Bitcoin is predicted to grow significantly in July

Matrixport analysts have announced a new bullish phase for crypto investors, which is expected in July. Experts are convinced that it will result in even greater growth of bitcoin compared to June.

Over the past ten years, the July results of the BTC exchange rate have shown that the flagship asset has constantly strengthened by more than 11%. And over the past three years, July finished with bitcoin’s price strengthening by 27%, 20%, and 24%, Matrixport emphasized.

The head of the company’s research division, Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Marcus Thielen, emphasized that summer months are usually a period of bitcoin consolidation. «Over the past years, in August, the main cryptocurrency was mostly stagnant, and in September, its value fell amid increased activity of sellers,» the analyst said.

According to Matrixport’s forecasts, BTC will rise to $ 35,000 next month, but then roll back to $ 30,000. Within this range, the cryptocurrency will consolidate, and then it is expected to rise to $ 40,000. Experts believe that by the end of 2023, bitcoin should be trading at $ 45,000.

Cryptocurrency market analysts note that due to a 5% weekly increase, bitcoin is trading at an annual high. According to the analytical tracker CoinMarketCap, the flagship coin is currently trading at $ 30,197 with a market capitalization of $ 634.1 billion. Bidders made $ 13.5 billion worth of transactions with bitcoin. The cryptocurrency’s market share is 50.4%.

Overall, the asset grew by 8.8% in June, and at the end of last week, the BTC reached an annual high of $ 31,400.