The encryption market is currently facing $ 3.5 trillion in a decline, with bitcoin price in the red area. However, historical patterns indicate an upward rise, as February was a strong month of February.
Bitcoin to see the upward trend in February
In a conversation X postIn February, analyst Mister Mister praised as a bullish month of Bitcoin, directing similarities from historical data. According to Mister Crypto analysis, February is proud of a monthly return of 14.46 %, with last year’s return to 43.55 % – the highest since 2013 61.77 %. After a noticeable return of 9.29 % in January 2024, Mister Crypto analysis takes an amazing cautious tone, expecting a modest return of 0.07 % for February.
In addition, Cryptogoos highlighted, encryption lovers, the great performance of the Bitcoin price in February. Bitcoin usually shows an ascending pattern in February, which increases the possibility of repetition of this style. When predicting a gathering of refinement, the analyst asked, “Why will it be different this time?”
Glassnode analysis: The main axis area appears
According to the Slassnode analysis, a large volume of BTC has been purchased and sold for between 94 thousand dollars -101 thousand dollars over the past 45 days. This has created a dense supply mass near the decisive point of $ 98,000.
Over the past 45 days, a large size of $ BTC Hand exchange in the range of 94 thousand dollars – 101 thousand dollars, which constitutes a dense supply group near 98 thousand dollars: https://t.co/sdnq8dqyy
📌 Why does it concern: The more the price is combined inside or above this range, the stronger this field … pic.twitter.com/osqif6dvwp
– Glassnode (Glassnode) January 31, 2025
The analysis indicated that the level of 98,000 dollars appears as a main pivotal area for the next movement of the cryptocurrency. With the point that operates both as resistance and support, it is likely to affect the future price movements of Bitcoin.
Glassnode added, “Merchants to see this point strongly,” The more the price is combined inside or above this range, the more powerful this field is as support in corrections and resistance in gatherings. “It is important to note that the BTC analysis will come amid an increasing expectation of the American Bitcoin Reserve. .
Is Bitcoin preparing to reach the new ATH in 2025?
Majus, another prominent encryption analyst, predicted “Bitcoin Paul Rally Ward”. The annual graph presented by MAGS highlights the ability to reach a new ATH of about 400 thousand dollars by mid -2015.
Likewise, the prominent commentator of Charlie’s encryption drew an amazing parallel between the Bitcoin price track in 2017 and its potential way until 2025. It turned out that BTC would exceed an ambitious level of $ 940,000 by the end of the year.
As of the time of the press, the bitcoin price is 102,208.67 dollars, with a daily decrease of 2.65 %. Over the past seven days, Bitcoin has faced a decrease of 2.68 % despite a monthly increase of 4.4 %. However, with a maximum of the huge market of $ 2.01 trillion and 54 % dominance, bitcoin stands fixed as the largest encrypted coin.
Nino against Jamal
NYNU V Jamal is an emotional encryption journalist with three years of experience in Blockchain, Web3 and Fintech balls. She has created herself as an attractive and attractive voice in the coded currency and blocks. She added her experience as a professor of English and literature assistant to her endeavor to formulate well and accessible media content.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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