July Could Be a Good Month for Bitcoin: Matrixport Analysts

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According to a recent Matrixport report, a new bullish phase is expected to start in July, which could potentially see the value of Bitcoin rise more than it did in June of 2023.

Historically, on average, July has recorded a strengthening of BTC by 11% every year since 2013.

Several of the past Julys have seen even more impressive increases, such as the 27%, 20%, and 24% growth rate from the last three consecutive years.

Markus Thielen, the head of the research division, has reported that:

“Typically the summer months are a time of consolidation in Bitcoin, with August typically seeing little change before dropping again in September due to active sellers.”

Matrixport is anticipating that BTC will reach the $35,000 mark next month, before dropping back down to $30,000.

That will be followed by a more gradual rise to $40,000 before finally reaching a proposed $45,000 by the end of the year.