Bitcoin price (BTC/USD) snaps monthly losing streak with sub-$3,900 Thursday close

Bitcoin price (BTC/USD) snaps monthly losing streak with sub-$3,900 Thursday close

 

The Bitcoin price (BTC/USD) has edged higher on Friday morning, the largest digital coin on the market continues to struggle to break through the $3,900 mark.

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The original cryptocurrency had a lacklustre session on Thursday, with frequent, albeit minor, price fluctuations hindering its momentum. The digital coin made one big move in the afternoon, when its price surged to a three-day high of $3,906.06. However, this turned out to be just a temporary spike, as the coin swiftly pulled back to lower levels. BTC finished the day at $3,854.79, slightly higher its opening price of $3,848.26.

That close was enough to put an end to Bitcoin’s streak of six consecutive monthly losses. Having started February at $3,460.55, the coin gained 11.3% last month. It also had a brief spell above $4,000 last week, but, ultimately, it was unable to defend that level.

In a recent note to clients, eToro senior market analyst Mati Greenspan suggested that the crypto market was showing signs of resurgence following a difficult 2018.

“The last eight months is already being dubbed the ‘crypto winter’ and while prices were falling, it was understandable that the large incumbent financial institutions had shelved some of their crypto projects,” Greenspan wrote, as quoted by Forbes . “Now that the market is showing signs that spring is coming, those plans are back on the table. After all, they wouldn’t want to miss out on the next bull run.”

After a quiet start […]