February 2020 Crypto Market Review
Another month full of exciting crypto events has passed – this means it’s time for a crypto market review! Let’s take February into focus and see what happened to the price of main crypto assets and what caused it.
Bitcoin in February
Starting from Bitcoin (BTC) – the leading cryptocurrency went through an 8.6% change in February. BTC started the month off at $9,381 and increased to $10,151 by February 9. The crypto hovered between $9.7K and $10.3K for the next 10 days, until falling below the 10K line for the rest of the month. Bitcoin ended the month at $8,543.
Similarly to other sectors, Bitcoin’s price was partly affected by the Coronavirus – which had officially spread to every continent except Antarctica by February. You can read more about the effects of the virus on the crypto market and other recent news from our blog post.
Other Top Assets
Ether (ETH) had quite a turbulent month and ended up gaining 20.9% in February. ETH welcomed February at $183.6 and had its first considerable climb on February 5, when the crypto reached $203.8. Ether continued climbing and crossed the $280 line on February 14. The asset stayed around $260 until the last week of the month. ETH saw a slight decrease during the last few days of February and ended the month at $217.5.
Ripple (XRP) saw a price change of 4.3% during February. The crypto was priced at $0.241 on February 1 and started the month with a steady increase, reaching $0.283 on February 6. The growth continued and XRP reached its monthly high of $0.345 by February 15. The second half of the month saw a slight downturn and Ripple stood at $0.229 on February 29.
Litecoin (LTC) was priced at $70.75 on February 1. The crypto gradually climbed to $77.02 during the first week of the month and reached its monthly high of $84.09 by the second. The other half of February brought a price slide, as LTC fell back below the $70 line and was priced at $58.08 on the last day of the month.
Bitcoin Cash (BCH) had a very busy month. The cryptocurrency went from a low of $299.8 to a high of $403 all in February. BCH started February at $380.1 and had its first considerable gain on February 5, when the crypto reached $445.2. The first half of the month brought a steady price increase and BCH reached $493.6 on February 14, before dropping to $412.7 a few days later. Bitcoin Cash ended February off at $306.3.