Bitcoin's historical gains in February were excellent! Matrixport Analyst: 44,000 becomes Bitcoin resistance level

Although Bitcoin ushered in the launch of spot ETF on January 10, the increase in the entire January was only 0.62%. During the first weekend of February, Bitcoin also experienced a slight decline. However, historical data shows that Bitcoin’s performance in February has generally been positive, rising in seven of the past 10 times. Matrixport and 10xResearch analysts remain bullish on Bitcoin reaching a $50,000 price target in the first quarter.

Bitcoin fell slowly over the weekend

Bitcoin showed some signs of a slow decline last weekend. After reaching a high of $43,485 on February 3, it gradually fell. On February 5, the lowest price fell to $42,188, but it recovered before the deadline, reaching $42,747.

BitMEX founder Arthur Hayes previously predicted that Bitcoin may experience a slight decline. He also believed that due to macroeconomic factors, the Federal Reserve may restart the money printing mechanism, which may cause Bitcoin to experience a similar situation to March last year. Uptrend.

44,000 becomes Bitcoin resistance level

Matrixport and 10xResearch analyst Markus Thielen has recently changed his view on Bitcoin and set the target price of Bitcoin at the end of the first quarter at 50,000 Dollar.

However, he also pointed out that Bitcoin needs to first stand firm and break through the 43,000/44,000 resistance level before it can potentially rise to the 52,000 level. Furthermore, compared to the U.S. and Asian markets, Bitcoin fell by 3% during the Asian trading session, while it rose by approximately 1% during the U.S. trading session.

Markus Thielen finally insisted that Bitcoin should go higher in the US presidential election year.

Bitcoin rose by an average of 8% in February

Matrixport officials cited past data and stated that Bitcoin always performed well in February, achieving positive returns in 7 of the past 10 years, with an average The increase is 8%, and usually the fourth and second quarters perform best, and the third quarter is the worst.

Bitcoin average monthly return

Although Bitcoin welcomed the launch of spot ETF on January 10, the final increase in January was only 0.62 %, will February usher in a sharp rise as predicted above?

Finally, the rise and fall of Bitcoin in each previous month is attached.

Monthly Return Rate

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