ 98,000!
On-Chain Analysis Platform Glassnode says that BTC has seen large volume transactions between $ 94,000 and $ 101,000. This price zone has become a critical support and resistance area for Bitcoin.
If the BTC can break the $ 98,000 level, the rise may accelerate. However, if it remains below this level, a correction may be experienced in the short term. “The longer the price remains in this range, the stronger the support and resistance zones will become,” Glassnode warned investors.
Can BTC reach the new summit in 2025?
Crypto analyst Mags predicts that Bitcoin will make a large rally until 2025. According to the graph it shares, BTC can reach $ 400,000 in the middle of the year. Charlie, another analyst, made an even more striking estimate. Compared to the 2017 bull market and the 2025 cycle, the analyst said that if history repeats, Bitcoin could see $ 940,000 by the end of the year.
For now, BTC is trading at $ 102.200. Although it depreciated 2.68 %in the last 7 days, investors are taking positions for a huge rise. Will history repeat for Bitcoin? Could February be the beginning of a new bull run for Bitcoin? We will wait and see!
