Experienced Analyst Said “Pay Attention to July in Bitcoin”, Pointed to Important Data About BTC! Will History Repeat Itself?

Bitcoin It made its weekly, monthly, quarterly and semi-annual closings yesterday and started July and the second half of the year positively.

Monthly decline exceeded 10 percent in June BTCbegan July on a bullish note, rising above the $63,800 level.

At this point, eyes are turning to July. Let’s look at the answers to the questions: Does Bitcoin like July? How did it perform in previous Julys?

The table below shows Bitcoin July You can see the bear performances comparatively.

As can be seen in the table, while Bitcoin has an upward trend in July, it is seen that BTC has closed July in the red, i.e. with a decline, only in 4 years since 2013. Apart from these 4 years, it is seen that it has closed 7 years with an increase.

Historical Data Points to a Rise in Bitcoin!

Historical data for Bitcoin presents a different picture for June and July. The successful analyst who drew attention to this situation Ali Martinez, He said that Bitcoin tends to rally strongly in July after having a negative June.

According to the analyst, Bitcoin has lost value in a total of six June months since 2013. After each June that it fell, it rose in every subsequent July.

In the table he shared Pointing out that Bitcoin fell in June of 2022, 2021, 2020, 2018, and 2013, but experienced a major rise in July. If history repeats itself, the analyst expects BTC to experience a major rally this July as well.

“Historically, when Bitcoin has had a negative performance in June, it has tended to recover strongly in July.”

When the table is examined, it can be seen that Bitcoin fell by 29.89% in June 2013 and then rose by 9.6% in July;

In 2018, there was a 14.62% decrease in June; and a 20.96% increase in July;

In 2020, there was a 3.18% decrease in June; and a 24.03% increase in July;

In 2021, there was a 5.95% decrease in June; and a 18.19% increase in July;

In 2022, it is seen that there was a 37.28% decrease in June and a 16.8% increase in July.

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

*This is not investment advice.