Bitcoin entered the month of June at just above $31,600 level. Soon after, BTC dropped to the $30,000 range to maintain that level for a week’s time. This leaves traders speculating on how Bitcoin July performance could turn out to be.
But what started as Bitcoin dropped from below $29,000 on June 11 never retraced as it fell sharply to reach a low of $17,744. Since then, the top coin continued to hover around the $21,000 range.
How Bitcoin Could Trade In July
According to historical data, the month of July acted as a catalyst for Bitcoin in the last two years with high growth over the month. BTC saw a growth of 18% and 24% in July 2021 and July 2020 respectively.
Crypto Tony, a crypto trader, predicted that July 2022 could be an action packed month in terms of volatility.
“July will be more of an action packed month for volatility due to the catalysts upcoming.”
