RATE Group | Three Catalysts that Could Send Bitcoin Price Higher in February
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Three Catalysts that Could Send Bitcoin Price Higher in February

01 Feb Three Catalysts that Could Send Bitcoin Price Higher in February

Posted at 14:09h in Bitcoin News by

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It is February 1 and bitcoin is up by a modest 0.52 percent.

The benchmark cryptocurrency left an impressive month behind in January, returning 30.27 percent in profits against an otherwise gloomy global market outlook. The wild move upside marked bitcoin’s best January close in seven years, convincing traders that the gains could grow further heading into February.

bitcoin, cryptocurrency

Bitcoin maintaining gains to open February in a green territory | Source: Yahoo Finance

So it appears, bitcoin’s bullish continuation theory – actually – has merits in the form of both fundamental and technical factors. NewsBTC has listed the top three upside catalysts among them, as follows.

#1 Bitcoin Correlation with Gold

The first signs of explosive growth in bitcoin prices came on the sidelines of a US-Iran geopolitical conflict. The cryptocurrency’s gains followed similar moves in the gold market as investors’ appetite for safe-haven assets surged. That brought an otherwise unpopular gold-bitcoin…

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