Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 2797
Markets: 83052
CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
Market Cap
24h Vol
2797
Cryptocurrencies
53.6%
Bitcoin Share
NewsBTC 2024-07-01 23:30:15

Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum — Here’s Why

Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum — Here’s Why

In the financial market, historical trends often offer a glimpse into potential future outcomes and so far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to predict another fruitful period. A Profitable July For Bitcoin And Ethereum According to seasoned market analysts from QCP Capital, Bitcoin has displayed a median return of 9.6% in July over the years, with a pattern of bouncing back significanly following lackluster performances in June. This year, Bitcoin’s decline of nearly 10% in June sets the stage for a possible uplift in July based on these historical insights. 3/ Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%). — QCP (@QCPgroup) July 1, 2024 Adding to the optimistic outlook, Coinbase analysts David Duong and David Han have corroborated the trend, noting that improved liquidity conditions expected in July could further “bolster” the market. Related Reading: Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run? The aftermath of June’s sell-offs has cleansed the market of excess positions, potentially paving the way for more stable and positive price movements. Moreover, the trading volumes for Bitcoin and Ethereum, encompassing both spot and futures across global exchanges, have witnessed a dip from $90 billion in May to $75 billion in June. This consolidation in trade volumes is seen as setting a healthier stage for the next wave of market activity, according to the analysts.. The positive July seasonality is not just a pattern observed in the top cryptocurrencies but is also underpinned by broader market dynamics. Analysts like Ali have pointed out that the recovery patterns post-June slumps particularly indicate “strong bounce back” in July performances historically. 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 has been particularly true for Bitcoin, which has shown an average return of nearly 8% during this month. BTC Current Market Performance It is worth noting that the setup for a bullish July is further supported by the technical analysis of Bitcoin’s recent price movements. In the past 24 hours alone, Bitcoin has surged by 2.7% currently trading at $63,104, marking a promising start to the month. This recent uptick has pushed its weekly gains to a similar 2.7%, reflecting growing investor confidence. Despite these historical and current positive indicators, the predictions aren’t without their challenges. Market conditions, including macroeconomic factors and regulatory developments could still influence crypto prices in a way not expected. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows Additionally, while analysts provide a hopeful outlook based on statistical and historical data, the volatile nature of cryptocurrency markets means that significant divergences from past trends can still occur. Featured image created with DALL-E, Chart from TradingView

Most Read News

Market Cap
24h Vol
53.6%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.