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Crypto Financial Services Company Matrixport Draws Attention to Bitcoin's Performance in July! It Signaled This Price! Here Are the Details
According to the latest chart analysis published by the crypto financial services company Matrixport, Bitcoin (BTC) generally shows a sideways trend during the summer months, but July stands out historically with its positive performances.
Matrixport: July Has Historically Been a Strong Month for Bitcoin
The analysis revealed that in seven of the last ten years, Bitcoin closed the month of July with gains, with an average return of 9.1% during these months. It was emphasized that in the three years of decline, losses remained at only single-digit levels. Particularly, a strong double-digit rally was observed in five of these seven bullish years.
116,000 Dollar Target on the Agenda
As July approaches, optimism and expectations of an increase in the market are rising, and according to Matrixport's analysis, this historical trend may re-emerge. The company shared the view that the price of Bitcoin could test the $116,000 level in the coming weeks.
This expectation is based on both past performance and the increase in investor sentiment in July. The analysis indicates that a new wave of bullish momentum could begin in the market, combining technical and emotional indicators.
*It is not investment advice.
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