Bitcoin Closes 1st Green Month After 3 Reds, What History Says May Happen

The month of February was a rocky one for bitcoin but the digital asset had managed to come out ahead in the end. After suffering three long months of red closes, bitcoin has finally recorded its first green month. This is attributed to the rally that began at the end of the month. However, this is not the first time that the digital asset would mark such a trend and past performance helps to speak to what can be expected from here from the cryptocurrency. 1st Green Month Close For Bitcoin Since hitting its peak in November, bitcoin has consistently closed the following three months in the red. It continued to struggle in this pattern until a late February rally broke and saw it close in the green once more. This marks the first green close after three red closes. It is significant given the trends that have been triggered in the past by occurrences such as this one. Related Reading | Short Traders Decimated As Bitcoin Barrels Past $43,000 The most recent one-month green close after three red closes had occurred in July 2021. Now, recall that in July of last year, bitcoin had come out of a peak and headed into three months of straggling prices. However, after making the July one-month green candle, the price of the digital asset had rallied to a new high following the support of the 1 week MA50. Another instance of this was the June 2015 one-month green candle that formed after three consecutive red months. What had follo...