January 2022 turned out to be a highly negative month for bitcoin's price movements, will February be any better?
January 2022 turned out to be a highly negative month for bitcoin’s price movements, will February be any better?
History shows that January tends to be a rather negative month for bitcoin in terms of price performance. The 2022 edition didn’t go well either, as it became the third-worst January in the past decade with a near 17% decline.Ever since the middle of November, when the entire crypto landscape seemed highly bullish riding the waves of the first-ever Bitcoin futures ETFBTC, for example, tapped an all-time high at the time of $69,000 after recovering from the mid-2021 slumps.
Thus, it ended the year more than $20,000 lower than its peak a month and a half ago and couldn’t live up to all theJanuary didn’t start well. Bitcoin dropped by a few thousand dollars and stood below $45,000 for a few weeks before it headed straight down in the middle of the month. It plummeted by more than $10,000 in less than a week and bottomed below $33,000, becoming the lowest price point since late July.
History shows that February 2013 was the most successful second month of the year for BTC as it skyrocketed by over 60%. Last year was also impressive, with BTC adding more than 35% during those 28 days.
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