The crypto market is nearing another monthly close, which is largely expected to be bullish. The month of February has been bullish, posting big gains regardless of the trend of the previous month. By registering two consecutive bullish monthly closes, it can be derived that the crypto markets it may have risen beyond bearish captivity.
But how long will the uptrend continue? And if history repeats itself? Will Crypto Markets Fall Again in a Deep Bear Market?
Historical crypto space price action suggests that February has been a bullish month, posting an average gain of 187.83% since 2011 averaging 12.52% per year. Excluding the 2018 bear market, which saw its action seen in the first few weeks of 2018, crypto markets posted magnificent gains for the rest of the year.
Sadly, the markets are only up 2.12% compared to the previous 39.83% and therefore the fear of a bearish close still haunts the token.
With reference to the chart above, it can be assumed that after February, April may generate equal or higher gains, as March may remain consolidated or bearish. Also, in the sharp bearish case, the entire second quarter has been strongly bearish over the past two years. Therefore, it is very important that the crypto space stays bullish until the monthly close, as a nice rally could be started in the future.
collectively, bitcoin prices they are becoming unpredictable day by day and the historical profit and loss chart above bears out this statement. 2021 was marked as one of the bullish years, but still, the second quarter saw a massive price reduction. Also, March has been bearish for a long time and a bearish close to February may fuel bearish sentiments in the market.
