Bitcoin grew by 11% in February, but what can we expect next?

Yieldnodes – Mid month update. What profits should we expect next?

After the positive close in February, the cryptocurrency market starts March with the resumption of the downward movement. Bitcoin falls below $ 3,800, but traders are trying to contain another downturn.

Another has begun today decline in the cryptocurrency market, as a result of which most coins have already lost 2-5% of value.  

After a six-month decline, at the end of February, Bitcoin for the first time recorded growth at the level of 11%, having risen in a month from $ 3440 to $ 3840. At the same time, the indicators of the daily trading volume and the number of transactions in the network reached an annual maximum, which confirms the increased interest in the asset. in February, none of the attempts to keep the rate above $ 4,000 was successful, so investors could decide to take profits and revise the composition of the portfolio.

Over the past day, the bitcoin (BTC) rate has fallen by 2.2% and at the time of this writing is $ 3779. Even though it is oversold, technical analysis confirms the formation of a downtrend and the possibility of setting new lows. Although the market for virtual currencies often behaves irrationally, therefore, it is almost impossible to predict.

The Ethereum (ETH) rate during this period decreased by 4.4% and reached $ 129. It should be noted that the successfully completed system-wide platform update did not have a significant impact on the asset value, despite the huge changes in the network functionality and emission.

Bitcoin grew by 11% in February, but what can we expect next?

The Ripple Price (XRP) dropped 2.7% over this period to $ 0.306. EOS was again recognized in the Chinese ranking as the best blockchain, but this did not bring him tangible benefits, since it lost 5.67% of its value in a day and is trading at $ 3.33. Litecoin (LTC) and Bitcoin Cash (BCH) rates fell 3.95% and 5.25 to $ 47.11 and $ 125.4, respectively.

The new major players in the virtual asset market may be cryptocurrency, which Facebook plans to release in the first half of 2019.

Bitcoin grew by 11% in February, but what can we expect next?

text: Ivan Malichenko, photo: unsplash, graphic: coinmarketcap

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