Bitcoin, Historically July is a bull market

This article is machine translated
Show original

▲ Bitcoin (BTC) ©CoinLeaders

The cryptocurrency leader Bitcoin (BTC) fell by about 7% in price in June, according to CoinGecko.

However, on the first day of July, Bitcoin rebounded by 3%, once recovering the $63,000 level.

Cointelegraph reported that looking at past data, Bitcoin could see a strong rebound in July.

According to CoinGlass, which has been tracking Bitcoin's monthly performance since 2013, when Bitcoin fell in June, it rose an average of 7.42% in July.

The media pointed out that the redemption of 140,000 BTC from Mt. Gox and the selling taxes of government agencies such as Germany could also lower the price of Bitcoin.

Singapore-based cryptocurrency trading firm QCP Capital also added to its optimism through its official Telegram channel on the same day, saying, "Bitcoin broke below $60,000 last week, but this week it started the week at $63,700. All indicators are pointing to a bull market in July."

He continued, "BTC spot ETF also recovered net inflow last Friday. It appears that expectations for the approval of Ethereum (ETH) spot ETF have driven the recent rebound."

As of 9:43 PM on July 1 (Korean time), the price of Bitcoin (BTC) is recording $62,776, up 2.5% from 24 hours ago.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments