For the first time in six months, the Bitcoin price has closed the month in the green. This comes as an obvious bullish sign and gives hope that we may be seeing an end to “crypto winter.”
Although signs were looking good, it wasn’t until less than an hour ago that Bitcoin officially closed the month of February at a price higher than it opened on. This is the first time the coin has ended a month in the green since July of 2018. Looking at the chart on a monthly time scale makes this easy to see:
This could be a good sign that the bottom is in, but there is still no guarantee that we couldn’t spend time near these lows for months to come. It is possible that March could gobble up these gains, as is a pattern that has been seen in previous years. This pattern has been outlined in a previous Chepicap Price Analysis video:
If next month can be stronger than this one, then at the least we have stepped outside of traditional price movements for the first quarter. That could be a very good thing for the crypto market.
While it will probably take months to determine if this is really where the bear market turns around, it is a start, as the next bull run will inevitably begin with one green candle. Can it continue? Stick with Chepicap for any and all updates on Bitcoin price action!
WATCH: Coins BOOMING after Samsung S10 news! $ICX, $ENJ, $BAT PRICE TARGETS!
Follow Chepicap now on Twitter, YouTube, Telegram and Facebook!
Chepicap is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Read more: How to tip and receive Bitcoin via the Lightning Network with Tippin.me