Bitcoin Continues Its Recovery and Hits Highest Level in Over a Month

February brought a much-needed breath of fresh air for investors as Bitcoin crossed $42,000.

In January, Bitcoin lost 18% of its value, marking its worst start to a year since the crypto winter of 2018. February brought a much-needed breath of fresh air for investors as Bitcoin crossed $42,000 for the first time in three weeks over the weekend.

Bitcoin Reaches Highest Level in Over a Month

Continuing its strong run that began over the weekend after the Fed released its better-than-expected U.S. jobs data, Bitcoin has gained an additional 5% to rise to its highest level in over a month. 


Bitcoin’s recent gains saw its price peak at an interday high of $45,300, a level last reached on January 5. Since then, Bitcoin has dipped back to stabilize around the $43,930 level.

The 24-hour price chart of Bitcoin (BTC). Source: Tradingview

Over the last five days, the price of Bitcoin has risen by 18%, moving from $37,310 to its current price of $43,934. As a result, Bitcoin’s market cap has risen from $704 billion on Friday morning, February 4, to $832 billion.

The five-day price chart of Bitcoin (BTC). Source: Tradingview

Bitcoin’s gain has helped the global crypto market cap briefly cross $2 trillion for the first time in more than three weeks. The Bitcoin Fear and Greed Index is now at 48 (neutral), its highest score since November 23 (50), when BTC was priced at $56,689.

On the Flipside

  • Analysts, including Noelle Acheson of Genesis, aren’t convinced on Bitcoin’s recent gain, suggesting it may be just a short-lived “bounce.”

Why You Should Care

With Bitcoin now stabilizing around the $43,800 zone, the sentiment around the world’s largest crypto has changed from when it traded below $40k.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia