Bitcoin

when

With its price rising to $60,000 over the last day, February has turned out to be quite the <a href="https://bitcoinist.com/bitcoin-btc-price-all-time-highs/">bullish month for the Bitcoin price</a>. According to <a href="https://www.coinglass.com/today" rel="nofollow noopener" target="_blank">data</a> from Coinglass, this green month has seen the emergence of the second most profitable February in the history of Bitcoin. 
<h2 class="p2" id="february-brings-glad-tidings-for-bitcoin">February Brings Glad Tidings For Bitcoin</h2> 
The performance of Bitcoin in February has led to a highly successful green month, and the best February for the cryptocurrency in over a decade. Looking at data from Coinglass, it shows the <a href="https://bitcoinist.com/blackrock-private-bitcoin-event/">price of Bitcoin</a> is up around 39% this month. Compared to the performance of Bitcoin in the same month in the last 10 years. 
February 2013 still holds the record for the highest return, with a 61.77% return for the month. Then, in February 2021, the monthly returns would reach 36.78%, which was the second-highest until February 2024. However, ending in green for February is not out of the ordinary as the month has seen more green closes compared to red since Bitcoin was launched. 
<img loading="lazy" decoding="async" class="alignnone wp-image-284181 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=640&amp;resize=782%2C447" alt="Bitcoin monthly performance" width="782" height="447" srcset="https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=2720 2720w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=640&amp;resize=782%2C447 640w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/02/Screenshot-2024-02-28-at-15.17.28.png?w=1140 1140w" sizes="(max-width: 782px) 100vw, 782px" data-recalc-dims="1"> 
Looking at the historical performance of years when February closed out in green, it could paint a picture of where the <a href="https://bitcoinist.com/bitcoin-btc-price-all-time-highs/">price of Bitcoin</a> is headed next. Going back to 2013, the outperformance in February carried on into March, which outperformed February by a mile. March 2013 ended with a 172.76% return, and the whole of that year was characterized by an impressive performance from Bitcoin. 
Then again, in 2021 when the month of February ended with high returns, it carried on into the month of March as well, ending with a 20.84% return. Using the trend from both of these months, which proceeded by February, closing with high returns, it could point to a continuation of the bull rally from here. 
<h2 class="p2" id="not-all-glad-tidings-for-btc-in-march">Not All Glad Tidings For BTC In March</h2> 
While the months of February ending on a high note for Bitcoin have seen an equally <a href="https://bitcoinist.com/bitcoin-analyst-target-200000-spot-etfs-btc-new-era/">bullish month</a> of March follow, it is not always the case. For example, between the years 2015 and 2019, February closed in the green for each one. However, only in 2019 did the rally continue in March, while the rest all saw BTC’s price decline in varying degrees. 
However, it seems the performance in February does have a bearing on how things do turn out in March. For the months which were followed by a decline in price, the trend is that the better <a href="https://bitcoinist.com/bitcoin-analyst-target-200000-spot-etfs-btc-new-era/">Bitcoin performed</a> in February, the better it held up in March. 
Between 2015 and 2017, the months of February ended with an average close of +20%, while the highest drawdown in the next month was 9%. But when the month of February ended with meager gains of 0.47% in February, the month of March that followed saw Bitcoin decline 32.85%. 
So, while there is a possibility that March could end up being a red month for Bitcoin, its outperformance in February could serve as a cushion to give the price a softer landing. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/OIvCAa49/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Bitcoin Sees Highest February Returns In 11 Years, What Comes Next In March?

Table of Contents

Bitcoinist

Other articles published on Feb 28, 2024

SEABC 2024: Top Industry Leaders To Share Innovations and Insights on Blockchain and Web3

Bitcoin reaches all-time high in Chinese Yuan

Fusionist (ACE) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Huge excitement over Crypto Lending Innovation Kelexo (KLXO) looks to 30X post presale whilst Car...

Bitcoin touches $64k for first time since 2021

Poor network quality: MTN Nigeria blames fibre cuts, apologises to users

Join our free newsletter for daily crypto updates!