Historically, June has been a challenging month for Bitcoin (BTC), and this year is no exception. Last year, Bitcoin plummeted by nearly 24% within 5 hours, continuing the pattern of poor performance this month.
Data from CoinGlass shows that since 2013, June, August, and September are the only months that have consistently failed to deliver positive returns. In fact, June usually brings an average loss of 0.19%.
This year, Bitcoin has experienced four winning months and two losing months, with June showing a ratio of 6:12. Historically, however, July tends to be more positive for Bitcoin. Since 2013, July has a winning ratio of 7:11, with significant gains recorded in 2020 when Bitcoin surged by 24% just in that month.
On average, July sees gains of around 7.98% and 9.6%. If these trends persist, the next month could see Bitcoin surge by nearly 10% to 25%. Analyst Credible Crypto even predicts a surge that could push Bitcoin to $100,000, while other experts see targets between $72,000 and $83,000.
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However, investors should be cautious. The cryptocurrency market is famously volatile, and past trends do not guarantee future results. Having a clear strategy for when to enter and exit the market can help manage risks and maximize potential profits.
At the time of writing the article, Bitcoin is trading at slightly over $61,000.
