Three Cryptocurrencies That Have the Potential to Skyrocket in February

The cryptocurrency market got off to a pretty good start to the year, with Bitcoin hitting as high as $48,000 in January. In addition, the SEC approved the BTC ETF, paving the way for crypto markets to attract new investments from financial institutions worth a trillion dollars. This raised hopes that the probability of a rally in the market would increase.

Contents of the Guide

• 1 Three Cryptocurrencies You Should Follow In February
  • 1.1 Bitcoin
  • 1.2 Ethereum
  • 1.3 Shiba Inu

Three Cryptocurrencies You Should Follow in February

Bitcoin

Bitcoin has fallen from the price of $48,000 at the beginning of January to $42,000 but remains at the resistance level. BTC outperformed the charts when the U.S. stock market was on a slippery slope due to the Red Sea crisis in mid-January. When financial institutions take another entry position into cryptocurrency, BTC has the potential to move to another upside. When the price climbs to the $45,000 level, it is often recommended to calculate to take profit.

Ethereum

Ethereum tends to move in tandem with Bitcoin and can generate returns on par with BTC. Historically, BTC and ETH have performed well in February, and this trend is likely to be repeated in 2024. The cryptocurrency market is firmly settled, breaking new resistance levels every week. Therefore, the price of ETH may increase this month, and it is advisable to initiate profit bookings when it climbs up the charts.

Shiba Inu

Leading meme coin Shiba Inu is currently trading with five 'zeros' and has more chances of deleting a 'zero' this month. The Shibarium layer-2 network can burn a number of SHIB tokens, which could drive up its price in indices. However, an upward trajectory may not last long, as SHIB may head south after the burns. When the token reaches four 'zeros', it is advisable to sell and jump ship.

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