- Matrixport, a cryptocurrency company founded by Chinese billionaire Jihan Wu, predicts that Bitcoin could reach $35,000 in July.
- Historical data shows that Bitcoin has experienced significant gains in the month of July in the past.
- Matrixport analysts also suggest that Bitcoin could close the year around $45,000.
Matrixport, the cryptocurrency company founded by Jihan Wu, has released a detailed report on the future performance of the cryptocurrency market, with a focus on Bitcoin. According to the report, Bitcoin could potentially reach $35,000 in July, based on similar upward trends observed in previous years.
Bitcoin’s Price Predictions for July and End of Year
The report highlights that Bitcoin has gained an average of over 11% in value in the month of July over the past 10 years. It also points out that in the last three July months, Bitcoin experienced increases of 27%, 20%, and 24% respectively. Matrixport suggests that based on these data, Bitcoin bulls are preparing for a “seasonal rise” and the price could test $35,000 without dropping below $30,000.
Furthermore, the report reveals that Bitcoin has shown positive performance in July for 7 out of the past 10 years, attracting the attention of investors.
In addition to the predictions for the summer months, the report also includes a price forecast for the end of the year. Matrixport analysts state that after reaching $35,000, Bitcoin could potentially close the year around $45,000.
Markus Thielen, the Research Director at Matrixport, warns investors about a possible consolidation period and subsequent sell-off after the July surge:
While the summer months tend to be a consolidation period for Bitcoin, a strong July is often followed by a mediocre August-September and a subsequent sell-off.
