BIT Blog

Analysts' Insights

Analysts' Insights

Bitcoin Bulls Prepare for the Seasonal July Surge

👇 1) Bitcoin prices tend to rally during the month of July.

👇 2) During the last ten years, Bitcoin has rallied by +11% in July, with 7 out of 10 observations showing positive returns (70%).

👇 3) In July, the previous three years have seen returns of +27%, +20%, and +24%, respectively.

👇 4) While summer tends to be a period of consolidation for Bitcoin, a strong July tends to be followed by a mediocre August and a selloff in September.

👇 5) Based on our year-end target of 45,000, we see Bitcoin prices rallying towards 35,000 before selling off and retracing to 30,000 before attempting the 40,000 level. Those seasonality numbers support our roadmap.

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