Performance for the month
Bitcoin (BTC) began February at a little over $3,400 and has added about 11 percent to what it is now as a Fortune article by Billy Bambrough was posted early this morning noted. Although the price did break the $4,000 level more than once during the month, it was unable to stay above that level for long.
Before February, BTC lost ground every month since last September taking a specially heavy blow in November. However, during the last few weeks some bulls have been making bold predictions and predicting that the bitter winter for cryptocurrencies is finally coming to an end. Among recent good news is from the large Swiss bank Bar, which announced that it will soon begin offering digital assets to clients. Also, Nasdaq in the US added two new digital price indexes for bitcoin and ethereum as the exchange prepares to offer tradeable bitcoin and crypto futures. Mati Greenspan of eToro brokerage wrote that some firms are putting their plans for cryptocurrencies back on the table: “Now that the market is showing signs that spring is coming, those plans are back on the table. After all, they wouldn’t want to miss out on the next bull run.”
2017 was the last big year for bitcoin
During 2017 at the beginning of the year bitcoin was trading at under a $1,000. By December it had reached an all-time high of close to $20,000. However, ever since then the price has dropped until it has now lost about 80 percent of the value it had at its high. Just over the past 12 months about $400 billion has been lost of the total cryptocurrency market.
Present situation
24 hours ago, BTC opened on CoinDesk at $3,796. The high since then has been $3,879 and the low $3,753. At 17:40 Central Standard Time, the price was the same as when it opened. Trading overall has been mostly sideways for now. The present price of BTC can be found here. At least BTC is positive for the month by several hundred dollars. However, it needs to break through the $4,000 barrier again if it wants to continue a bullish rally.
