February 8th in the morning. Bitcoin is $9,800. Since the middle of December 2019, Bitcoin has gone from $7,000 to this point.
After it recovered in July, the crypto coin has increased its value with minor drops. It all started in 2019.
However, BTC stayed inactive for a long time in 2018. What’s causing this surge?
How Much Is Bitcoin In February?
What we’ve seen is consistent growth since the beginning of 2020. Two factors explain this positive trend.
Bitcoin is popular for being the less volatile crypto-currency. As transactions become more secure, more and more people will accept it for trading. It will bring more buyers, and the existing ones will rely more on Bitcoin.
Mining technologies are also improving. By the second half of 2020, most companies will start using a new method to make mining twice more efficient. It will make the coin more valuable and accessible.
Bitcoin In February: What To Expect?
We use to predict the market based on what we’ve seen recently. If the trend continues, people may mistakenly believe that it will stay like that forever.
In February, a surge has a higher chance than a crash. As long as there are more buyers than sellers, prices go up.
This market demand defines in three forms.
- . How many people interact in the crypto markets?
- . How often does an investor make a movement?
- . How much Bitcoin do they buy or sell?
Quantity will always increase. Frequency depends on the investor impulsiveness. For example, most crypto news is designed to increase activity, so others either buy or sell.
Volume depends on the investor approach. A long-term thinker will probably invest heavily, ignoring the short-term events. Higher volume saves more costs.
Again, volume depends on confidence. You won’t likely see a daytrader throw millions. If you trade frequently, you have more costs and risks, which forces you to reduce the volume.
Bitcoin Based On Market Psychology
For many months, BTC has stayed under $7,000. It started surging two-three months ago. Most investors will have had enough time to participate.
But what could go wrong? Could the prices plummet? Only if buyers decide to sell, all at the same time.
Early investors will want to sell their Bitcoins once the price is high enough, causing it to go down. Inexperienced investors will sell to “protect themselves,” thinking it won’t recover. This behavior also makes the price decrease.
The question is, when will they sell? It depends on how people estimate the market ceiling. Bitcoin history shows it as $10,000. Recent researchers expect it to change to $100K.
All in all, people are optimistic about the future. Experts expect it to reach $15K in the first half and cross $20K before 2021. Some like McAffee think it’s an exponential curve, which is why it could even reach $1 million.
The daily prices may change a lot. Despite the ups and downs, Bitcoin goes up due to reasons beyond speculation. Technology improves. More people join the market every day.
The best way to profit in February is to be prepared. You can always sell, but buying Bitcoin may be too late. In 2020, investors will lose money because of not being in the game, not because of bad timing.