While Bitcoin had a negative price performance in June, historical data shows that July has been positive.

According to Ali’s analysis of Bitcoin’s monthly returns, BTC has demonstrated a tendency to rebound strongly in July following a negative performance in June.

Statistical Breakdown of July Performance

The data presented by Ali reveals compelling statistics for Bitcoin’s July performance:

  • Average return: 7.98%

  • Median return: 9.60%

These figures suggest that July has historically been a favorable month for Bitcoin. This is particularly after a downturn in June.

Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month. pic.twitter.com/fJaIwc7Eob

— Ali (@ali_charts) June 30, 2024

Historical Context: A Decade of Bitcoin Returns

Ali has shared the chart, which includes the performance of Bitcoin over the past decade. The data presented by Ali provides an overview of Bitcoin’s performance from 2013 to 2024:

  • 2020 saw an exceptional July performance with a 24.03% gain

  • 2018 recorded a 20.96% increase

  • 2017 experienced a substantial 17.92% rise

While certain July’s were positive, it was not the same situation in 2014 and 2019.

  • 2019 showed a modest decline of -6.02%

  • 2014 saw a significant drop of -18.44%

The relationship between June and July performances is particularly noteworthy:

  • 2023: June (-6.98%) rebounded to July (+11.98%)

  • 2022: A severe June drop (-37.28%) was followed by a strong July recovery (+16.8%)

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This pattern suggests that negative June performances often precede positive July returns, though exceptions exist.

While the data shows a recurring pattern of performance, historical performance can’t be taken as foolproof evidence to predict the future. With the debut of Bitcoin ETF in 2024 and various other factors, this July could potentially be different.

Read more: Here’s Why Ethereum Name Service (ENS) Price Is Pumping

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The post Here’s How Bitcoin (BTC) Price Performed Historically in July appeared first on CaptainAltcoin.