Bitcoin, which had its worst January since 2018, started a new month. BTC, which broke new records in January, February, March and April in 2021, started the new year with decreases.
The price of Bitcoin, which fell to the level of $ 32,900 in January, rose to $ 39,000 for the first time in a long time in the last 24 hours.
Expressing that $ 40,000 is an important resistance at this stage, experts draw attention to the blue trend line shown on the chart in BTC.
Because the downtrend, which has been formed since $ 69,000, can end with the upward break of the blue line, and it can be said that the downtrend is “passed for now”. In general, February is expected to be more positive for cryptocurrencies.
Statements from leading analysts saying “everyone is waiting for a decline, so the rise is ready” raises hopes for February. Because it is known that a different situation occurs in the market than everyone thinks.
On the other hand, a decree with the force of law on cryptocurrencies is expected to come from the USA this month. It can be said that this news will be the most important development for February at the moment.
You can watch our video below, where we discuss the important developments on the first day of the new month: