What kind of price action can we expect from the altcoin market in July?
If we look at the monthly historical returns, we see that there have been 6 bearish Julys and 6 bullish Julys But if we look closely, we can see a pattern
Since 2013, if June was also bearish, then July has never been bearish
If June was bearish, then July was bullish in all cases The average return for July is about +8%
Well, okay If we calculate the average return for only bullish Julys (excluding bearish Julys), we get 16.53%
Over the past 7 years, July bulls have delivered double-digit percentage returns
Their average is 19.58%!
Only the first two bullish Julys were in single digits, in 2013 and 2015
If history repeats itself, we may see BTC prices around $80,000 by the end of July