From December 2017 it would be fair to say that the cryptocurrency market is in free fall, entering a bear market that lasts more than 12 months. However, at the end of February, there was some positivity, and finally, a good month appeared.
After losing each month for six months in a row, Bitcoin had a positive month when it finished higher than where it started. Although this is not enough to suggest that the bear market is over, it is a good situation to see growth for the month.
Good february
The price of bitcoin, which began in February and was a little over $ 3,400 per coin, added about 11 percent over the month, rising to $ 3,800. The price even briefly crossed the $ 4,000 mark several times during February, but failed to gain a foothold. It also indicates a change in state when the coin broke the $ 1,000 mark after such a long time.
Until February, Bitcoin was losing its position every month since September last year, having hit hard especially in November, when the relatively stable level of more than $ 6,000 fell by 50%.
However, over the past few weeks, some bulls have made bold predictions and even assumed that the bitter winter for cryptocurrency was finally coming to an end.
New type of rally
Much more attention was paid to the blockchain and to what he can do in enterprises and in large companies; There has also been a big boost in regulation, most of which were friendly. This was only possible because of the speculative bubble that burst when Bitcoin grew so fast in 2017.
Currently, a general understanding of the technology and its associated cryptocurrency has improved, and companies and regulators will gladly try to create it from scratch to get a stronger and more viable product.
Because of this change in thinking and the loss of pure speculation, cryptocurrency has a chance to flourish, but, most likely, it will be much less aggressive than in the past large rally for the cryptocurrency market.
This has yet to be confirmed, but in terms of a good starting point, a positive 28 days to February show promising results.
