Summary
- Matrixport reported that Bitcoin recorded an average return of 9.1% in July.
- It noted that in the past 10 years, there were 7 upward moves, and even the 3 declines were only mild.
- An analysis suggested that Bitcoin could reach $116,000 within the next few weeks.
Considering the strong performance of Bitcoin (BTC) in July, there is an analysis suggesting the potential for it to reach $116,000 in the future.
On the 1st (local time), Matrixport stated in a report, "Historically, Bitcoin has shown strong performance in July," adding, "Over the past 10 years, it has gone up 7 times with an average return of 9.1%." The report continued, "Even the 3 instances of decline were only mild downtrends," and noted, "Within the next few weeks, Bitcoin could reach $116,000."
As of 4:11 PM, according to Binance's USDT market, Bitcoin is trading at $107,000, down 0.50% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
