The market pullback from the recent lows of February 6 is characterized by a steady uptrend with little wild volatility associated with the space. All digital coins are higher in healthy turnover with any set-backs seemingly being used by traders to enter into new, or additional, long positions.
Bitcoin looks set to test the $10,000 mark soon, unless the Chinese Lunar New Year throws a spanner in the works.
January was a good month for bitcoin during the three year period of 2012–2014, while the performance was mixed in February.However, since 2015 a clear pattern has been established: BTC drops in January and gains value in February.
The 26 percent decline seen in January this year is the second biggest monthly drop since 2015. Going by the pattern seen in the last three years, the cryptocurrency could see gains this month.
