Bitcoin (BTC): Will History Repeat Itself In July?

Bitcoin prices history for a bearish June is confirmed; however, the silver lining is that July could close positively.

HIGHLIGHTS

• The Bitcoin prices recovers after a highly bearish June.
• History hints that July could be more promising for the coin.
• The Effect of Spot Bitcoin ETF on its Recovery.

Throughout this month, Bitcoin’s (BTC) price resisted many recovery efforts in line with historical trends. Meanwhile, the current price of Bitcoin has shown two different performances today. From $60,630.05 to $61,605.23 within 24 hours, the crypto surged by 1.23%.

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Will July See the Repetition of its History in Bitcoin?

The history of Bitcoin pricing is one of the most interesting based on observed patterns. Cryptorank insights indicate that this will mark June as the second negative closing for bitcoin prices this month.

On the other hand, January ended with 0.87%, with February and March showing 44% and 16.3% respectively. It should be noted that after the launch of spot Bitcoin ETFs, BTC’s price increased to it’s All Time High (ATH) at $73,750.07 in March. April saw a shift towards bearishness as it closed down by 14.7%.

That said, the coin increased by 11.1% in May, but this month’s drop of -8.79% is now reversing that trend. Cryptocurrency has had more historical crashes since July 2021. Bitcoin has not been particularly bullish in May as for the last five years only one year ended in the black.

Bitcoin’s Volatility and Expert Optimism Amidst Market Fluctuations

Experts still believe in its future posture despite the chaotic Bitcoin trading ranging between $58,554.25 and $71,907.85. Unlike June last year which was 11.9% high at closing time on 30th July, BTC fell by 4.04%. If it turns out that way then its price might get higher than where it started.

There are no major regulatory headwinds facing BTC but months like October with a history of bullish trends do provide some hope for this coin.

BTC Growth Catalyst To Watch Out For

Just a few fundamentals keep driving the resilience and growth in Bitcoin prices. For now, spot BTC ETFs remain as to why the coin has not dipped below the $50k support zone.

It is worth noting that spot ETFs have suffered much so far this month regarding their outflows; however, there are encouraging trends on these ETF products because many companies are trying to get into the cryptocurrency industry in general.

Should this happen, then a possible influx of interest in the project in the next few months could potentially bring the Bitcoin prices back to its previous all-time high (ATH).