A company that trades Bitcoin says that the value of Bitcoin usually goes up by about 9.6% in July. This means that the value of Bitcoin might go up soon after going down and being unstable for a while.

Since April, Bitcoin’s value has fluctuated between $59,000 and $74,000. This was because many people were selling their Bitcoin, there were too many Bitcoins on the market, and people were not feeling confident about Bitcoin. But July is usually a good month for Bitcoin, so the value might go up again. 

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• Historically, Bitcoin has tended to recover in July with a median return of 9.6%, giving hope to Bitcoin traders amidst recent market fluctuations.
• Bitcoin’s exchange-traded funds (ETFs) kicked off July with a nearly $130 million influx, the most significant since June’s start.
• Regular trends, such as the sell-offs during tax season and the December ‘Santa Claus’ rally, can contribute to the predictable shifts in Bitcoin’s value.

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Bitcoin Enthusiasts Eye, a Promising July as BTC ETFs Witness a Surge of $124M

The company, QCP Capital from Singapore, said on Monday, “Bitcoin usually goes up by about 9.6% in July and tends to recover, especially after a disappointing June.” They also noticed last Friday that more people are hoping for a positive change in Bitcoin’s value at the end of the month.

Bitcoin’s value has usually increased by over 11% in July for the last ten years. A report by the Crypto fund Matrixport from 2023 showed that the value of Bitcoin in July 2019 to 2022 went up by about 27%, 20%, and 24%, respectively.

The value of things can change at certain times of the year. Sometimes, it seems random, but it could be because people sell their Bitcoins around tax season in April and May, which lowers the value, or because people buy more Bitcoins in December, which raises the value.

Also, more and more people are becoming interested in Bitcoin. The more people learn about and start using Bitcoin, the more the value could go up. This, along with the positive July trends and the fact that El Salvador has begun using Bitcoin as official money, makes it an inspiring time for Bitcoin.

In addition to the promise of July, Bitcoin has something else going for it. The recent announcement that El Salvador is the first country to use Bitcoin as official money could raise its value. If other countries follow El Salvador, the demand for Bitcoin and its price could also increase. 

This big step towards making digital money more common could really change things and maybe even raise Bitcoin’s worth in the next few months. So, let’s watch what happens with Bitcoin as we enter an enjoyable time for digital money.

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