🔥🔥🔥 Bitcoin could still reach new heights this month! 🤔🤔🤔🚀🚀🚀
✍️ July is often a turning point for bitcoin. A period where the crypto asset shows signs of recovery after significant declines. As this year’s July comes to an end, BTC is still struggling to break the $70,000 mark. Investors wonder if the crypto could still surprise before the month closes.
📌 July, a crucial month for bitcoin
Since 2013, July has regularly marked turning points for the price of bitcoin. The crypto asset generally records a significant increase during this period. In 2020, for example, BTC experienced a dramatic 24% increase in July, kicking off a major bullish cycle. At the start of this July, this historical trend led analysts to anticipate a potential rise of 10% to 25%.
However, the recent drop in bitcoin’s price, which lost more than 7% in a week, seems to contradict this positive trend. Analysts attribute this decline to decreased interest in Bitcoin ETFs, with significant withdrawals observed from major funds like Fidelity Wise Origin and Grayscale Bitcoin Trust.
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