Timothy Peterson has issued a Bitcoin price forecast for February
According to Peterson, February has traditionally been one of the most favorable months for Bitcoin — during this period, the growth of the leading cryptocurrency is sometimes more stable than in October.
In the second half of February, companies release their annual financial reports and updated forecasts, which are most often positive. Against this backdrop, investors begin to actively seek higher returns and show increased interest in risk assets, including Bitcoin. As a result, part of the capital flows into the crypto market, the economist explained.
He cited historical statistics that “confirm the strength of February”: from the 7th to the 21st, Bitcoin’s weekly returns consistently exceed 7%.
Provided that investor anxiety gradually decreases, the leading cryptocurrency may gain a foundation for recovery and a return to a bullish trend as early as the second half of February, Peterson suggested.
Earlier, Changpeng Zhao, the controlling shareholder of the world’s largest cryptocurrency exchange by trading volume, Binance, stated that Bitcoin will reach a new all-time high this year. The key growth driver, the entrepreneur explained, will be changes in U.S. legislation.
See also: "Cryptocurrencies Will Start Rising After the Gold and Silver Market Cools Down"
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