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Following a poor performance in June, which saw the Bitcoin declining roughly 7% during the month, Bitcoin may have a significant comeback in July, said experts.
Historical Trends and Analyst Predictions
Data, which follows Bitcoin‘s monthly returns since 2013, shows that the price fell as high as 6.96% last month and usually averages a decline of 0.35% in June. In a June 30 article on X, crypto markets expert Ali Martinez pointed out that, historically, whenever June finished in a downturn, the next month usually witnessed a spectacular return with Bitcoin averaging 7.42%. BTC has seen minimum monthly gains of 8% in seven of the eleven July trading months. Memecoin analyst Murad reflected this in a message to their 103,000 followers on X, stressing the quick historical returns Bitcoin has had in July. For the last six straight years, Murad said, Bitcoin has generated minimum increases of 28% in the first few weeks of every July.
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Difficulties and Potential Market Pressures
Nonetheless, some experts believe that July might be a more difficult month than normal based on significant Bitcoin sales from the German government and the forthcoming Mt. Gox repayments, which could influence the price of the cryptocurrency. Starting in the first week of this month, these repayments—expected to be roughly $8.5 billion in BTC given back to creditors—are With just $4 billion of this money probably to enter the BTC market, some experts feel the effect may not be as severe as anticipated despite these possible pressures.
Notwithstanding headwinds, Jonathan de Wet, chief investment officer of ZeroCap, a digital asset trading company, observed last week that Bitcoin has been trading powerfully around the low to mid $60,000 zone. He expected the asset to remain around this level, but if Mt. Gox creditor obligations hit the market, he conceded it may fall below its “key support” level at roughly $57,000 in the next weeks.
With an average monthly increase of 46.81% since 2013, Bitcoin’s highest monthly performance historically usually falls in November. Although past patterns indicate promise for July, it is yet to be seen how outside events will affect the price of Bitcoin this month.
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