Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction

As a seasoned financial analyst with extensive experience in cryptocurrency markets and trends, I have closely followed Bitcoin’s price movements for years. With July coming to a close, I am keeping a watchful eye on the Bitcoin price, which has shown promising signs of recovery after a bearish June. However, given the volatility of this asset class, it is essential to consider historical data and trends before making any definitive statements about its future direction.


July has seen a positive trend for Bitcoin‘s price so far, bouncing back from June’s bearish spell and reaching new monthly highs. Despite this uptick being optimistic, investors are still uncertain due to Bitcoin’s current price staying below $70,000. As July nears its end, the uncertainty looms: will Bitcoin close out the month with gains or yield once more to the bears?

How Bitcoin Price Has Performed Historically

As a researcher studying the investment landscape, I’ve found that historical data plays a significant role in informing decisions regarding volatile assets like Bitcoin. For instance, observing past trends can offer valuable insights into potential future price movements. One such trend is the recurring four-year cycle of Bitcoin bull markets.

In the short term, examining Bitcoin’s monthly price trends can provide valuable insights into potential future movements. This is particularly important when considering the historical performance of the months preceding July and comparing it to past data.

According to Coinglass data, Bitcoin’s quarterly performance for the initial three months of the year (January, February, and March) has mirrored its 2023 trend. Specifically, these months have displayed positive returns, as indicated by green figures on the chart.

In the second quarter of this year, I noticed an intriguing pattern in Bitcoin’s monthly price performance compared to the same period in 2023. Contrary to previous trends, each month displayed a reversal of fortunes – with prices behaving oppositely during specific months.

In the month of April 2023, Bitcoin experienced a gain of 2.81%. Conversely, in the same month the following year, April 2024, Bitcoin suffered a price drop leading to a negative return of 14.76%. This trend continued for May and June as well. The value of Bitcoin rose by 11.07% between May 2024 and May 2023. In contrast, it declined by 6.98% in June 2023 compared to the previous year’s June, where Bitcoin increased by 11.98%.

Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction

Moving into the third quarter of the year, Bitcoin appears to be continuing the pattern set in the previous quarter. As we approach the end of July with just one week remaining, Bitcoin’s price has risen by 7.27%, contrasting the 4.02% decrease experienced during this month in the prior year.

If the third quarter follows the trend of the second quarter, it’s a sign that July 2024 could end up with positive gains. Additionally, considering that Bitcoin (BTC) experienced an 11.29% decline in August 2023, this historical data may indicate a potential price increase for August 2024.

Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction

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2024-07-24 06:12