Will Bitcoin Finish July Green or Red? Historical Data Guides
Bitcoin has recovered from June's negative trend and reached new monthly highs in July. Investors are skeptical since the BTC price remains below $70,000, despite this hopeful uptick. The issue remains whether the Bitcoin price will conclude the month in the green or fall again as the month winds down.
Historical Bitcoin Price Performance
Historical data on volatile assets like Bitcoin might help investors predict price movements. The BTC price has replicated the same tendencies, including the four-year bull market cycle.
On the shorter term, monthly performance may also indicate where the Bitcoin price could go next, particularly if the months coming up to July have done well compared to historical statistics.
Coinglass data shows that Bitcoin's first-quarter monthly returns matched 2023's. Like last year, January, February, and March were green.
In the second quarter, Bitcoin's monthly performance was intriguing. Each month has performed differently than 2023.
Bitcoin rose 2.81% in April 2023, while it fell 14.76% in April 2024. June 2024 had a 6.96% fall compared to June 2023's 11.98% growth, while May 2024 saw an 11.07% increase.
If the third quarter follows the second, July 2024 might end in the green. Since the BTC price lost 11.29% in August 2023, this might indicate a gain in price in August.
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