• The crypto market is expected to close February on a bullish note.
• Historical price action of the crypto space suggests that February has been a bullish month, recording an average gain of 187.83% since 2011 with an average of 12.52% per year.
• March has historically been bearish for the crypto markets and if this trend continues, it could lead to a bearish start to Q2 2021.
Crypto Markets Live: Is a Bullish February Close an Indication of the Start of a Bull Run?
Historical Price Action
The historical price action of the crypto space suggests that February has been a bullish month, recording an average gain of 187.83% since 2011 with an average of 12.52% per year. Excluding the 2018 bear market, where-in their action was witnessed in the first few weeks of 2018, the crypto markets recorded magnificent gains for the rest of the year. Woefully, the markets have surged just 2.12% compared to the previous 39.83%, and hence the fear of a bearish close still haunts the token.
By registering two consecutive bullish monthly closes, it can be derived thatthe crypto markets may have risen beyondthe bearish captivitybut how long willthe bullish trend continue? What if history repeats itself? Willthe crypto markets again fall intoa deep bear market?March hasbeenbearish for ageshistorically anda bearish closefor Februarmay fuelthebearish market sentiments.
Referring to historic chart datait can be assumedthat afterFebruaryAprilmay incur equivalent or higher gainsasMarch may remain consolidated or bearishMoreoverinacutelybearishcaseentireQ2hasbeenheavilybearishyinpastcoupleof yearsThereforeit is very muchimportantforthecryptospace toremainbullisuntilmonthlyclose as afineupswingcouldbeignitedaheadCollectivelyBitcoinpricesarebecomingunpredictabledaybydayandhistoriprofitandlosschartsubstantiatesthisclaim
The conclusion we can make from this analysis is that while February looks set to close on a positive note, there are no guarantees as to what March will bring and whether this indicates the start of a bull run or not remains uncertain at best. Therefore investors should exercise caution when investing in any cryptocurrency assets in order to protect themselves from any potential losses due to volatility in prices in these volatile markets