Bitcoin
The month of February has come to an end. That being said, let's take a look at how Bitcoin and Ethereum performed from the beginning to the end of the month.
According to CoinMarketCap.com, on February 1st, Bitcoin was valued at around $8,690.12. Unfortunately, this number supports the down trend that we have been seeing in the Bitcoin market since Bitcoin hit it’s all time high on December 17, 2018. The Bitcoin price on February 1st is over $1,000 below the price from the previous day – January 31, 2018. This represents a nearly 16% decline in the price of Bitcoin from the last day of January to the first day of February.
Over the course of the month, Bitcoin hit a high of $11,894.40 (February 20th), and a low of $6,162.04 (February 6th). On the last day of February – Feb.28 – Bitcoin was valued at $10,489.80. The differential from Feb 1. to Feb. 28 represents a $1,799.68 increase in price, this is equivalent to a nearly 21% increase in value.
Ethereum
Ether started the month of February with a price tag of $955.23. Unfortunately, in the same manner as Bitcoin, the value of Ether on February 1st supported a downtrend that we had been seeing in the Ether market since Ether hit it’s all time high of $1,426.34 on January 13, 2018. On the last day of January, Ether was worth $1,426.32. The differential from Jan. 31st to Feb. 1st represents a $471.11 drop in the price of Ether – this is equivalent to a 33% drop in value.
Over the course of the month, Ether hit a high of $976.88 on Feb. 3rd and a low of $582.04 on Feb. 6th. On the last day of February, one Ether was worth $862.78. The differential from Feb 1. to Feb. 28 represents a 9.6% decline in the price of Ether which is equivalent to a $92.45 decline in price. Unlike Bitcoin, Ether finished the month in the red, representing a loss in value from the beginning to the end of February.
Alex Dovbnya
Denys Serhiichuk