Bitcoin On Course To End Month At The Green End Of The Stick

Bitcoin (BTC) is stated to see the green end of the peak for the first time in nearly eight months since July 2018, which will certainly give a boost the entire crypto market. Provided Bitcoin maintains it’s current course, the ‘Godfather Crypto’ is expected to finish February in the green zone, above the $3,472 mark at the starting of the month.

Since hitting a low of $3,350 on Jan.28, Bitcoin has recovered slightly, touching the $3,700 mark on Feb.08.1 BTC token was valued at $3,631 at the time of writing, down 0.22% on the day’s trading.


Another Short Lived Consolidation Period For Bitcoin?

Bitcoin had previously achieved a six-week consolidation period after reaching a low of $3,164 on Dec.15 until Jan.27 this year. This period was broken when the crypto’s value slided south of the $3,350 mark early on Jan.28.Analysts are holding back on forecasting a long bullish run for Bitcoin, given how volatility rather than stability has dominated its market graph.

However, industry experts witness a much longer recovery phase for BTC in the latter half of 2019, which could be the result of a strong rally starting off mid-year.

At the present moment, the market mood remains slightly bearish. A cryptocurrency investor and analyst said that Bitcoin’s green peak should re-establish investor morale and will encourage the crypto’s slow yet steady growth.

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