Bitcoin (BTC) started the new year with a price drop, but eventually turned around and a few weeks ago, set a new historical record. Now, all eyes are on February; a month historically one of the most profitable for Bitcoin. In late 2024, Bitcoin experienced a major correction, starting the new year around $93,500. Despite concerns, Bitcoin swiftly crossed the $100,000 mark within a week. Political and economic concerns in the US led to a price drop below $90,000 on January 13. However, despite predictions of a drop to $75,000, active buyers prevented further decline. Bitcoin changed its course decisively and passed $100,000 again. In the following days, more fluctuations occurred, with Bitcoin reaching a new record of $109,000 on January 20, Trump’s inauguration day. Though Bitcoin couldn’t sustain this level, it ended January with a 9.29% growth. Now, the crypto community is focused on February, a typically profitable month for Bitcoin. Over the past 12 years, Bitcoin has only faced price declines twice in February, the latest being five years ago in 2020. Post-halving, Bitcoin has shown high returns in February, with increases in 2013, 2017, and 2021 being 61.77%, 23.07%, and 36.78% respectively, raising hopes for Bitcoin’s price performance this February. Positive signs are seen in the market, such as the increase in USDT and USDC volumes in exchanges, indicating investor readiness to enter the market. Trump signing an executive order to explore adding some digital assets to America’s reserves could have a positive impact on the market if accepted. You can monitor the live prices of all tokens and cryptocurrencies on the Instant Digital Currency Prices page.
