Problems escaping a restricted price cycle were highlighted in February by commentators, including trading educator Tone Vays and an online analyst known as Filbfilb, who predicted bearish profit-taking occurring at a maximum $12,400 during the Feb. 21 high.
Bitcoin is nonetheless outperforming altcoins Friday as market sentiment produces broad downturns for the majority of non-Bitcoin assets.
BTC has also managed to reclaim market capitalization share in the second half of last month, rising to above 40% of the total market.
The optimism around Bitcoin appears rooted in the technical improvements to its network which received a boost last week.
SegWit now accounts for almost 30% of the total number of Bitcoin transactions, data shows.