Bitcoin in the News : 2018-02 Price

If the first week of February looked like a continuation of January (as in Bitcoin in the News : 2018-01 Price; 'a steady downward trend during the course of the month'), then the rest of the month looked more like a typical month in 2017 (see BITN : 2017-12 More++; 'Exactly six of the 12 months showed a steady upward trend during the course of the month').

Bitcoin Price Index

I ended the '2018-01 Price' post with a link to a CoinTelegraph.com article from its Bitcoin Price Analysis (BPA) for February. Here it is again, with an extract of its section titles:-

• 2018-02-02: Finding a Price: Why is Bitcoin Worth What it is? • 'Fear the fear'; 'Buy the rumor, sell the news'; 'Good old supply and demand'

It's not exactly revolutionary thinking, is it? Most BPA articles discuss technical analysis and I should look at those in depth in one of my posts. In the meantime, here's a selection of other BPA articles for February. The first two coincided with the steep slide during the first week of the month.

• 2018-02-05: Bitcoin Dips Below $7k Amidst News of China’s Full Ban of Cryptocurrency Exchanges
• 2018-02-05: Traditional Markets Nosedive, Following Bitcoin’s Own Slump Below $7k

The rest are from the price recovery during the last three weeks of the month.

• 2018-02-15: Crypto Markets Continue Experiencing Slight Growth, Bitcoin Passes $10K
• 2018-02-24: Regulations And Their Influence On Cryptocurrency Prices
• 2018-02-26: Crypto Markets Climb Towards Green, Bitcoin Above $10,000
• 2018-02-27: Crypto Market Slightly Grows, Some Altcoins In The Red

Note the two references to the $10K level. Is it a floor or a ceiling? I doubt that anyone really has any idea what a bitcoin is worth.