With its impressive rally, Bitcoin’s ATH, which was seen in November 2021, blinked to $ 69,000 and broke new records.
At this point, Bitcoin closed its 6th consecutive monthly candle in green. If Bitcoin loses March with a green candle, it will be the first 7-month green candle series in BTC history.
While BTC closed February with a 47% increase, Glassnode analyst, who uses the nickname Checkmate, stated that Bitcoin experienced the biggest increase in dollar terms.
” Unreal…
In February 2024, Bitcoin printed a candle of $19.84K, the largest monthly US dollar gain in history.”
This added $390 Billion to Bitcoin market value…
“In percentage terms, there was a remarkable increase of 47%.”
The analyst then pointed out that this post was just a data sharing about BTC and said that this post was not a prediction or evaluation of what will happen next in BTC.
Unreal…Feb 2024 printed a $19.84k #Bitcoin candle, the largest monthly USD increase in history.
This added $390B to the #Bitcoin market cap…
Up a remarkable 47%. pic.twitter.com/bCXeKd9Uot
— _Checkɱate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) March 1, 2024
Bitcoin has demonstrated its strongest performance since December 2020. Historically, February has once again proven to be a strong month for BTC.
While all eyes are now on March for BTC, according to Coinglass data, there is no stable situation for Bitcoin in March. Because BTC, which closed the month of March 2023 in green with an increase of 172%, closed five consecutive years with a red candle in 2014, 2015, 2016, 2017 and 2018.
Afterwards, BTC broke the red candle series and closed March 2019 with a green candle, and closed again with a red candle in 2020.
We will be following what path Bitcoin will follow in 2024, having closed the months of March 2021, 2022 and 2023 with a green candle in the last three years.
*This is not investment advice.
