Bitcoin
Bitcoin Price Prediction for July: Will BTC Recover?
The month of June was tumultuous for the price of Bitcoin as it brought a lot of volatility.
Unfortunately, the price action resolved to the downside and the bears managed to push it down by 7.12%.
Will July be different?
Bitcoin price on the rise in July
With June behind us, it’s important to note that Bitcoin has been on a complete rollercoaster ride over the past 30 days, rising as high as $72,000 and falling to a low of just over $58,000.
That said, the sellers ended up victorious, reducing the price by about 7% overall.
But will things change in July? Well, according to For popular analyst Ali Charts on X, July is traditionally a strong month for Bitcoin.
Historically, when Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, BTC showed an average return of 7.98% and a median return of 9.6% during this month.
BTC Bulls attempt a comeback
If the last few hours are any indication of how the month will go, then the above appears to be true.
Bitcoin’s price has increased by 4% over the past day, currently trading at around $63,200. This has also boosted its weekly performance in the green by around 1.6%.
Naturally, this has left many short positions underwater, with liquidations in the last 24 hours totaling $106 million, with around 85% of them being from sellers.