The daily volume of Bitcoin futures ( BTC ) fell sharply from $ 20 billion on June 11 to around $ 5 billion on June 13.
On June 14, as Bitcoin fell below $ 9,000, the volume of futures contracts began to increase, indicating a higher number of bearish trades and fewer bullish trades during price corrections.
While transaction volumes have fallen for the first time in three months, open interest in derivatives Bitcoin has reached 4 billion. This shows that long-term traders are not yet liquidating their positions.
As the expiration date of another futures and options contract approaches, traders are showing anxiety as the BTC has failed to surpass the $ 10,000 mark. More than 100,000 Bitcoin options worth a total of $ 930 million are set to expire on June 26. This number represents almost 70% of Bitcoin's total open interest .
Bitcoin price forecast: market opinion for July 2020
As several crypto forecast sites have made their own Bitcoin price prediction for July 2020, we have presented some of these predictions below so that we can provide a more complete market sentiment regarding the future price progression of BTC .
Longforecast
Longforecast estimated that BTC would start trading at $ 9,239 in early July. They have also predicted that the maximum price of the room for this month would reach $ 10898, while the minimum price would be about $ 8099. The monthly average was calculated at a price of $ 9,322. The closing price was estimated at $ 9,052, variation for July -2.0%.
Digitalcoinprice
Digitalcoinprice's Bitcoin price forecast places the coin at a price of $ 22,644.95 in July, which represents an increase of 137.86%.
Tradingbeasts
Tradingbeasts predicted that Bitcoin would start in July at a price of $ 8,358,220. The maximum price for the month expects the coin to reach $ 10,440,237, while the minimum price has been set at $ 7,099,361. The bitcoin should close in July at a price of $ 8,352.190, with a variation of -11.18%.
Coinpredictor
Coinpredictor predicted that Bitcoin would drop -22.6% in July, which means the coin would trade at $ 7,137.53.
Capital Gov.
Gov.capital announced that Bitcoin's trading price for July 1 would be $ 10,115.42, with a maximum price of $ 11,632,733 and a minimum price of $ 8,598,107. Here is the rest of the forecast for every day in July.
Calendar dateRegularLowest possible priceBest possible price2020 July2020 01 July, Wednesday 10115.42 8598.107 11632.7332020 02 July, Thursday 9996.994 8497.4449 11496.54312020 03 July, Friday 10419.88 8856.898 11982.8622020 04 July, Saturday 10646.30 9049.355 12243.2452020 05 July, Sunday 10406.00 8845.1 11966.92020 06 July, Monday 10508.02 8931.817 12084.2232020 07 July, Tuesday 10498.06 8923.351 12072.7692020 08 July, Wednesday 10700.21 9095.1785 12305.24152020 09 July, Thursday 10933.46 9293.441 12573.4792020 July 10, Friday 10875.39 9244.0815 12506.69852020 July 11, Saturday 10496.60 8922.11 12071.092020 July 12, Sunday 10394.29 8835.1465 11953.43352020 July 13, Monday 10386.99 8828.9415 11945.03852020 July 14, Tuesday 10208.55 8677.2675 11739.83252020 July 15, Wednesday 10019.28 8516.388 11522.1722020 July 16, Thursday 10015.18 8512.903 11517.4572020 July 17, Friday 9898.344 8413.5924 11383.09562020 July 18, Saturday 10357.19 8803.6115 11910.76852020 July 19, Sunday 10463.29 8893.7965 12032.78352020 July 20, Monday 10608.92 9017.582 12200.2582020 July 21, Tuesday 10684.44 9081.774 12287.1062020 July 22, Wednesday 10690.21 9086.6785 12293.74152020 July 23, Thursday 10630.50 9035.925 12225.0752020 July 24, Friday 10629.00 9034.65 12223.352020 July 25, Saturday 10806.51 9185.5335 12427.48652020 July 26, Sunday 10626.01 9032.1085 12219.91152020 July 27, Monday 10594.98 9005.733 12184.2272020 July 28, Tuesday 10657.89 9059.2065 12256.57352020 July 29, Wednesday 10677.42 9075.807 12279.0332020 July 30, Thursday 10632.49 9037.6165 12227.36352020 July 31, Friday 10692.46 9088.591 12296.329
Encryption
The Bitcoin Cryptorating price forecast for July estimated that the coin will increase by 25.49%, which would set the BTC to $ 11,985.90.
Cryptoground
Cryptoground predicted that BTC would reach a price of $ 9,736.8819 in July, marking a change of 2.24%.
30rates
30 rates have made projections for the first 20 days of July, and the minimum and maximum values of each particular day.
07/01Wednesday$ 8,441$ 9,711 $ 9,07602/07Thursday$ 8,553$ 9,841 $ 9,19703/07Friday$ 8,679$ 9,985 $ 9,33206/07Monday$ 8,099$ 9,319 $ 8,70907/07Tuesday$ 8,748$ 10,064 $ 9,40608/07Wednesday$ 8,523$ 9,807 $ 9,16507/09Thursday$ 8,773$ 10,093 $ 9,43307/10Friday$ 8,631$ 9,931 $ 9,28107/13Monday$ 8,985$ 10,337 $ 9,66107/14Tuesday$ 9,348$ 10,756 $ 10,05207/15Wednesday$ 9,289$ 10,687 $ 9,98807/16Thursday$ 9,472$ 10,898 $ 10,18507/17Friday$ 9,001$ 10,357 $ 9,67907/20Monday$ 9,017$ 10,375 $ 9,696
Bitcoin price prediction: verdict
With this we have reached the end of our Bitcoin price forecast for July 2020. From the data and the forecasts we have analyzed, the market sentiment is largely positive for Bitcoin and expects the coin to break through the $ 10,000 mark soon.
