The cryptocurrency industry has witnessed several changes over the past couple of months. Despite its slow start into 2025, Bitcoin (BTC) managed to record an all-time high of $109,114.88. The king coin has clearly raised the expectations of the community. While investors closed January on a good note, BTC holders are hopeful about the asset’s rise in February. But what are the driving forces of the king coin during the coming month?
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Looking Into The Current State of Bitcoin
The world’s largest cryptocurrency has been riding the volatile wave. Bitcoin surged to a high of $106,418.77 earlier today bringing back hope into the market. But the asset failed to latch on to this level as it slipped back down to a low of $103,962.94. During the time of writing, the king coin was trading at $104,670.81 following a 0.48% drop over the past 24 hours.
Bitcoin’s latest price change comes with the US Securities and Exchange Commission approving a joint Bitcoin and Ether exchange-traded fund (ETF). Through Bitwise’s latest ETF, investors will be able to experience both digital assets in a single, regulated financial fund.
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February A Bullish Month?
With Bitcoin average gains of 15.66% in February, the month usually yields strong profits. In other years, such as 2017 and 2021, rewards are considerably greater. The asset has recorded an uptick almost every month except for 2014 and 2020. In 2024, the king coin recorded a 43% rise during the second month of the year. Bitcoin could follow a similar trend in the coming month and record notable gains.
In addition to this, the Chicago Mercantile Exchange Group (CME) revealed that, subject to regulatory permission, it would begin offering options on Bitcoin Friday Futures (BFF) on February 24. While some believe that the asset will reclaim its previous high, a few others suggested that BTC could hit a new peak.
How High Can The King Coin Rise In February?
According to data from CoinCodex, the maximum price that Bitcoin will trade at a high of $ 128,347 in February. This represents a 22.83% rise from its current price level. The average trading price of the asset during this period is $117,379. It is quite evident that BTC is all set to record a new peak in the coming month.
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