Bitcoin (BTC), the world’s largest cryptocurrency, is trending higher in July, according to crypto service provider Matrixport. “We are preparing for a soaring price,” he said in a June 28 investigative report.
Over the past decade, Bitcoin has averaged more than 11% gains in July, showing positive returns seven out of 10 times. Over the past three years, returns in July have been about 27%, 20% and 24%, respectively, the report said.
“Summer tends to be a time of consolidation for bitcoin, but a strong July was followed by a mediocre August and then September,” said Markus Thielen, head of research. tends to decline,” he said.
Matrixport predicts that bitcoin will move up towards $35,000 before being sold and retreating to $30,000 before rising again to the $40,000 level.
Bitcoin’s year-end target is $45,000, Matrixport added.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Original: Bitcoin Bulls Getting Ready for Seasonal Surge: Matrixport