Ethereum, the second-largest cryptocurrency by market capitalization, is on track to maintain a consistent pattern from its historical trends. Since its launch in 2017, Ethereum’s price has ended all but one of the following Februarys with a positive return. This trend is so pronounced that many crypto analysts view February as a bullish month for Ethereum and use it to predict altcoin market behavior for that time of the year.
Ethereum’s February Performance
Except for February 2018, when Ethereum’s price dropped 24% within the month, the remaining seven Februarys have seen the altcoin close with positive returns. 2017 marked Ethereum’s most profitable February after the cryptocurrency gained 48.09%. The next most profitable February was in 2024 after the crypto market started a bull run following the SEC’s approval of a Bitcoin ETF.
This price surge saw Ethereum gain 46.28% during the period, reinforcing the flagship altcoin’s February behavior. Apart from the highlighted two months when Ethereum gained nearly 50% value, the altcoin’s gains in the remaining five months were lower. However, Ethereum did not record losses during those times.
Related: Crypto Overcrowding: The Real Reason Altcoin Season Stalled
Ethereum’s Current Price Action
Meanwhile, Ethereum’s current price behavior suggests the altcoin may produce a similar result and remain consistent with its historical pattern. Despite not maintaining a particular direction in January, ETH’s price shows recovery signs less than 24 hours before the end of the month. The daily chart pattern suggests the recovery may continue in early February.
Related: Can Ethereum’s February Consistency Kickstart Altcoin Gains?
While past behavior does not guarantee future outcomes, prevailing sentiments suggest an altcoin market rally may be imminent. With Ethereum as a leading altcoin, analysts expect the cryptocurrency to lead the way for the rest of the market to follow. Specifically, socio-political and economic adjustments surrounding the crypto industry point to a potential surge in the altcoin market, and February seems like the perfect time for the rally to begin.
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