Bitcoin historical monthly chart - february 1st, 2022

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Helloooooo out there in the world of Bitcoin!

My name is Trevor and today we get to look at this year's 1st monthly closing on the Bitcoin Historical Monthly Chart for 2022.

Feast your fearful eyes on the updated chart!

Now if you are looking at this chart for the first time and are a little bit confused, do not worry. 

For a better understanding of what we are looking at here with Bitcoin's price.

Make sure you check out the video or the article below for a more detailed explanation. 

https://www.publish0x.com/trevor-balthrop/bitcoins-historical-monthly-chart-explained-xpplynr

https://youtu.be/8OrOJsz4etg

Now let's dig into that sweet-savory chart, shall we? 

The first month of 2022 here has been an absolutely brutal one for pretty much everyone in the markets right now! 

Last month, we had 2 Red months in a row going on 3 here, confirming our trend is still a downtrend. 

Yucky, I know...

So despite this very obvious downtrend, I was guessing against the price to end January at a very optimistic level of above $50k.

That didn't happen obviously!

This surprised quite a lot of big-name Bullish investors out there too as we instead began to dip! 

This likely led to a lot of the panic selling that took us down to where we ended up with Bitcoin's price. 

Like with anything though, always plan for the worst and hope for the best!

Bitcoin ended January and opens in February for $38,480.00 

The price may have dropped for now however, it is also now much safer to start Dollar Cost Averaging into things like Bitcoin again. 

Or if you were already averaging in and can afford to do so, you can increase how often or how much you are buying.  

If you're totally out of luck and don't know what to do with yourself, 

now is the time that most investors restructure their portfolios, so if you haven't done that yet.

Chop, chop! Get on it!

Now don't forget! 

The trend is your friend until the end and right now we are still in a pretty nasty volatile downtrend. 

Last month we knew things were going to be wildly volatile in all the markets going through January. 

By the looks of it, that volatility will continue this year so big fat warning, be careful out there trading traders! 

Calls of a Crypto Winter and extreme media FUD have convinced a lot of people not to dip their toes back into crypto just yet. 

Including whales!

This is because this downtrend still doesn't look like it has ended quite yet. 

When February ends, markets will have a much better idea of where to spend their money.

The good news is though, Bitcoin and other markets are starting to show the first signs of shifting out of a downtrend.

Once we finally make that shift we could range sideways for quite a while or we could very easily be back up testing All-Time Highs once more. 

I know that sounds crazy, but this is Bitcoin we are talking about here. 

Until confidence is reached and more time has passed, don't go too crazy just yet! 

These are amazing times to start Dollar Cost Averaging instead of trying to time the bottom. 

Markets are in Extreme Fear, and as they say!

Be greedy when others are fearful, and fearful when others are greedy. 

While we might see another month of nasty dumpage, it would likely be very short-lived. 

Many are calling for Bitcoin to revisit $20k or even $10k!

Although that might be nice for those that want to get bigger positions on the best form of currency ever. 

I don't believe Bitcoin will reach those levels again anytime soon, if not, ever again. 

So what does February look like for Bitcoin? 

Well, we just confirmed 3 Red monthly candles in a row and could be headed for a 4th. 

As far as my prediction goes (and of course is in no way financial advice) I think February we end in the Green!

If you were to hodl me to a number though, I'm guessing Bitcoin won't be much higher from the open, maybe $40k or slightly above?

Now before getting too Bullish or too Bearish, we must consider these many different things first really quickly. 

Just because we had 3 months of Red, doesn't increase our chances of the 4th month becoming Green right now. 

We could end up seeing a lot of tough love this month for Valentine's Day and take another massive dumping. 

Look back at our Historical Monthly Chart and you will see we may easily see up to 7 months in a row of downside. 

That would be comparable to the last true Crypto Winter that we experienced back in 2018 and it was a rough one that's for sure! 

If this is true and we are in the next Crypto Winter, we just now finished 3 months into that 7 month series of unfortunate events. 

This means if we truly are in a "Crypto Winter" we have already suffered through the worst part of it.

Not only would that be true, but February would also mark us being halfway through such a devastating thing. 

Here's the catch though...

We may have dropped down this far from All-Time Highs in what seems like was only a few months ago.

Look at where all of us landed!

Where we landed still very much kept us in a larger Bull Market. 

Bitcoin's Halving effects from the last halving seem to be shining through. 

Bitcoin's cycles still appear to be lengthening regardless of the FUD.

What's even more strange is while all of these things are happening.

We are only almost halfway to Bitcoin's next halving.

The next Bitcoin Halving is estimated to occur sometime around Q1 or Q2 of 2024. 

When you look at the bigger picture, everything is coming together quite nicely in the world of Bitcoin. 

Bitcoin lives on, we are all making history together using it, and if any of this gives you chills down your spine too? 

You're still early friends, welcome to the show! ?

Thanks, everyone for checking out the monthly historical chart for Bitcoin, stay safe out there,

and I hope you all have another BEAUTIFUL day in crypto!

This is Trevor's signature

and article!

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Check out my website 

www.TrevorBalthrop.com

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