{"id":35563,"date":"2024-01-29T12:52:36","date_gmt":"2024-01-29T16:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=35563"},"modified":"2024-01-29T12:52:36","modified_gmt":"2024-01-29T16:52:36","slug":"crypto-analyst-says-february-will-be-a-bullish-month-for-bitcoin-heres-why","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/29\/crypto-analyst-says-february-will-be-a-bullish-month-for-bitcoin-heres-why\/","title":{"rendered":"Crypto Analyst Says February Will Be A Bullish Month For Bitcoin, Here\u2019s Why"},"content":{"rendered":"

Crypto analyst and long-term crypto investor Jelle<\/a> has highlighted an interesting historical pattern that suggests that February could be bullish for Bitcoin<\/a>. This would no doubt be a relief for BTC\u00a0investors<\/a> who have to deal with a bearish January for the flagship crypto token.\u00a0<\/p>\n

Why February Could Be Bullish For Bitcoin\u00a0<\/h2>\n

Jelle stated in an X (formerly Twitter) post<\/a> that \u201cFebruary should be strong\u201d for Bitcoin \u201cif history<\/a> keeps repeating itself.\u201d The history which he alludes to is the pattern where February turns out to be a green month<\/a> for Bitcoin after it has seen a bearish January and had closed in the green for the last four months of the previous year.\u00a0<\/p>\n

Data<\/a> from Coinglass shows that the only other times (2015 and 2016) BTC closed the last four months of the year in the green, it went on to record a bearish January<\/a> and a bullish February after that. Last year, Bitcoin closed September, October, November, and December in the green, thanks largely to the frenzy around the Spot Bitcoin ETFs<\/a>.<\/p>\n\n

Bearing the historical pattern in mind, Jelle expects that February will once again be a green month for Bitcoin. Interestingly, Bitcoin\u2019s gains in February 2016 and 2017 were significant, recording 20% and 23%. As such, there isn\u2019t only the possibility of this February being green for Bitcoin but also coming with huge gains for the crypto token.<\/p>\n

The Bull Market Stays On<\/h2>\n

In a more recent X post<\/a>, Jelle highlighted how Bitcoin was back above the $42,000 level and hinted that there could be more move to the upside as he stated that the \u201cbull market stays on.\u201d The crypto analyst is known to be a reputable trader, as he had previously mentioned<\/a> how his strategies helped him catch the BTC bottom and sell the top.\u00a0<\/p>\n

From his X post<\/a>, one could see that Jelle was predicting that the next significant upward movement from Bitcoin could see it rise to as high as $53,000. Interestingly, from the accompanying chart, there was a likelihood of this happening sometime in February<\/a>. Such a move will once again establish that historical pattern which Jelle had earlier highlighted.\u00a0<\/p>\n

Whatever happens in February<\/a>, Bitcoin investors can still take comfort in the fact that Bitcoin still has over 500 days of bullish momentum, according to crypto analyst Ali Martinez<\/a>. Bitcoin whales have so far remained steadfast, with an increase in those holding 1,000 BTC or more despite the flagship crypto token\u2019s recent price decline.\u00a0<\/p>\n

At the time of writing, BTC is trading just above $42,000, down over 1% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Crypto analyst and long-term crypto investor Jelle<\/a> has highlighted an interesting historical pattern that suggests that February could be bullish for Bitcoin<\/a>. This would no doubt be a relief for BTC\u00a0investors<\/a> who have to deal with a bearish January for the flagship crypto token.\u00a0<\/p>\n

Why February Could Be Bullish For Bitcoin\u00a0<\/h2>\n

Jelle stated in an X (formerly Twitter) post<\/a> that \u201cFebruary should be strong\u201d for Bitcoin \u201cif history<\/a> keeps repeating itself.\u201d The history which he alludes to is the pattern where February turns out to be a green month<\/a> for Bitcoin after it has seen a bearish January and had closed in the green for the last four months of the previous year.\u00a0<\/p>\n

Data<\/a> from Coinglass shows that the only other times (2015 and 2016) BTC closed the last four months of the year in the green, it went on to record a bearish January<\/a> and a bullish February after that. Last year, Bitcoin closed September, October, November, and December in the green, thanks largely to the frenzy around the Spot Bitcoin ETFs<\/a>.<\/p>\n

Bearing the historical pattern in mind, Jelle expects that February will once again be a green month for Bitcoin. Interestingly, Bitcoin\u2019s gains in February 2016 and 2017 were significant, recording 20% and 23%. As such, there isn\u2019t only the possibility of this February being green for Bitcoin but also coming with huge gains for the crypto token.<\/p>\n

The Bull Market Stays On<\/h2>\n

In a more recent X post<\/a>, Jelle highlighted how Bitcoin was back above the $42,000 level and hinted that there could be more move to the upside as he stated that the \u201cbull market stays on.\u201d The crypto analyst is known to be a reputable trader, as he had previously mentioned<\/a> how his strategies helped him catch the BTC bottom and sell the top.\u00a0<\/p>\n

From his X post<\/a>, one could see that Jelle was predicting that the next significant upward movement from Bitcoin could see it rise to as high as $53,000. Interestingly, from the accompanying chart, there was a likelihood of this happening sometime in February<\/a>. Such a move will once again establish that historical pattern which Jelle had earlier highlighted.\u00a0<\/p>\n

Whatever happens in February<\/a>, Bitcoin investors can still take comfort in the fact that Bitcoin still has over 500 days of bullish momentum, according to crypto analyst Ali Martinez<\/a>. Bitcoin whales have so far remained steadfast, with an increase in those holding 1,000 BTC or more despite the flagship crypto token\u2019s recent price decline.\u00a0<\/p>\n

At the time of writing, BTC is trading just above $42,000, down over 1% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35563","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35563"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35563\/revisions"}],"predecessor-version":[{"id":35569,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35563\/revisions\/35569"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35563"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}