Why Bitcoin Will Rally Again In July
Portfolio Pulse from Khyathi Dalal
Crypto journalist Laura Shin predicts a potential rebound for Bitcoin (BTC) in July, following a typical June slump. Historical data shows Bitcoin often recovers strongly in July after a negative June. Factors like lack of new capital, selling pressure from the German government, and impending Mt. Gox disbursements are contributing to the current decline. However, experts suggest that the Mt. Gox repayments may not trigger a significant sell-off. JPMorgan analysts forecast temporary market pressure in July but expect a recovery in August.
June 27, 2024 | 1:47 pm
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Bitcoin is expected to rebound in July after a typical June slump. Historical data shows strong recoveries in July, despite current pressures from lack of new capital, German government selling, and Mt. Gox disbursements. Experts suggest the Mt. Gox repayments may not trigger a significant sell-off.
Historical data shows Bitcoin often recovers strongly in July after a negative June. Despite current pressures, experts suggest that the Mt. Gox repayments may not trigger a significant sell-off, and JPMorgan analysts expect a recovery in August.
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