- Bitcoin price has put up a good performance against ongoing bearish pressure as seen from the 30-day price trend
Bitcoin (BTC) seems to be leading the pack of coins, when it came to have a stable upward momentum since the start of the year. The coin has managed to outsmart the strong bear pressure for major part over the past 30 days. The price of BTC was seen moving in the range of $8641 – $10424 in the time period.
Bitcoin Price Analysis:
BTC is wanting to go for a bullish phase in the crypto market as seen from the price movements of the past 30 days. The price of Bitcoin was below the baseline price initially at the start of the month on Feb 05. It then experienced a price rally and reached a high of $10,424.01 on Feb 13, showing a rise of 10.73%. The bears were in no mood to slow down and pushed the price of BTC down to $9,508.38 on Feb 17, marking a regression of 8.68%.
BTC recovered by 7.31% from the momentary downslide on Feb 19 at $10,197.79. The bear pressure had got stronger by then and resulted in the fall of the coin again on Feb 28 at $8,641.23, the fall being at 15.16%. Still the BTC bulls tried for a recovery on Mar 02 and reached $8,915.92, the rise being to the tune of 3.18%. The current day’s price of BTC has risen slightly to $8942.45 showing an upward movement of 0.30%.
Bitcoin price is set to move on from the ongoing bearish volatility in the crypto market, making way for the bulls to re-enter the crypto space. This should work wonders for the investor community according to analysts, who expect BTC to live up to its original reputation of being the leader.