Bitcoin is poised to challenge record highs with its best monthly performance since October 2021
Jinshi data news on February 28th, Bitcoin has risen for the fifth consecutive day, with the potential to achieve the largest monthly increase since October 2021. As of February, except for 8 trading days, all other trading days have seen increases, with a cumulative increase of 39% for the month. The launch of a spot Bitcoin ETF in early January in the United States triggered a buying frenzy and weakened concerns about the Federal Reserve possibly maintaining higher interest rates for longer. The next Bitcoin "halving" will take place in April, and bullish sentiment is rising as it is believed that it may soon surpass the record high near $69,000 reached in November 2021. "We see evidence of increasing interest in Bitcoin from retail and institutional investors," said Matthew Sigel, Director of Digital Asset Research at VanEck Associates. "History shows that steeper and more intense rallies can be expected."
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