Bitcoin [BTC] The difficult month of June is over and a new beginning has begun this month. BTC’s price has fallen by 8.44% over the past thirty days. King coin fell below $60,000, sending investors into an investor frenzy. Recovery was not too far off. As of press time. BTC traded at $62,293 and had a daily decline of 0.46%. Asset is 14% lower than its previous high of $73,750. It is important to ask if this king coin will reach its highest level in the next month.
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Changelly predicts that Bitcoin is going to be a thing of the past. trading At an average of $69 030.74 per month in July. It could rise to $74,720.48, which would be above BTC’s previous high. Bitcoin should reach this price between the 8th and 10th of July.
Also Read: Bitcoin (BTC): Analysts Predict ‘Bullish July’ After 7% Fall in June
Bitcoin: The catalysts of its rise
Bitcoin ETFs are a good indicator of the investor’s optimism. Exchange-traded funds listed in the US attracted almost 130 million dollars. [ETFs] On July 1, The largest amount has been recorded since the beginning of June. In June, there was a withdrawal of 900,000,000 dollars. This change is seen as a sign of optimism for Bitcoin in the next few weeks. QCP Capital, a Singaporean-based company, said:
“Bitcoin has a median return of 9.6% in July and tends to bounce back strongly, especially after a negative June (-9.85%). Our options desk also saw flows positioning for an upside move last Friday into the month-end, possibly in anticipation of the ETH spot ETF launch. Many signs point to a bullish July.”
Bitcoin could have an upbeat July, if history is any guide and the market’s sentiment remains positive. King coin may even achieve a record high.
Also Read: New ETF Proposal Aims To Combine Bitcoin and Gold
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Source: watcher.guru