THELOGICALINDIAN - Over its abbreviate tenyear activity amount bitcoin prices accept commonly apparent bigger months than others February has been one for the beasts so will history beat afresh in 2024
Bitcoin Price Momentum Building
Bitcoin amount has connected to body on the weekend drive by accepting afresh today. According to Tradingview.com the aftermost 12 hours or so accept apparent a $500 pump from $8,650 to $9,150.
The 6 percent additional accretion has congenital on drive at the weekend which abounding attributed to abrogating news surrounding the Chinese Coronavirus outbreak.
It is accurate that Asian banal markets accept fallen forth with the Chinese yuan which are usually bullish signals for bitcoin.
Analysts such as Josh Rager see nothing out of the ordinary activity on with BTC markets though.
BTC prices are now aback at their multi-month attrition akin and charge to advance college to about $9,700 area the abutting barrier lies.
Rager added that the account candle is attractive actual able and could aftereffect in a advance aback to bristles abstracts if the drive continues.
On the low side, BTC could acknowledgment to abutment at $8,600 or $8,300 but a dip into the $7k area could invalidate the contempo momentum.
The February Feeling
Crypto and forex chartist Alessio Rastani has been demography a attending at the account account and has apparent that February is usually a actual able ages for bitcoin.
This could be the case afresh if history rhymes in February, about because that Januarys are usually bearish and this ages has already apparent a 27% accretion may aftereffect in the opposite.
Observing annual returns over the accomplished six years shows that Q1 has been bearish for four of those years with alone 2017 and 2019 announcement assets in the aboriginal three months of the year. Q2, on the added hand, has been the best assuming aeon over the accomplished six years, abreast from 2018.
Bitcoin’s cachet as a safe anchorage is accepting stronger with two abstracted incidents consistent in accompanying BTC and gold rallies. Add to that the halving drive which is acceptable to body in February and things are attractive positive for prices.
Will bitcoin amount column added assets in February? Add your comments below.
Images via Shutterstock, BTC/USD trading archive by TradingView, Twitter: @Josh_Rager, @alessiorastani
