Why February Could Be Bullish For Bitcoin
A crypto analyst named Jelle has observed a historical pattern that suggests February could be a bullish month for Bitcoin. This would come as a relief for investors who have experienced a bearish January. The pattern he refers to is when Bitcoin has a bearish January and then closes in the green for the last four months of the previous year, leading to a bullish February. Coinglass data shows that this pattern occurred in 2015 and 2016. Last year, Bitcoin closed September to December in the green, thanks to the frenzy around Spot Bitcoin ETFs.
The Bull Market Stays On
Jelle recently mentioned that Bitcoin is back above $42,000 and suggested that there could be further upside movement, indicating that the bull market is still ongoing. He predicts that Bitcoin could rise to as high as $53,000 in the next significant upward movement, potentially happening in February. Jelle has a reputation for being a reputable trader with successful strategies. This aligns with his previous prediction where he accurately identified the BTC bottom and sold at the top.
Hot Take: Whatever Happens in February
Regardless of what happens in February, Bitcoin investors can take comfort in the fact that it still has over 500 days of bullish momentum according to crypto analyst Ali Martinez. Despite recent price declines, Bitcoin whales remain steadfast, with an increase in those holding 1,000 BTC or more. Currently, BTC is trading just above $42,000.
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