Now February is left behind us we can look back on a volatile month. A lot of people were, especially in the last days of February, talking about a ‘Bitcoin crash’. When we look back at the results of the Bitcoin and other major cryptocoins in February it turns out that there was a lot of FUD. Let’s take a look.
Another month is gone, so it’s time to take a look at the results in February.
How did the Bitcoin and top 3 cryptocoins perform in February?
When we calculate profits as of the beginning of this year the picture is painted differently. Since the first of January Ethereum (ETH) brought the most profit of the traditional top three coins with 107.41%. Ripple (XRP) was second with 98.87% and Bitcoin took the third place with a ytd profit of 67.91%.
However, although lots of experts are wondering whether ‘altcoin season’ is started they might have missed out the actual start.
Those are the best performing top 25 currencies of February
It turns out that Altcoins were outperforming Bitcoin by far in February. The best performing cryptocurrency of the top 25 in this month was BinanceCoin (BNB) with a gain of 210.79%. Runner up was Crypto.com Coin (CRY) with a profit of 104.66% and the third place was for Cardano (ADA) that, despite an all-time high, made an ROI of ‘just’ 90.16%.
As of the first of January figures look different once again. Best performer of the top 25 cryptocoins ytd is DogeCoin (DOGE) that brought 991.42% profit. Second place is for DeFi Coin Sola Token (SOL), that brought a staggering 881.55% profit and second runner up is Cardano (ADA) with a huge 609.40% profit. It’s interesting to see that DeFi-project AAVE (AAVE) and UniSwap (UNI) are bringing more than 300% ytd profit as well. It seems DeFi becomes really interesting.
This month’s losing coins
Where winners are spotted there has to be losers as well. This months results are no exemption. DogeCoin (DOGE) lost the most (-35.46%) in February. AAVE (AAVE), that lost 25,14% was just slightly better and Ethereum (ETH) completed the top three losers.
When we look at the ytd results once again only Tether (USDT) was a (minor) loss of 0,04%. Bitcoin SV was the lowest regular cryptocoin with a ytd result of ‘just’ 11,29%. Litecoin (LTE) is in the bottom 3 as well with a profit of ‘just’ 38.35% and the last place in this top 3 of ‘shame’ is EOS (EOS) with a profit of ‘just’ 40.33%.
In conclusion we can determine that February was without a doubt a volatile month. In such situations a trading bot (check the Cryptohopper free trial) is a welcome solution. However, this volatility seems to be a healthy correction following fast increases at the start of year. With 11,29% Bitcoin SV (BSV) might be the worst performer of the regular cryptocoins in the top 25, but profits in crypto are still huge considering ytd-performances of popular stocks such as Apple (AAPL) with – 3.93% and Tesla INC with 0.88% (as displayed by CNN).
All results based on data as provided by Tradingview.com