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Bitcoin ends January down 17%, making it the third worst January in Bitcoin history

Bitcoin ends January down 17%, making it the third worst January in Bitcoin history

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Answer Bitcoin ends January down 17%, making it the third worst January in Bitcoin history

The price of Bitcoin closed the month of January in the negative.

History shows that January tends to be a rather negative month for Bitcoin in terms of price performance.

January 2022 did not go well despite the optimistic expectations that preceded it, as it became the third worst January for Bitcoin, after Bitcoin recorded a decline of almost 17%.

Bitcoin price ends January 2022 with a significant decline:

In mid-November, the entire crypto market scene looked very bullish driven by the euphoria of accepting the first-ever Bitcoin futures ETF in the US, with Bitcoin and several altcoins setting records.

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For example, the price of Bitcoin reached an all-time high at the time, reaching $69,000, after recovering from recessions in mid-2021.

But when the hype around the SEC approval started to wane, Bitcoin started to crash.

Thus, Bitcoin finished the year below its peak a month and a half ago and was unable to meet all the bullish expectations from crypto insiders and foreigners who had predicted a price of $100,000.

January 2022 didn’t start well, as Bitcoin dropped a few thousand dollars and stayed below $45,000 for a few weeks before heading straight to lower levels in the middle of the month.

The price of Bitcoin plunged more than $10,000 in less than a week and fell below $33,000, hitting its lowest price since late July 2021.

Although Bitcoin recovered about $5,000 in the following week, it closed the month of January down sharply by 16.68%, according to data from Coinglass.

As we were told at the beginning of the article, January 2022 is the third worst month in the history of Bitcoin, as Bitcoin previously recorded losses in January 2015 and 2018, with rates of 33.05% and 25.41%, respectively.

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Source: Coinglass
Source: Coinglass

Will February be better?

As the above chart shows, January is usually a bloody month for bitcoin, with a few exceptions.

On the other hand, February is significantly more positive.

And the beginning of this month (February 2022) is going in this direction, as the price of Bitcoin reached the $39,000 level for the first time in ten days.

Despite violently rejecting at first, he returned to attacking and currently sitting around that level once more.

History shows that February 2013 was the second most successful month in the history of Bitcoin as the price increased by more than 60%.

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Bitcoin in February of last year was also impressive, with Bitcoin adding more than 35% during those 28 days.

Will Bitcoin bounce back this February?

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