Bitcoin has grown by 17% over the past 30 days

July was the best month of 2022 for bitcoin, with the flagship cryptocurrency rising by 17% in 30 days.

According to CoinMarketCap, the second quarter of 2022 was the worst for BTC in the last 10 years, marked by a 55% drop in the value of the flagship cryptocurrency. However, the downward trend in the price of bitcoin partially stopped in July, when BTC ended the month with a value of $ 24,500, up 16.6%. At the time of writing, BTC is trading at $ 23,041.

As a reminder, bitcoin managed to rise in price at the end of July due to the increase in the key rate range from the US Federal Reserve by 75 basis points at once. Thus, on the night of July 27−28, BTC rose by 9% and traded for $ 23,173.

According to Coinglass' monthly data, August is usually a bearish month for the cryptocurrency market, so analysts have urged investors to be prepared for a drop in the value of bitcoin and altcoins.