Monthly gain for Bitcoin; Up 11%

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  • BTC break half year downward slide to close at $3,854
  • Technical Indicators suggest, BTC in Over-bought region

After posting continuous monthly losses for six months, Bitcoin ended the losing streak by posting 11.5% return in February. Increase in Bitcoin price also helped wider Coin Index to rise by 16%.

However, the outlook seems to be not that bright. The Global Strength Indicator, which measure technical momentum of Bitcoin poses bearish channel for Bitcoin as it fails to sustain $4,000 for the third consecutive month.

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