Bitcoin is encountering significant challenges this February, marking the month as one of the most unfavorable in the past 11 years.
Current Market Movements
Earlier this week, Bitcoin came under pressure, leading to the liquidation of $1.5 billion in futures contracts. Despite a positive opening in U.S. trading, Bitcoin's price dropped 1.48% to $85,400, marking the lowest level in the past three months.
Historical Context
The situation in February 2023 resembles the events of 2014, when Bitcoin's value decreased by 33.7%. There has not been such a significant February drop since then.
Future Forecasts
According to historical data, March typically sees an average return of 11.8%, but the median value indicates a more modest figure of -2.10%. While these data do not guarantee future market behavior, they provide interesting insights for consideration.
Amid market volatility, Bitcoin continues to surprise with sharp price fluctuations, highlighting the importance of analyzing historical data for forecasting its future movements.
