After a lackluster performance in June, Bitcoin may experience a strong recovery in July. Coinglass data shows that Bitcoin had a drop of 6.96% last month, which is in line with its average decline of 0.35% in June since 2013.
However, history has shown that whenever June ends with a decrease, the following month sees a significant increase, with Bitcoin typically gaining 7.42%. In fact, in seven out of the last eleven July trading periods, Bitcoin has recorded a minimum gain of 8%.
Popular Memecoin analyst Murad also mentioned this trend to their 103,000 followers, pointing out Bitcoin’s rapid recoveries starting in July.
They noted that for the past six years, Bitcoin has seen minimum gains of 28% in the first few weeks of July.
