February turned out to be the most volatile month for Bitcoin since April 2020.
The volatility index of the largest cryptocurrency reached 114.51% on February 8 – this is the highest figure since April 10 last year. This is evidenced by data from the asset management company Blockforce Capital.
Recall that in February, bitcoin soared in price to $ 57,487. Then the BTC rate began to fall again, and at the end of the month the cryptocurrency fell below $ 44,000.
On Thursday, March 4, Bitcoin is trading just below $ 50,000. It was quickly able to recover from the losses suffered last week. Support increased in areas where large investors bought, the WhaleMap team emphasized.
At the very beginning of January this year, BTC was at $ 28,900, after which its value almost doubled. Many cryptosphere proponents are optimistic. For example, Morgan Creek co-founder Anthony Pompliano generally thinks bitcoin could skyrocket to $ 1 million.
Civic CEO Vinnie Lingham is also forecasting a rise in the BTC rate. However, his scenario is more conservative. The same analyst believes that the largest digital currency will be able to test values ​​above $ 100,000 by the end of next year.
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