- Bitcoin’s performance in July is often influenced by factors such as the Federal Reserve’s interest rate decisions, the performance of US stock indices, and global developments.
- Historical data shows that Bitcoin has generally experienced significant increases in July, with five out of the last six years seeing substantial growth.
- The largest cryptocurrency experienced increases of 15.86% in July 2017, 20.98% in 2018, 24.35% in 2020, 18.42% in 2021, and 17.35% in 2022.
This article discusses the potential performance of Bitcoin in July, based on historical trends and influenced by factors such as the Federal Reserve’s interest rate decisions and global developments. It highlights that Bitcoin has generally seen significant growth in July over the past six years.
Bitcoin’s July Performance: A Historical Perspective
Bitcoin’s performance in July has generally been positive over the past 11 years. In fact, five out of the last six years have seen significant increases. The largest cryptocurrency experienced increases of 15.86% in July 2017, 20.98% in 2018, 24.35% in 2020, 18.42% in 2021, and 17.35% in 2022.
Each of these increases has its own story. For instance, last year, after the collapse of Terra LUNA in May, Bitcoin dropped to $17,000 in June before experiencing a recovery and growth period in July. A similar situation occurred in 2021 when Bitcoin fell following Elon Musk’s infamous tweet and China’s bans in May, hit a low in June, and then started to rise in July.
What to Expect in 2023?
Bitcoin closed June with a 12% increase. Despite a drop to $24,700 following a speech by Federal Reserve Chairman Powell, Bitcoin then saw a sharp rise. Since 2012, Bitcoin has not fallen more than 10% in any July. During this period, the largest cryptocurrency only experienced a decline three times: 9% in July 2014, 6.30% in July 2016, and 6.27% in July 2019.
The Federal Reserve’s interest rate decision at the end of the month and Powell’s statements could also influence the month’s closing.
Bitcoin’s July Performance Over the Years:
Here’s a look at Bitcoin’s performance in July over the past years:
2012: 40.39%
2013: 10%
2014: -9%
2015: 7.98%
2016: -6.30%
2017: 15.86%
2018: 20.98%
2019: -6.27%
2020: 24.35%
2021: 18.42%
2022: 17.35%
This historical data provides a useful guide for cryptocurrency enthusiasts looking to understand potential trends for Bitcoin in July.
