History Says Bitcoin Is Leaning For A Strong Performance In July!

Last month was a bit of a gloomy month for crypto lovers. Last month we saw a poor performance of Bitcoin. Bitcoin has lost about 7% in the last month. But other old coins fell by 50 to 100 percent. Even that social trend still exists. And for that reason it has created a panic among many investors. Many think it is actually a bull run or a bull trap. So last month was a bad month for investors.

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If we look at past years, we can see that the price of Bitcoin has historically fallen by an average of 0.35% in June. If we look at previous years in the same way, we will see such a scenario in June. It is generally seen that June ended on a downward trend in 2013 as well. But there is a glimmer of hope that even those times saw a roaring comeback the following month, July. Also following the past record it is expected that this month Bitcoin is leaning towards a strong performance in July.

Similarly, if we look at the past, the same statistics are beckoning ahead. Following the past record it is expected that the rapid historical rebound that started this month is indicated. If we look at the past years, Bitcoin has made a minimum of 28% in the first few weeks of July for the last six consecutive years. However, the current month could be a tough time for investors. Because the current month may be more difficult than usual. As such, this is partly due to the significant sale of Bitcoin by the German government and the upcoming Mt. Gox payments may put pressure on Bitcoin prices.

Another important point is that as of the first week of July, approximately $8.5 billion in outstanding BTC is expected to be paid to all creditors. And that's why the market may feel a big pressure this month. However, the impact of these debt repayments may not be as severe as expected for many investors. As we have seen the price of Bitcoin drop a lot in the last few days and suddenly came close to around $58 thousand. One thing to note, however, is that Bitcoin is trading solidly in the low-to-mid $60,000 range despite the headwinds. However this month could be a tough month as it may come down to its "core support" level in the coming weeks. Because Mount Gox hit the creditor debt settlement market However, expect the market to bounce back from these and we may see a bull fight soon.