Bitcoin (BTC) may be on track to achieve a historic milestone by closing its seventh consecutive month in the green. According to data from Tradingview, if Bitcoin’s price remains above February’s closing price of $61,130, the cryptocurrency could print its seventh consecutive monthly green candle at the end of March. This would mark the first time in history that Bitcoin has experienced seven months of consecutive price increases.
In the past, Bitcoin has seen corrections during the pre-halving period. However, the recent inflows from spot Bitcoin exchange-traded funds (ETFs) could potentially lead to a price increase in the coming days, as suggested by Matthijs de Vries, the founder of AllianceBlock.
Looking at historical chart patterns, Bitcoin is currently in the pre-halving correction zone, as noted by crypto analyst Rekt Capital. Despite a sell-off by spot Bitcoin ETFs, investors are still buying the dip, as highlighted by Bitcoin analyst and managing partner at CMCC Crest, Willy Woo.
It’s important to note that this article does not provide investment advice or recommendations. As with any investment or trading decision, there are risks involved, and readers should conduct their own research before making any decisions.