• The crypto market is on the verge of a bullish monthly close, indicating that the crypto markets may be rising beyond the bearish captivity.
• Historical data 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.
• If March proves to be bearish, it could fuel the bearish market sentiments and send Bitcoin prices into further uncertainty.
Price Analysis: Crypto Markets Live
Is a Bullish February Close an Indication of the Start of a Bull Run?
The crypto market is approaching yet another monthly close, which is largely expected to be bullish. However, historic price action suggests that after February April may incur equivalent or higher gains while March may remain consolidated or bearish; and in a worst-case scenario, Q2 could prove to be heavily bearish again like in recent years, making it important for the crypto space to remain bullish until the monthly close as a fine upswing could be ignited ahead.
Historical Price Action of Crypto Space
Since 2011, February has recorded an average gain of 187.83%, with an average of 12.52% per year excluding 2018’s bear market where-in their action was witnessed in the first few weeks only and overall markets surged just 2.12%. This indicates that although 2021 has been largely bullish so far, there is still fear surrounding a possible bearish close for this month due to past experience.
What Could Happen if March Proves Bearish?
If March does indeed turn out to be bearish then it would fuel bearish market sentiments and send Bitcoin prices into further uncertainty as history shows us this is often what happens when such months occur – Q2 usually ends up being heavily bearish in recent years thus proving how unpredictable these markets can be at times despite generally positive trends over time on larger scales such as yearly ones (as seen by 2021 so far).
In conclusion, it’s important for investors to stay vigilant during times like these as any slight change in direction could have major implications on their portfolios; however if February closes out positively then this might indicate we are entering into a bull run and greater profits can possibly ensue from here on out!