Bitcoin is the envy of all world currencies: in February, its price changed by only 0.03%

This is truly the least volatile month in bitcoin history.

Despite the ups and downs associated with changes in data on the US economy, the bitcoin rate rose by only 0.03% during February, failing to fix a mark above $23,500.

bitcoin monthly chart

This means that bitcoin has been more stable than most major assets, including stocks, commodities, and the world’s major currencies. Agree, this is a significant achievement for the cryptocurrency, which is most often criticized precisely because of the high volatility, which makes it difficult to use the asset as a medium of exchange and savings.

Bitcoin surged nearly 45% in January, the best January result since 2013, the first year of the crypto bull market. In February, the bulls held the line, but, as we see, they could not make progress.

Moreover, according to the data Coinglassno month in the history of bitcoin has been as stable as February 2023.

Monthly profitability of bitcoin. Source: Coinglass

“But what can we expect in the near future?”, you ask. Responsible Head of trading firm Eight Michael van de Poppe (Michaël van de Poppe):

Expectant tactics for bitcoin. It was not possible to break through the resistance, and altcoins began to fall heavily. If Bitcoin does not hold $23.2 thousand, then the $22.5 thousand area will have to be tested before the growth.

4 hour bitcoin chart. Analyst: Michael van de Poppe

His fellow trader Crypto Tony turned out to be more categorical:

The $23,750 level proved difficult for the bulls to break through. At the moment there is a lateral movement, but if the bulls cannot advance today, then the bears will take over.

2 hour bitcoin chart. Crypto Tony Forecast

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