Bitcoin July Gains 9.1% Average Over Last 10 Years

Crypto financial services company Matrixport has highlighted Bitcoin's historical performance in July, noting that the month has often seen positive returns. According to Matrixport's analysis, in seven of the last ten years, Bitcoin has closed July with an increase, with an average return of 9.1% during these months. The analysis also pointed out that in the three years where Bitcoin experienced a decline, the losses were minimal, remaining in single digits. Notably, five out of the seven years with positive returns saw strong double-digit rallies.

As July approaches, market optimism and bullish expectations are on the rise. Matrixport's analysis suggests that this historical trend could repeat itself, with the potential for Bitcoin to test the $116,000 level in the coming weeks. This expectation is grounded in both past performance data and the observed increase in investor sentiment during July. The analysis indicates that a combination of technical and sentimental indicators could signal the beginning of a new bullish wave in the market.

Matrixport's insights underscore the significance of July as a historically strong month for Bitcoin, with a track record of positive performance and minimal losses during years of decline. The company's bullish outlook for the coming weeks is based on a thorough analysis of past trends and current market sentiment, suggesting that investors may see substantial gains if the historical pattern holds true. However, it is important to note that this is not investment advice and should be considered as an informative analysis only.