What a month for Bitcoin February 2021 has been! We saw a price discovery up to $58,000, and then a devastating 20% crash back down to $43,000 to recover a little, and close the month out at $45,000.
As scary as that drop from $58,000 was, we just have to look again, at the monthly candle, to appreciate just how much Bitcoin has moved up since we closed out 2020.
We started February at $33,110, and closed out the month at $45,240. That’s a full $12,000 price increase, or 36.5% increase for the month. Again a record from a monthly price action perspective.
We’re currently up more than 60% year to date for 2021, and we’re only days into March. Looking at the action for the first few days into March, I believe we could be seeing a repeat of February’s price action, and more and more, I am looking at the charts and getting convinced that we are looking at a supercycle playing out.
As improbable as it may be, can we see a full year of monthly green candles?
That will be amazing.
Shark Tank star Kevin O’Leary allocates 3% of portfolio to Bitcoin
Kevin O’Leary, who previously was doubtful about bitcoin, but to be fair, did say he was waiting on more regulation and oversight before investing, promptly allocated 3% of his portfolio to bitcoin shortly after an ETF was approved and launched in Canada.
Another month, another famous investor coming round to Bitcoin. I wonder who the next one will be. Any ideas?
Pingback: Crypto in Review – March 2021 | Side Hustle Rich
Pingback: Crypto in Review – March 2021 | TheFinance.sg
Pingback: Crypto in Review – March 2021 - Enri$hed Feed