Bitcoin Investors Expect $45K Bullish Rebound, February will Deliver

January 29, 2024

Bitcoin investors are anticipating a bullish rebound to $45,000 in February, following a recent 9% surge that took the price above $42,200. The recovery came after Bitcoin touched a 50-day low of $38,500 on January 23. Historical data from 2011 to 2023 shows that February has historically been a profitable month for Bitcoin, with an average profitability of 14.5%. Technical indicators suggest that a breakout above the 20-day SMA at $42,555 could trigger a bullish momentum and propel the price towards $45,000. Investors are closely monitoring the market dynamics and technical indicators to anticipate potential price movements.