After the U.S. Federal Reserve held interest rates steady this week, Chair Jerome Powell made a statement.
Powell, who also spoke about Bitcoin and cryptocurrency, has pushed the price of BTC up. As investors continue to expect an increase, a new month begins with Bitcoin.
So, let's look at the answers to the questions: Does Bitcoin like February? How does it perform in previous Februarys?
How Has Bitcoin Performed in Previous Months?
When we consider the performance of Bitcoin over many years and many months, we see that the declines are concentrated in certain months and the growth is concentrated in certain months.
When we look at Bitcoin's monthly profit table above, we see that overall, August and September are down months; February, July, October, and November are up months.
February, usually a bullish month, has only closed in the red twice in the past 12 years. Bitcoin, which has risen in February for the other 10 years, only closed in the red in 2020 and 2014, according to CoinGlass data. Bitcoin's price increased between 0.03% and 61% in the following 10 years.
At this time, analysts predict Bitcoin will rise in February 2025, based on historical data showing February is the third-best performing month for Bitcoin.
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